VA Mortgages and a Certificate of Eligibility

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Image courtesy of FreeDigitalPhotos.net

 

So, you are Military Veteran.  First off, Thank you so much for your service to our country.

Typically by the time a Veteran calls me, they already have received their Certificate of Eligibility, allowing them to pursue the pre-approval for their new home purchase.  There are a million places online that go over the benefits of a VA Mortgage yet very few walk through how to obtain the Certificate if you don’t have it.

To be clear, the Certificate of Eligibility is not your service record, it is a very specific form that someone receives from the VA (Department of Veteran’s Affairs). When I spoke with Debra (name changed), she thought she had her Certificate of Eligibility when we first spoke.  She was mistaken and that led us on a search to the quickest and fastest way for obtaining one. Here’s how  we got her Certificate:

There are 3 main options:

1. Call a local Lender.  In most cases, a good Lender can obtain this online.  If not…

2. Have your Lender send in the request – With this option, you will have to fill out a couple request forms, send these forms along with the proper service records to your Lender and wait while the request is processed. In many cases this can take up to a week or longer.

3. Call your regional VA Center.  From my conversations with the St. Paul MN location,  most Veteran’s can go directly to the center and walk out with their Certificate of Eligibility the same day.  My advice would be  to skip option 1 altogether.  It cuts out a middle man and a delay.  The sooner you have this form in your hands, the easier the mortgage process will be.   Here is a link to the VA offices: http://www.benefits.va.gov/benefits/offices.asp

Once you have this in hand, then it’s time to call your local mortgage professional and take advantage of one of the most affordable and best mortgage options on the market today. A well deserved benefit for the Men and Women that serve our country!

Have a great week!

Matt

 

 

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