VA Loan Certificate of Eligibility

Who Can Use A VA Loan?

Eligibility for the VA home loan is limited to those in the US service, whether a veteran is on active duty, or he or she was honorably discharged from service from the military. This includes service personnel in the Army, Navy, Air Force, Marine Corps, Coast Guard, the National Guards and, of course, the Reserves.

As long as the veteran who wants to apply for the VA loan served during wartime or peacetime for specific length of time, he is eligible to make use of the said benefit under certain conditions.

For instance, if the veteran was duly registered and began his service on or before September 7, 1980, or he was an officer on or before October 16, 1980, he is eligible to apply provided that he served honorably within a certain number of required days.

Now, to prove that he is indeed eligible for the VA home loan, a veteran is required to produce his Certificate of Eligibility (COE) when applying for the said benefit.

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This loan certificate is what would prove to the lender that the veteran is indeed qualified to avail of the VA home. On the chance that he doesn’t have his certificate with him, or he has lost it prior to the loan application, he can still get a copy by downloading the certificate of eligibility request form from the government’s online form center.

After downloading the request form, simply print it out, complete the form and mail it to the provided address. It is advisable to do this immediately because it can take up to four weeks before you will receive your certificate of eligibility.

Although having your COE on hand when you apply for the loan makes the processing considerably easier, lenders can help you to locate your COE and move the process along.

You might also want to get a pre-approval for your VA home loan. By doing this, you will be able to know the maximum loan amount that you can avail. Therefore, you will have a sound idea about the price range of possible homes you can actually pay for.

Its never been a better time to get a VA loan. Whether you are purchasing a home, refinancing for a lower interest rate or refinancing to take out some equity, you can’t lose. Use our VA 1-minute quote form to get started today!

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