1. The applicant must be an eligible veteran who has available entitlement.

2.The loan must be for an eligible purpose.

3.The veteran must occupy or intend to occupy the property as a home within a reasonable period of time after closing the loan.

4.The veteran must be a satisfactory credit risk.

5.The income of the veteran and spouse, if any, must be shown to be stable and sufficient to meet the mortgage payments, cover the costs of owning a home, take care of other obligations and expenses, and have enough left over for family support.