How Do I prove to the Lender that I’m Eligible?

You’ll need a Certificate of Eligibility (COE) before you can get a VA-backed loan.  This section shows how you can apply for one. 


  • were discharged for a service-connected disability, or
  • were discharged for the convenience of the government after completing at least 20 months of a 2-year enlistment, or

The VA home loan is a benefit Americans receive from the government for serving their country as part of the military. Like many other benefits, VA loans have requirements the recruit must fulfill before they can be considered eligible to apply. For example, those serving in the National Guard or in the Reserves have a minimum duty requirement--six years of honorable service must be completed before the service member can apply for VA loan eligibility.

For those who have taken out VA mortgage loans in the past, gotten into financial trouble and had to resort to a short sale to avoid foreclosure, it’s easy to assume you’re locked out of the housing market because of those circumstances. But the good news is, that is not true.

While borrowers are required to wait as long as three years before applying for a new VA home loan, there are lenders willing to work with a buyer after only a two-year wait.

. What service is not eligible?

You are not eligible for VA financing based on the following:

Certain United States citizens who served in the armed forces of a government allied with the United States in World War II.

Unremarried surviving spouses of the above described eligible persons who died as the result of service or service-connected injuries. (Children of deceased veterans are not eligible(

You are eligible for VA financing if your service falls within any of the following categories:

The Emergency Homeowners’ Loan Program (EHLP) is intended to offer a zero interest, forgivable bridge loan to homeowners who are experiencing a drop in income of at least 15% directly.

This drop in income may result from involuntary unemployment or underemployment due to adverse economic conditions and/or any medical emergency.

Borrowers will have to meet the basic credit standards. However, the loan is not "score driven".

  • Borrowers can prepay the loan without penalty.
  • The closing costs are limited by VA.
  • Borrowers will not have to pay private mortgage insurance (pmi).
  • Borrowers can get assistance if they're unable to make payments.
  • VA loans are assumable, but the person assuming the loan should be qualified.


  • Generally, VA guaranteed loans are 15 or 30 years fixed rate products-all fully amortized.
  • VA loans are all for property occupied by the owner and from one up to four unit family homes.
  • The Veterans Administration charges a funding fee based on the total loan amount. It is based upon loan- to-value, the Veteran's status and whether the Veteran has used the loan program earlier. This fee may be paid in cash or financed.

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