| How do I get a Certificate of Eligibility (COE)?
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- It may be possible to obtain a Certificate of Eligibility from your lender. Most lenders have access to a system called webLGY. This Internet based application can establish eligibility and issue an online Certificate of Eligibility in a matter of seconds. Not all cases can be processed through webLGY - only those for which VA has sufficient data in our records. Veterans are, however, encouraged to ask their lenders about this method of obtaining a certificate.
- If you are not able to obtain a COE through webLGY from your lender, you can apply for a Certificate of Eligibility by submitting a completed VA Form 26-1880, Request For A Certificate of Eligibility For Home Loan Benefits, to the Winston-Salem VA Eligibility Center, along with proof of military service. In some cases, it may be possible for VA to establish eligibility without your proof of service. However, to avoid any possible delays, it's best to provide such evidence.
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| Does my Certificate of Eligibility (COE) have a time frame during which it needs to be used?
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- No, your Certificate of Eligibility will never expire. The only exception is for those veterans who obtained their certificate while they were on active duty. That veteran would need to obtain a new Certificate of Eligibility after he or she has been discharged.
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| What does it mean if I have $36,000 listed as my entitlement available on my Certificate of Eligibility (COE)?
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- The $36,000 listed on your COE is your basic entitlement amount. This is not used as a down payment toward your mortgage; it is the amount available for the guaranty of your mortgage. For loans in excess of $144,000 to purchase or construct a home, additional entitlement up to an amount equal to 25 percent of the Freddie Mac conforming loan limit for a single family home may be available. This loan limit changes yearly. This means that qualified veterans could get a no down payment purchase loan of up to $417,000, effective January 1, 2006.
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| If I was charged the funding fee at closing, and it was determined that I was supposed to be exempt, what do I do?
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- Contact the Customer Service Department at the mortgage company who is servicing your loan, and request a funding fee refund. You may be asked to provide a copy of your VA compensation award letter.
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| Can I use my VA home loan benefit more than once?
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- Yes, a veteran’s entitlement can be restored once the veteran has disposed of the property and paid the loan in full. This will allow the veteran to use his or her VA home loan benefit again.
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| Can I get a VA loan with someone who is not my spouse?
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- A veteran can purchase a home with any individual they choose, but the VA will only guarantee the portion of the loan attributed to the veteran and a spouse. For example, if the veteran intends to purchase a home with a fiancée prior to marriage and will share the same interest in the property, VA would guarantee half of the loan.
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