Obtaining a COE for a VA Home Purchase
Applying for a VA home loan is very similar to that of a traditional mortgage loan. the only difference is that VA borrowers must be able to proved what is called a Certificate of Eligibility (COE).
All of VA’s borrowers must meet all of program conditions and guidelines before they can qualify for a VA home loan. The COE that is required by all borrowers is a type of proof that lets a lender know in writing that the borrower is in fact eligible for the loan, and ensures that all minimum standards and requirements are met.
How To Obtain Your COE
Among the multiple ways of obtaining a COE. The easiest way is to ask your VA approved lender to access the Department of Veterans Affairs’ site and utilizing their web-based Loan Guaranty System (LGY). This system is only accessible for VA approved lenders to log on to.
The VA’s LGY system is the quickest way to obtain a Certificate of Eligibility. This method results in minutes rather than waiting several days or weeks. Sometimes, however, there may be insufficient data provided by the web-based system, so USPS is the only way to go even though the VA encourages use of the system.
Submitting Form 26-1880
The form used in requesting for a COE is Form 26-1880. This form must be completed by all active-duty military members and veterans alike in order to complete the order request.
This form supplies the VA with all data needed on the borrower in order to fulfill the document on the certificate. The COE request form can be done online or via mail. In order to submit the form electronically, the lender must help submit it for you through the web-based system LGY.
Basic information is required on the form and usually only requires the individual’s:
- Full name
- Date of birth
- Contact number
- Residential address
- Any aliases used
Keep in mind that, even though this is a short and brief, but there are some important information needed on the form for full completion, such as:
- Date of service in the military
- Current status in the military
- Any information on a previous request of a VA loan.
For all active-duty servicemembers there may be additional information required as well. These additional statements required must also be signed off by the commander of stated unit, headquarters or office personnel. If you do need assistance in gathering these information or getting the documents signed, you may ask your lender for help.
There may be additional documents needed as well, such as a copy of the report of which you were discharged from the service, a Certificate of Release or discharge from duty, and a DD form 214. The documents must state your position and duty in the military and the reason as to why you were discharged.
Submitting Form 26-1817
For all members of the National Guard, Reserves, and military spouses there is a different form known as Form 26-1817. These individuals do however need to provide a Certificate of Eligibility as well. Keeping in mind that their COE information may not be the same as the COE required for other active-duty military members and veterans. This form may not be able to be submitted electronically either.
All eligible surviving spouses must complete the form and submit it by mail, which can delay the processing time as it can take up to several months when using this method. It is ideal for those who are trying to apply for a VA mortgage loan to plan out the timeline of request for such documents.
