VA Home Loan Certificate of Eligibility

eBenefits.Va.Gov

How do I obtain a VA Home Loan Certificate of Eligibility or a duplicate of a certificate?

Apply online
To get your Certificate of Eligibility (COE) online, please go to the eBenefits portal at this link. If you already have login credentials, click the Login box, and if you need login credentials, please click the Register box and follow the directions on the screen. If you need any assistance please call the eBenefits Help Desk at 1-800-983-0937. Their hours are Monday-Friday, 8am to 8pm EST.

Apply through your lender
Most lenders have access to the Web LGY system. This Internet-based application can establish eligibility and issue an online COE in a matter of seconds. Not all cases can be processed through Web LGY – only those for which VA has sufficient data in our records. However, Veterans are encouraged to ask their lenders about this method of obtaining a certificate.

Apply by mail
Use VA Form 26-1880, Request for Certificate of Eligibility.
Surviving Spouses
Spouses must apply by mail using VA Form 26-1817, Request for Determination of Loan Guaranty Eligibility – Unmarried Surviving Spouses. If your Veteran spouse died after service, VA must determine that the death was due to a service-connected disability. Please allow 2-3 months for this process unless you know that the decision on service-connected death has already been made.

If you can’t print the form, just call 1-888-7682132 and follow the prompts for Eligibility and we will mail the form to you.

Send the completed form to:
VA Loan Eligibility Center
Attn: COE (262)
PO Box 100034
Decatur, GA 30031

eBenefits.Va.Gov

eBenefits Portal

eBenefits.Va.Gov

The eBenefits portal is an online system for veterans can upload digital pictures of records and other evidence to support their benefits claims rather than mailing them in. The online system is jointly operated by the VA and the Defense Department. It also integrates with the Veterans Benefits Management System’s existing electronic claims service.

It is very useful for Veterans to be able to now file their claims online through eBenefits. Prior to the activation of the eBenefits system, veterand had to mail claims info through the postal service and wait for confirmation of receipt by mail.

The eBenefits portal enables veterans and service members the ability to directly access their personal benefit data  information securely and also give them the ability to download a Certificate of Release or Discharge from Active Duty (DD–214), check their claim status, etc. more easily than in the past.

eBenefits.Va.Gov

Using Your VA Benefit to Buy a House

eBenefits.Va.GovOnline VA Benefits; Apply for Veteran Benefits · View my Status · Access My VA Documents · Browse VA Benefits Links Skip Browse VA Benefits links. VA Benefits Links. VA Benefits By State ·Compensation . VA Retirements – VA Loans

Veterans work hard to fight for our country. The GI Bill and their VA benefits can be used to help purchase a home.

The government has been supporting veterans and their families dream of home ownership since 1944 when the GI Bill was first introduced. This bill provided a government loan guarantee to lenders willing to provide veterans with a home loan. This reduced lenders risk and made purchasing a home easier for veterans. Since then over 25 million veterans have use the GI Bill to purchase a home and you could become one of them. VA Benefit

Many people do not understand how a VA loan works or who issues them. The government does not directly lend to veterans, rather it guarantees the loan so that other lenders (banks, credit unions, brokers) can lend to veterans knowing the government will guarantee the loan in the event the mortgage does not get paid. They guarantee 25% which is what allows VA loan programs to provide mortgage loans at reasonable loan rates and with zero or low down payments. Think of the government as your personal cosigner. Instead of a rich uncle signing on your loan – you have Uncle Sam.

In order to qualify for a VA loan there is a time in service requirement. Veterans need to be active duty or discharged with a minimum of 90 days served during war time or 181 days served during peace time. All branches of the military qualify including the National Guard. Those in the National Guard need to have served for six years. The other condition is that your discharge paperwork cannot be for a dishonorable discharge.

The VA is determined to ensure veterans and their families can own a home that they can afford. During the underwriting process they will determine if you can afford the home you want to purchase. Normally lenders calculate your debt to income ratio (how much you pay monthly toward debt obligations compared to how much income you make) by going off of your credit report and future home payment. The V.A does additional analysis to take into account real life expenses like food and caring for children. This additional underwriting helps to ensure that veterans are in a home that is the right price bracket for what they can reasonably afford.

The VA also wants to make sure that the home is safe and in good condition so an appraisal is required. When the appraisal is conducted the home must have a life expectancy at least that of the loan term. For example if the home is deemed to need to be replaced in 20 years a borrower will not qualify for a 30 year loan. This is especially important if a veteran is purchasing a manufactured home. If the appraisal shows that values in the area are declining the loan cannot be for more than 90% of the value. This is to ensure that the loan does not become upside down (owing more than the home is worth). These additional rules are geared toward protecting veterans and ensuring they do not enter a loan situation that could be negative for them down the road.

If you are a veteran that has served or is currently serving in the military contact a professional mortgage lender to learn how you can use the GI Bill to purchase a home. If you already own a home your VA benefit can be used for a refinance loan. Rates are low and home values are stabilizing so now is a great time to purchase. Contact a mortgage banker to determine what mortgage rates and mortgage loan programs you qualify for. eBenefits.Va.Gov

In closing, Bethany understands the benefits that US veterans deserve. That is why she writes about veteran loans while 30 year mortgages are available with low interest rates. She believes that this is the time to buy before rates and home values start to rise.