How To Obtain VA Certificate Of Eligibility And Entitlement For VA Loans
This Article Is About How To Obtain VA Certificate Of Eligibility And Entitlement For VA Loans
The team at Gustan Cho Associates are VA Lending Experts. GCA Mortgage Group is a national mortgage company with no overlays on government and conventional loans. Most lenders have overlays on VA Mortgages.
- What are lender overlays?
Overlays are additional mortgage guidelines that are above and beyond those of the U.S. Department Of Veteran Affairs. If veteran borrowers check around for VA Loan Requirements at various lenders, most will tell them that their minimum credit score requirements are 620 to 640 credit scores. Again, veteran borrowers who check on other lenders and ask them what the debt to income ratio requirements are on VA Home Loans will respond with 45% to 50% DTI. How can lenders have minimum credit score requirements and debt to income ratio caps when the U.S. Department Of Veteran Affairs does not have minimum credit score requirements and/or debt to income ratio requirements?
Lender Overlays On VA Home Loans
This is because most VA Mortgage Lenders have VA Lender Overlays. Gustan Cho Associates Mortgage Group has no overlays on VA Loans. We just go off Automated Underwriting System Approval. When we say no overlays on VA Loans, we mean ZERO LENDER OVERLAYS.
Before veteran homebuyers can obtain a VA loan, they must provide proof they are eligible. This proof comes in the form of a COE or certificate of eligibility. This form can be a pain in the neck to obtain. Typically, veteran home buyers must submit their DD-214 to obtain their certificate of eligibility. We will go over the steps to get a veteran borrower certificate below.
This Certificate Of Eligibility (COE) form will be the evidence to show the VA lender so they know they are eligible for a VA-backed home loan.
VA Eligibility Requirements
Who is eligible to receive VA benefits for a home loan?
- Veterans who have a DD-214 with the credentials below
- Members of the military
- Active duty members qualify after the first six months of active service
- National Guard and Reserve members: Must serve six years or be called up to active duty for at least 181 days. If called up during wartime you should be eligible after 90 days
- Surviving spouses: If military member dies during active duty or as the result of a service-related disability
- A surviving spouse will receive the VA form 26-1817
If you feel like you fit those above parameters please contact us at GCA Mortgage Group at 262-716-8151 or text us for a faster response. Please do not hesitate to contact us at Gustan Cho Associates for more information on How To Obtain a VA Certificate Of Eligibility.
How To Obtain VA Certificate Of Eligibility
Veterans may apply online for the eBenefits portal.
- Hopefully, Veteran Borrowers know their login credentials or they must reset them
- They may also call their help desk at 800-983-0937 for help with any login issues
- Veteran Borrowers can call during normal business hours Monday through Friday from 8 AM to 8 PM Eastern standard time
- If veteran home buyers are not tech-savvy they may obtain the VA Standard form 180, and then request a certificate of eligibility
- You may send requests by US mail and once received, a copy is sent back to you
This process does take time around 90 days. It is much faster to call or apply online.
How To Obtain VA Certificate Of Eligibility: What To Do If You Do Not Have DD214?
Veteran Home Buyers need to check with the veteran’s service records. They may request the service records by mail fax or online. The easiest way to do this would be online using eBenefits please see this link and submit to eVetRecs online. Veteran Borrowers may also fax requests to 314-801-9195 or mail them to:
You will see the disclaimer on the Archives website that states they receive 4000-5000 requests a day, so it is best to try the online portal.
Once you’ve obtained your DD 214 please contact the professionalism of Gustan Cho Associates. The team at GCA Mortgage Group available seven days a week at 262-716-8151, please reach out to us or text us for a faster response. Homebuyers will need time to start on their home loan pre-approval process. Remember you can obtain the certificate of eligibility, that is the fastest way. In the event, you’re having trouble let the experts from Gustan Cho Associates Mortgage Group assist you. We look forward to serving you. Home Buyers who need more information on How To Obtain VA Certificate Of Eligibility, please reach out to us. We are available 7 days a week, evenings, weekends, and holidays.