Why Do I Need A Certificate Of Eligibility For a VA Loan?

Certificate Of Eligibility For a VA Loan

During the VA loan application process, the VA mandates that lenders acquire proof of a Veteran’s military service. That evidence, which certifies to a lender that an applicant has in fact satisfied the VA’s military service requirement, is the Certificate of Eligibility (COE).

Having said that, one of the most crucial things to understand about the COE is that it is no need to begin the VA loan application process.

Without a COE, it is entirely possible to begin the VA loan application process and even receive a preapproval letter. Before closing, you or your lender must, however, receive the document. The closure procedure could be delayed or completely derailed if there are any further hiccups or concerns about the Veteran’s military status.

Certificate of Eligibility is the official document that the Department issues to a candidate after reviewing their application for admission to the Excelsior Jobs Program and determining that they are eligible for the Program. The ability to claim the tax credit is not automatically guaranteed by having a certificate of eligibility.

Also, there are three ways to obtain a COE in order to be eligible for a VA loan. One can:

  • Request the COE from your VA-approved mortgage lender.
  • Through the VA’s eBenefits website, request the COE.
  • Request a certificate of eligibility by filling out the form and mailing it to your local VA loan office.

What are the eligibilities requirements for a Certificate Of Eligibility?

During the VA loan application process, the VA mandates that lenders acquire proof of a Veteran’s military service. That evidence, which certifies to a lender that an applicant has in fact satisfied the VA’s military service requirement, is the Certificate of Eligibility (COE).

To be eligible for a COE, you must fulfill the Department of Veterans Affairs’ service requirement. You can fulfill that service need by doing one of the following:

  • You have at least 181 days of active duty service in the military of the United States.
  • You have at least 90 days of combat service under your belt.
  • You’ve been a member of the National Guard or military reserves for at least six years.
  • You are the eligible surviving spouse of a service member who lost their life while performing their duty.

How do I request a COE for a VA Loan?

There are 3 options to request a Certificate Of Eligibility:

First, on eBenefits website, you can do a COE request right this second. It might be necessary for you to log in using your Premium DS Logon account when you visit the eBenefits website. You can sign up for a Premium account there if you don’t already have one.

Secondly, your lender might be able to obtain your COE via an internet tool called Web LGY. Ask your lender whether they offer this choice.

Third, fill out a Request for a Certificate of Eligibility (VA Form 26-1880) and mail it to the location of your local loan facility if you want to request a COE by mail. The address is on the final page of the form. Please be aware that mail requests could take longer than online or lender-based COE requests.

What Are The Types of Certificate Of Eligibility?

Simply, the COE is a document created by the U.S. Department of Veterans Affairs (the VA), and it serves to confirm to your lender that you are eligible for a Texas VA loan one. Therefore, there is no other types of Certificate of Eligibility for VA loans.

 
 

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118 Vintage Park Blvd W443, Houston, TX 77070, United States

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