To qualify for a loan, the borrower must meet several requirements. First, he or she must be a U.S. citizen or permanent resident alien. Second, the borrower must have lived in the same household for at least three years prior to applying for the loan. Third, the borrower must have a valid Social Security number. Fourth, the borrower must have completed at least 12 months of active duty in the U.S. armed forces. Fifth, the borrower must have received a discharge under honorable conditions. Sixth, the borrower must have been honorably discharged within the last five years. Seventh, the borrower must have had no bankruptcy filings within the past seven years. Eighth, the borrower must have no outstanding tax liens. Ninth, the borrower must have good credit history. Tenth, the borrower must have sufficient income to make the monthly payments. Eleventh, the borrower must own a primary residence. Twelfth, the borrower must have enough equity in his or her current residence to cover the amount of the loan. Thirteenth, the borrower must have the ability to repay the loan. Fourteenth, the borrower must provide proof of employment. Fifteenth, the borrower must submit a copy of his or her most recent paycheck stub. Sixteenth, the borrower must complete a loan application. Seventeenth, the borrower must pass a credit check. Eighteenth, the borrower must sign a promissory note. Nineteenth, the borrower must provide a security deposit. Twenty, the borrower must pay a processing fee.