If you are applying for a VA mortgage or for an Interest Rate Reduction Refinance Loan (IRRRL) to refinance a VA loan, one thing you will need to provide with your documentation is your Certificate of Eligibility, or COE. Wondering what a Certificate of Eligibility is, and how you can get yours? Let’s go over what you need to know when you submit your application.
What is a COE?
A Certificate of Eligibility is exactly what it sounds like. This is a document you get from the Department of Veterans Affairs. It is how the VA verifies that you meet the requirements for a VA mortgage.
Actually, what a Certificate of Eligibility consists of depends on your status as well as the branch you served in. For example:
- Veterans must provide a copy of their discharge or separation papers (DD214).
- Active-duty service members need to have their commander, adjutant or personnel officer sign a statement of service.
- Current or former National Guard or Reserve members that were activated need to provide a copy of their discharge or separation papers (DD214).
If you visit this link, you can check out exactly what paperwork you need to provide depending on your status. We only gave a few examples above.
How to Get Your COE
You do not need to request your Certificate of Eligibility on your own. Your mortgage broker can help you out with this step, going through the Web LGY system for you. That way, you do not need to jump through these hoops, and can just focus on other aspects of your application process. However if you chose to request it yourself you can follow the steps below.
Once you know what you need, your next step is to get it. There are a few different ways you can approach this:
- Online. The VA has a web portal called the Web LGY system. It may be possible to obtain your Certificate of Eligibility using this online portal, and skip paper mail (see below). This is usually the fastest way to get your COE.
- Mail. If you want to go through mail to get your COE, you need to fill out VA Form 26-1880, which is the “Request for a Certificate of Eligibility” form. It will take you longer to get your COE if you choose this method.
Let Us Help You Apply for a VA Mortgage
At Blue Square Mortgage, we make it easy to apply for a VA loan in Seattle or elsewhere in WA state. We can assist you with obtaining your COE, and answer any questions you have about eligibility for VA loans. To get started now, please give us a call today at (206) 352-6453.