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Today's soldier is just as likely to be a teacher as a tank driver or a postman as a pilot. While the Guard and Reserve elements have always been important, the War on Terror has brought them to the forefront of the battle. There are over 90,000 of these "part-time" soldiers now on active duty from the Army and Air National Guard and the Reserves. Their tours of duty are lasting up to twelve months and some have served multiple tours. The men and women from these branches are veterans in the finest sense of the word.
By the Book! According to the Eligibility Guidelines as outlined on the Veterans Administration web site (http://www.homeloans.va.gov/elig2.htm), the requirement is "service for 2 years or the full period for which called to active duty." However, there is an exception – and it directly relates to the Guard and Reserve personnel who have been called up for active duty. The book states that, "You must have served at least 90 days on active duty and been discharged or released under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged because of a service-connected disability." It Is Up to YOU! The VA loan guaranty program is available to all active duty military personnel. The forms required for acquiring a Certificate of Eligibility are different for each branch of the Guard or Reserves, but the end result is the same – you have earned this entitlement. While the VA home loan guaranty program is not a loan, it does assist you in acquiring a loan. In addition, it can save you money on the down payment and the personal mortgage insurance requirement. |
