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VA Loan Certificate of Eligibility – How long does it take?

What are the requirements to be eligible?

by Luis O., CFA, FRM
25 September, 2022 - Updated on 9 February, 2023
in Student loans
VA Loan Certificate of Eligibility how long does it take

Being in the military is a demanding job, but it has many financial benefits for the family. When starting a household, a member of the U.S. Armed Forces can apply for a special mortgage. Unlike a traditional mortgage, the Veterans Affairs (V.A.) loan requires no down payment and no private insurance payment.

Must meet certain requirements to be eligible to receive the V.A. loan. Among the first steps to obtain the mortgage, you must apply for the Certificate of Eligibility (COE). If you are in this process and want to know how long it takes, the answer depends on two alternatives.

Contents

Toggle
  • What is the Certificate of Eligibility for a V.A. loan?
  • What are the requirements to be eligible?
    • VA COE Application Requirements – Military Retired and Veterans
    • Requirements to apply for VA COE – active military
    • Requirements for members of the National Guard or Reserve with Federal Service
    • Requirements for the Guard and Reserve without federal service
    • Requirements for surviving spouses
  • How to apply for the COE?
    • Request a VA COE online
  • How long does it take to get a certificate of eligibility?
  • What do I do when I receive the COE?

What is the Certificate of Eligibility for a V.A. loan?

The Certificate of Eligibility (COE) is the first step to obtaining the V.A. mortgage loan. The U.S. Department of Veterans Affairs is in charge of issuing the document, whose objective is to leave evidence that the applicant meets the profile to be eligible for the loan.

If the interested party does not apply for the COE, he/she cannot apply for the V.A. loan, nor can he/she take advantage of the low-interest rates or other benefits.

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What are the requirements to be eligible?

To apply for the certificate, you must meet the requirements. The requirements will vary depending on your military component, whether you are active or retired, or the applicant or spouse.

VA COE Application Requirements – Military Retired and Veterans

Veterans must use a copy of VA Form 26-1880 as a discharge report. A copy of D.D. Form 214 or equivalent document from the National Guard or Reserve.

All discharge-related documents must have the “character of service (24 items)” and also a “narrative reason for the member’s separation from service (item 28).”

Requirements to apply for VA COE – active military

The active military must submit a statement of current service to V.A. May submit the letter in person or through a lender. The document must include:

  • Full name
  • Social Security Number
  • Date of birth
  • Date of entry into active duty
  • Length of any time lost
  • Name of the command providing information
  • Signature of adjutant, office staff or unit commander, higher command with jurisdiction over the applicant

Requirements for members of the National Guard or Reserve with Federal Service

National Guard and Reserve members must submit a D.D. Form- 214 or equivalent discharge from either component.

Discharge papers must have a section “showing character of service” and reasons for separation. Must include:

  1. Form NGB 22, Report of Separation and Record of Service for each year within the National Guard
  2. Form NGB 23, Retirement Point Accounting and Proof of Character of Service or a copy of the latest annual statement of retirement points and evidence of honourable service
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Requirements for the Guard and Reserve without federal service

Those who have never served or been called to federal service must submit:

  • A statement of service from an adjutant, staff officer, senior unit or headquarters commander
  • Full name
  • Social Security Number
  • Date of birth
  • Date of entry on active duty
  • Number of creditable years of service
  • Length of any time lost
  • Name of command from which information is derived

Requirements for surviving spouses

If receiving Dependency and Indemnity Compensation (DIC) benefits, you must submit:

  • VA Form 26-1817 with Social Security numbers for themselves and the veteran
  • Veteran’s D.D. Form -214, if available

Those not receiving DIC must submit:

  • V.A. Form 21P-534- ARE
  • DD Form 214, if available
  • Marriage Certificate
  • Death Certificate or D.D. Form 1300 – casualty report

How to apply for the COE?

After completing all the necessary documents, you can apply for a Certificate of Eligibility. The military institution offers three ways to complete the process:

  1. Apply for the COE online from the Department of Veterans Affairs Electronic Benefits (eBenefits) portal
  2. Military members who work closely with an approved lender can ask the professional to apply electronically
  3. Apply by mail by sending VA Form 26-1880 to V.A. at P.O., Box 100023, Decatur, GA 30031

Request a VA COE online

To apply online, follow these steps:

  • Enter the eBenefits portal and log in
  • Once you are inside the platform, click on the “manage” section and select “housing” from the drop-down bar  
  • Click on the option “Mortgage Loan Eligibility Certificate”
  • Download and print the form
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This process takes about five minutes in total. If you need help or have any questions, you can call (808)376-1667 to speak to one of the loan officers.

How long does it take to get a certificate of eligibility?

The time it takes will depend on which way you request the document. If you have Internet access and apply through the eBenefits portal, you will receive the certificate in five minutes. But if you request by e-mail, you will have to wait between five to six weeks to receive the confirmation from COE. We do not recommend opting for this alternative if you have limited time. 

What do I do when I receive the COE?

Once you have the certificate, it is time to move forward with the loan application. Remember that receiving the COE is not synonymous with being approved for the loan, but rather that you are eligible to apply for one. The next step is to use and comply with the lender’s instructions.

From here on, the process is very similar to applying for civilian credit. The company looks at your credit report, debt-to-income ratio and overall financial picture to see if you are eligible to take on debt. 

REFERENCE

  • VA Loan Certificate of Eligibility (COE) 
  • How to request a VA home loan Certificate of Eligibility (COE)
  • Official eBenefits Portal
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    • Subscriber Id Insurance Card
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