Direct from the VA, regarding eligibility.

Eligibility

You must have satisfactory credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. The eligibility requirements to obtain a COE are listed below for Servicemembers and Veterans, spouses, and other eligible beneficiaries.

VA home loans can be used to:

• Buy a home, a condominium unit in a VA-approved project

• Build a home

• Simultaneously purchase and improve a home

• Improve a home by installing energy-related features or making energy efficient improvements

• Buy a manufactured home and/or lot

• To refinance an existing VA-guaranteed or direct loan for the purpose of a lower interest rate

• To refinance an existing mortgage loan or other indebtedness secured by a lien of record on a residence owned and occupied by the veteran as a home