VA Certificate Of Eligibility Guidelines On VA Loans


This BLOG On VA Certificate Of Eligibility Guidelines On VA Loans Was PUBLISHED On January 10th, 2019

Retired and active duty members of the U.S. Military need to meet VA Certificate Of Eligibility Guidelines to get their COE.

  • Only veterans meeting VA Certificate Of Eligibility Guidelines can get a COE
  • Just having served in the military does not entitle borrowers for VA Loans
  • Need active Certificate of Eligibility
  • VA Loans is hands down the best mortgage program in the United States
  • Our government rewards retired and active duty members of our Armed Services who meet VA Certificate Of Eligibility Guidelines with COE that entitles them for VA Loans
  • There is no down payment requirements
  • No monthly mortgage insurance required
  • Most borrowers do not have to come up with any closing costs
  • Closing costs is normally covered by sellers concessions and/or lender credit

How To Apply For VA Home Loans

Borrowers can qualify for VA Loans through a VA approved mortgage lender.

  • Not all lenders have the same VA Guidelines
  • All borrowers need to meet VA Guidelines set by the U.S. Department of Veterans Affairs
  • However, each lender may have their own lending requirements called overlays
  • Overlays are lending requirements that are above and beyond those of VA Guidelines
  • Gustan Cho Associates at Loan Cabin Inc. are direct lenders with no overlays on VA Mortgages
  • We just go off VA Guidelines and have no other overlays
  • Borrowers need an approve/eligible per automated underwriting system
  • Borrowers who do not get an AUS Approval may qualify via manual underwriting
  • The Gustan Cho Team at Loan Cabin Inc. does manual underwriting on VA and FHA Loans
  • To get an approve/eligible per AUS, borrowers needs satisfactory credit, sufficient income, and a valid Certificate of Eligibility

Need to meet guidelines on Lenders Handbook – VA Pamphlet 26-7

How To Obtain Certificate Of Eligibility – VA COE

Veterans need to meet VA Certificate Of Eligibility Guidelines for them to be eligible for VA COE. Only borrowers with valid VA COE are eligible for VA backed home loans. 

  • A DD 214 form is mandatory
  • A copy should be given to a whomever is obtaining the VA COE
  • The following people are eligible for VA Home Loans:
    • Veteran, current or former National Guard, or Reserve member
  • For Active Duty Service member
  • Current National Guard and/or Reserve service members who have never been federal active reserves:
    • Statement regarding current service should be signed by (or direction of) the adjutant, personnel office, commander of the unit, or higher headquarters
    • Needs to state full name, social security number, date of birth, entry of date on active duty, the duration of any lost time, and the name of the command providing information
  • For discharged members of the National Guard who have never been activated for federal active duty service:
    • NGB Form 22, Report of Separation and Record of Service for each period of National Service; and
    • NGB Form 23, Retirement Points Accounting, and proof of character in service
    • Discharged service military members of the Selected Reserve who have never been activated for Federal active service:
    • Copy of latest annual retirement points statement
    • Proof and documentation of honorable service discharge
  • Surviving spouses can be eligible for VA Loans
  • Spouses of surviving veterans in receipt of Dependency & Indemnity Compensation (DIC) benefits:
  • For surviving spouses that are not receiving DIC benefits:
    • VA Form 21-534
    • DD 214 if available
    • Marriage certificate
    • Death Certificate and/or DD form 1300
    • Mail to the appropriate address by following PMC States

Loan Officer Can Help With Obtaining COE

Borrowers who know they qualify for VA Loans but do not have their VA COE, The Gustan Cho Team at Loan Cabin Inc. can assist them with obtaining their VA COE. Our loan officers can go online to the eBenefits portal 

If borrowers feels more comfortable getting the VA COE themselves, they may do so through the WebLGY system.

  • The WebLGY system enables lenders to either locate an existing Certificate Of Eligibility
  • It also allows lenders to request an update of an existing Certificate Of Eligibility
  • Lenders can also order a new Certificate Of Eligibility
  • The mortgage process for obtaining a Certificate of Eligibility is as below:
    • Loan officer enters borrower’s name and Social Security Number (SSN)
    • If nothing comes back about the borrower, a new COE must be ordered by using ACE

Lenders can navigate through this electronic system in a matter of minutes. Borrowers do not have to stress over this. Our team of license and support personnel at Gustan Cho Associates can start the process of obtaining a Certificate of Eligibility for a VA Loan.

Getting Lost DD 214 Replacement

Over 150 million personnel records of U.S. members of our military is help by NPRC. It is held via electronically and paper format.

Here is the process of obtaining a lost DD 214 Replacement.

  • Can get a copy online by visiting the National Archives Website
  • Can request by completing the Standard Form 180 (SF-180)
  • Mail the completed form to the following address:
    • NPRC Mailing Address:
      National Personnel Records Center
      Military Personnel Records
      1 Archives Drive
      St. Louis, MO 63138
  • Or Fax the Standard form (SF 180) to: 314-801-9195

Borrowers are not left alone at Gustan Cho Associates Mortgage Group. Our team of loan officers and/or support/operations personnel will assist borrowers throughout the whole loan process. Gustan Cho Associates at Loan Cabin Inc. are direct lenders with no overlays on VA Home Loans. Please contact us at 262-716-8151 or text us for faster response. Or email us at gcho@loancabin.com. The Gustan Cho Team at Loan Cabin Inc. is available 7 days a week, evenings, weekends, and holidays.

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