Frequently
Asked Questions
General
- Eligibility - Pre-loan
- Construction/Valuation - Post
Loan
Eligibility
FAQs
Questions
about who is eligible for a VA loan and reuse of eligibility for another
VA loan
- How
do I apply for a VA guaranteed loan?
- How
do I get a Certificate of Eligibility?
- Can
my lender get my Certificate of Eligibility for me?
- What
is acceptable proof of military service?
- How
can I obtain proof of military service?
- I
have already obtained one VA loan. Can I get another one?
-
I sold the property I obtained with my prior VA loan on an assumption.
Can I get my eligibility restored to use for a new loan?
- My
prior VA loan was assumed, the assumer defaulted on the loan, and
VA paid a claim to the lender. VA said it wasn’t my fault
and waived the debt. Now I need a new VA loan but I am told that
my used eligibility can not be restored. Why?
- My
prior loan was foreclosed on, or I gave a deed in lieu of foreclosure,
or the VA paid a compromise (partial) claim. Although I was released
from liability on the loan and/or the debt was waived, I am told
that I cannot have my used eligibility restored. Why?
- Only
a portion of my eligibility is available at this time because my
prior loan has not been paid in full even though I don’t own
the property anymore. Can I still obtain a VA guaranteed home loan?
-
Is the surviving spouse of a deceased veteran eligible for the home
loan benefit?
- Are
the children of a living or deceased veteran eligible for the home
loan benefit?
1. How
do I apply for a VA guaranteed loan?
You can apply
for a VA loan with any mortgage lender that participates in the VA
home loan program. At some point, you will need to get a Certificate
of Eligibility from VA to prove to the lender that you are eligible
for a VA loan.
2. How
do I get a Certificate of Eligibility?
Complete an 1880:
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 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.
3. Can
my lender get my Certificate of Eligibility for me?
Yes, it's called
ACE (automated certificate of eligibility). Most lenders have access
to the ACE (automated certificate of eligibility) system. 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 ACE - only those for which VA has sufficient data in our records.
However, veterans are encouraged to ask their lenders about this method
of obtaining a certificate.
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4. What
is acceptable proof of military service?
If you are still
serving on regular active duty, you must include an original statement
of service signed by, or by direction of, the adjutant, personnel
officer, or commander of your unit or higher headquarters which identifies
you and your social security number, and provides your date of entry
on your current active duty period and the duration of any time lost.
If you were discharged
from regular active duty after January 1, 1950, a copy of DD Form
214, Certificate of Release or Discharge From Active Duty should be
included with your VA Form 26-1880. If you were discharged after October
1, 1979, DD Form 214 copy 4 should be included. A PHOTOCOPY OF DD214
WILL SUFFICE.....DO NOT SUBMIT AN ORIGINAL DOCUMENT.
If you are still
serving on regular active duty, you must include an original statement
of service signed by, or by direction of, the adjutant, personnel
officer, or commander of your unit or higher headquarters which shows
your date of entry on your current active duty period and the duration
of any time lost.
If you were discharged
from the Selected Reserves or the National Guard, you must include
copies of adequate documentation of at least 6 years of honorable
service. If you were discharged from the Army or Air Force National
Guard, you may submit NGB Form 22, Report of Separation and Record
of Service, or NGB Form 23, Retirement Points Accounting, or it’s
equivalent. If you were discharged from the Selected Reserve, you
may submit a copy of your latest annual points statement and evidence
of honorable service. Unfortunately, there is no single form used
by the Reserves or National Guard similar to the DD Form 214. It is
your responsibility to furnish adequate documentation of at least
6 years of honorable service.
If you are still
serving in the Selected Reserves or the National Guard, you must include
an original statement of service signed by, or by the direction of,
the adjutant, personnel officer, or commander of your unit or higher
headquarters showing the length of time that you have been a member
of the Selected Reserves. Again, at least 6 years of honorable service
must be documented.
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5. How
can I obtain proof of military service?
Standard Form
180, Request Pertaining to Military Records, is used to apply for
proof of military service regardless of whether you served on regular
active duty or in the selected reserves. This request form is NOT
processed by VA. Rather, Standard Form 180 is completed and mailed
to the appropriate custodian of military service records. Instructions
are provided on the reverse of the form to assist in determining the
correct forwarding address.
6. I have
already obtained one VA loan. Can I get another one?
Yes, your eligibility
is reusable depending on the circumstances. Normally, if you have
paid off your prior VA loan and disposed of the property, you can
have your used eligibility restored for additional use. Also, on a
one-time only basis, you may have your eligibility restored if your
prior VA loan has been paid in full but you still own the property.
In either case, to obtain restoration of eligibility, the veteran
must send VA a completed VA Form 26-1880 to our Winston-Salem Eligibility
Center. To prevent delays in processing, it is also advisable to include
evidence that the prior loan has been paid in full and, if applicable,
the property disposed of. This evidence can be in the form of a paid-in-full
statement from the former lender, or a copy of the HUD-1 settlement
statement completed in connection with a sale of the property or refinance
of the prior loan.
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7. I sold
the property I obtained with my prior VA loan on an assumption. Can
I get my eligibility restored to use for a new loan?
In this case
the veteran’s eligibility can be restored only if the qualified
assumer is also an eligible veteran who is willing to substitute his
or her available eligibility for that of the original veteran. Otherwise,
the original veteran cannot have eligibility restored until the assumer
has paid off the VA loan.
8. My
prior VA loan was assumed, the assumer defaulted on the loan, and
VA paid a claim to the lender. VA said it wasn’t my fault and
waived the debt. Now I need a new VA loan but I am told that my used
eligibility can not be restored. Why?
- Or -
9. My
prior loan was foreclosed on, or I gave a deed in lieu of foreclosure,
or the VA paid a compromise (partial) claim. Although I was released
from liability on the loan and/or the debt was waived, I am told that
I cannot have my used eligibility restored. Why?
In either case,
although the veteran’s debt was waived by VA, the Government
still suffered a loss on the loan. The law does not permit the used
portion of the veteran’s eligibility to be restored until the
loss has been repaid in full.
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10. Only
a portion of my eligibility is available at this time because my prior
loan has not been paid in full even though I don’t own the property
anymore. Can I still obtain a VA guaranteed home loan?
Yes, depending
on the circumstances. If a veteran has already used a portion of his
or her eligibility and the used portion cannot yet be restored, any
partial remaining eligibility would be available for use. The veteran
would have to discuss with a lender whether the remaining balance
would be sufficient for the loan amount sought and whether any down
payment would be required.
11. Is
the surviving spouse of a deceased veteran eligible for the home loan
benefit?
The unmarried
surviving spouse of a veteran who died on active duty or as the result
of a service-connected disability is eligible for the home loan benefit.
In addition, a surviving spouse who obtained a VA home loan with the
veteran prior to his or her death (regardless of the cause of death),
may obtain a VA guaranteed interest rate reduction refinance loan.
12. Are
the children of a living or deceased veteran eligible for the home
loan benefit?
No, the children
of an eligible veteran are not eligible for the home loan benefit.
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-- Equal
Opportunity Lender - Providing VA Home Mortgage Loans to U.S. Military
Veterans