Who is Eligible?
You might be eligible for a VA loan by fulfilling one or more of the following requirements:
- You have served 90 consecutive days of combat duty during wartime, OR
- You have served 181 days of military service during peacetime, OR
- You have spent 6 years in the Coast guard or Reserves, OR
- You are the spouse of a member of the military who died on deployment or as a result of service related disability.
Don't meet the requirements? You may still still qualify. Talk with a VA Specialist today
Certificate of Eligibility
Although you do NOT need your Eligibility Certificate (COE) in hand to apply for a VA loan, this is an important aspect of the eligibility for VA loans. Your COE confirms that you qualify for VA loan benefits to the lender.
Again, before applying for a VA loan, it is not necessary to acquire your COE, as most VA lenders are able to pull their COE instantly via the automated system. In fact, almost all VA loan COEs are electronically issued, and about two-thirds of certification are given instantly, according to the VA.
There are three ways you can receive your COE for a VA loan:
- Applying through a VA approved lender
- Applying online through the VA’s eBenefits portal
- Applying by mail with VA Form 26-1880
You might be eligible for a VA loan by fulfilling
one or more of the following requirements:
- You have served 90 consecutive days of combat duty during wartime, OR
- You have served 181 days of military service during peacetime, OR
- You have spent 6 years in the Coast guard or Reserves, OR
- You are the spouse of a member of the military who died on deployment or as a result of service related disability.
Don't meet the requirements? You may still still qualify. Talk with a VA Specialist today
Certificate of Eligibility
Although you do NOT need your Eligibility Certificate (COE) in hand to apply for a VA loan, this is an important aspect of the eligibility for VA loans. Your COE confirms that you qualify for VA loan benefits to the lender.
Again, before applying for a VA loan, it is not necessary to acquire your COE, as most VA lenders are able to pull their COE instantly via the automated system. In fact, almost all VA loan COEs are electronically issued, and about two-thirds of certification are given instantly, according to the VA.
There are three ways you can receive your COE for a VA loan:
- Applying through a VA approved lender
- Applying online through the VA’s eBenefits portal
- Applying by mail with VA Form 26-1880
Get your COE started today, talk with a Loan Specialist.
With your military service documentation, the process takes minutes to complete and ensures that your home financing moves ahead without delay.
Have questions about eligibility? Talk to a specialist.
Documents Required to Obtain a COE
Not sure if you qualify?
Talk to an experience VA Specialist today
Veteran
- DD Form 214 (Report of Separation)
Current or Former Activated National Guard or Reserves
- DD Form 214 (Report of Separation)
Active Duty
- Statement of Service
Current National Guard or Reserves (Never Activated)
- Statement of Service
Discharged National Guard (Never Activated)
- NGB Form 22 (Report of Separation and Record of Service)
- NGB Form 23 (Retirement Points Accounting and proof of the character of service)
- Army Reserve: DARP Form FM 249-2E or ARPC Form 606-E
- Navy Reserve: NRPC 1070-124
- Air Force Reserve: AF 526
- Marine Corps Reserve: NAVMC HQ509 or NAVMC 798.
- Coast Guard Reserve: CG 4174 or 4175
Documents Required to Obtain a COE
Not sure if you qualify?
Talk to an experince VA Specialist today
Veteran
- DD Form 214 (Report of Separation)
Current or Former Activated National Guard or Reserves
- DD Form 214 (Report of Separation)
Active Duty
- Statement of Service
Current National Guard or Reserves (Never Activated)
- Statement of Service
Discharged National Guard
(Never Activated)
- NGB Form 22 (Report of Separation and Record of Service)
- NGB Form 23 (Retirement Points Accounting and proof of the character of service)
- Army Reserve: DARP Form FM 249-2E or ARPC Form 606-E
- Navy Reserve: NRPC 1070-124
- Air Force Reserve: AF 526
- Marine Corps Reserve: NAVMC HQ509 or NAVMC 798.
- Coast Guard Reserve: CG 4174 or 4175
How spouses
can obtain a COE
Having a COE as a surviving spouse depends on whether you are seeking Payment for Dependence and Indemnity or not.
Spouses receiving Dependency and Indemnity Reimbursement benefits must fill out VA Form 26-1817 (Claim for Loan Guarantee Eligibility–Unmarried Surviving Spouses) and obtain a copy of the Veteran's separation paperwork, such as DD Form 214.
If you do not receive benefits from Dependency and Indemnity Compensation, you will need to fill out VA Form 21P-534EZ (Dependency and Indemnity Compensation, Survivors Pension and/or Deferred Benefits) and send it to the VA Pension Management Center in your state
Additionally, a copy of your marriage certificate, the Veteran's Death Certificate (or DD Form 1300–Casualty Report) and the Veteran's separation paperwork will be required.
Separation paperwork from the US may be needed from Administration of National Archives and Records.
Surviving spouses should contact a loan specialist Veterans United with questions or for more information.
Other Eligibility Requirements
While the VA sets the criteria for eligibility for VA loans, private lenders that fund the home usually have an additional set of standards that prospective borrowers must follow, including adequate stable income to repay the loan, appropriate debt rates and a credit score that meets the credit requirements of the lender.
Also, the house would have to follow the valuation requirement of the VA, which looks at the fair market value of the home along with its condition.
Ready to check whether you qualify for a VA loan? Start your VA loan with Veterans United today and talk to a home loan specialist.
Have questions?
Chat with a VA Specialist
Credit and Income Requirements
The VA does not set a minimum credit score threshold for eligibility for VA loans, but typically the borrowers do. Regardless of this, credit score criteria for VA loans differ from lender, but most lenders usually requiring a minimum credit score of 620.
In addition to credit ratings, the VA allows lenders to retain a certain amount of income left over per month following payment of all major expenditures. The surplus is intended to fund traditional family needs, such as food, housing and medical care, which is referred to as residual income.
Through imposing conditions for residual income, the VA increases the likelihood of its borrowers receiving enough income to fulfill their financial obligations, and also guarantees that borrowers have a reserve in the case of an emergency.
Applying for a loan
It is not necessary for veterans and service members to know whether they are eligible for a VA loan to seek and start the process. In the first step, you can get a clear handle on your ability to obtain a VA loan-pre-approval loan.
Usually, the VA loan cycle takes 30 to 45 days once you are on a home contract, but the situation of each borrower is different. Applying for a VA loan does not in any way oblige you to go forward with the home buying process or to a particular lender.
- Familiarize yourself with the eligibility criteria of VA loan above
- Contact a VA-approved lender such as United Home Loans Veterans and launch your VA Loan application
- Obtain your Eligibility Certificate via your lender or on your own
- Finalize your application for a loan and provide your lender with all the appropriate paperwork including W-2, tax returns and other financial details
Other Eligibility Requirements
While the VA sets the criteria for eligibility for VA loans, private lenders that fund the home usually have an additional set of standards that prospective borrowers must follow, including adequate stable income to repay the loan, appropriate debt rates and a credit score that meets the credit requirements of the lender.
Also, the house would have to follow the valuation requirement of the VA, which looks at the fair market value of the home along with its condition.
Ready to check whether you qualify for a VA loan? Start your VA loan with Veterans United today and talk to a home loan specialist.
Have questions?
Chat with a VA Specialist
Credit and Income Requirements
The VA does not set a minimum credit score threshold for eligibility for VA loans, but typically the borrowers do. Regardless of this, credit score criteria for VA loans differ from lender, but most lenders usually requiring a minimum credit score of 620.
In addition to credit ratings, the VA allows lenders to retain a certain amount of income left over per month following payment of all major expenditures. The surplus is intended to fund traditional family needs, such as food, housing and medical care, which is referred to as residual income.
Through imposing conditions for residual income, the VA increases the likelihood of its borrowers receiving enough income to fulfill their financial obligations, and also guarantees that borrowers have a reserve in the case of an emergency.
Applying for a loan
It is not necessary for veterans and service members to know whether they are eligible for a VA loan to seek and start the process. In the first step, you can get a clear handle on your ability to obtain a VA loan-pre-approval loan.
Usually, the VA loan cycle takes 30 to 45 days once you are on a home contract, but the situation of each borrower is different. Applying for a VA loan does not in any way oblige you to go forward with the home buying process or to a particular lender.
- Familiarize yourself with the eligibility criteria of VA loan above
- Contact a VA-approved lender such as United Home Loans Veterans and launch your VA Loan application
- Obtain your Eligibility Certificate via your lender or on your own
- Finalize your application for a loan and provide your lender with all the appropriate paperwork including W-2, tax returns and other financial details
Veteran's Mortgage Center
7555 N Palm Ave Suite 105
Fresno, CA 93711
NMLS: #273042
A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.
Customers with questions regarding our loan officers and their licensing may visit the Nationwide Mortgage Licensing System & Directory for more information.
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