Question

Conchita is applying for a VA loan. She has served in the military, on active service, for ninety days. She is trying to buy a town home near her base for easier commuting. The town home has qualified with an appraisal and has been issued a Certificate of Reasonable Value. Will Conchita be considered for a VA loan?

Answer 1

Answer:

No, Conchita will not be considered for a VA loan.

Explanation:

In order for a Veterans Affairs (VA) loan to be given, the borrower must comply with the following conditions regarding service time:

• the borrower must have served for at least 90 days of active duty (service during wartime)
• the borrower must have served for at least 181 days of active service (service during peacetime)

Conchita has not served the 181 days of active service required.