How to Qualify for a VA Loan

Set an appointment with a VA loan Specialist such as myself and gather required documents (such as VA certificate of eligibility), DD214 or statement of service, most recent pay stubs, asset statements, tax returns, Etc.) to present during the pre-approval appointment, which help to assess qualifications.

• During the appointment. I will be glad to answer all your questions and concerns about VA Loans as well as purchasing a home. I will also give you a rough estimate of your qualifications.
• Assuming all documentation is complete and in order, I will issue a formal pre-approval letter within 24-48 hours.
• Once pre-approved, you are then ready to go find the perfect place to call home.
• As soon as your offer to purchase has been accepted and escrow opened, we will then need to begin working on getting your loan file ready for underwriting submission and VA appraisal ordered (Underwriters are there to reconfirm qualifications by reviewing documents such as; income stability, credit, termite report/clearance, and that the appraised value is acceptable prior to issuing an official loan commitment).
• When I receive a loan commitment a few days later, there will always be loan conditions to the approval (Usually extra documentation needed to solidify qualifications)
• As soon as the VA loan conditions have been gathered and the underwriter signs them off, then approx. 24-48 later the final loan documents will be drawn up and will need to be signed in the presence of a notary.
• At that point, you will then be instructed to wire the funds needed to close on your purchase to title/escrow and will officially close on your purchase within a day or two later.

If you should have any questions about VA Loans or about this process and would like to schedule an appointment, please click here or call me at 619-208-6499.  I am here to help you at either my Chula Vista office or my San Diego Office.

What is a Certificate of Eligibility?

Every veteran has to meet one of the following service requirements before they can obtain VA loans:

• 181 days of service during peacetime
• 90 days of service during war time
• 6 years of service in the Reserves or National Guard
• Some surviving spouses of veterans killed in the line of duty are also eligible

Lenders are required to get proof of a veterans service before starting the VA loan process. The COE serves as that proof, and tells a lender that an applicant has officially met the minimum service requirement.

How do I get my Certificate of Eligibility?

Three ways:

1. Ask your lender. The easiest and best method of obtaining a COE, in my opinion. VA-approved lenders can simply log in to the VA Portal and obtain your COE in minutes
2. Apply online.
3. Apply via mail.

Thanks for serving our country, I look forward to serving you!