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    I could not have had a better experience. This was my first purchase and it was so smooth that I never felt uncomfortable at any point in the process. Josh kept me informed in every area and held out for the best VA rate. I knew at a certain point that they were not just doing business, but was looking out for my best interest. I was ready to close my VA loan in less than a few weeks. On every occasion Josh has kept his word to me. Nothing is more important to me. I will use them again and again. It was definitely a great experience. Thanks Josh! You are the man when it comes to VA loans.

    Robert
    Atlanta, GA
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VA Eligibility. Have a question regarding your VA Benefits?
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A veteran’s loan eligibility must be verified from the VA by obtaining a Certificate of Eligibility (COE). This is obligatory for all VA purchases and refinances. As part of the many complimentary services SmartVALoans.com provides for our clients, our VA Specialists will request and issue the COE on your behalf. One of the advantages for us as direct VA Lender is ability to access some of the VA’s applications that can verify eligibility and issue COEs online in a matter of seconds.


→ How can I obtain a Certificate of Eligibility?

As part of the many complimentary services we provide and to help expedite the processing of the COE requests our VA Specialists will request the COE on your behalf. We have access to internet based application can establish eligibility and issue an online COE in a matter of seconds. Not all cases can be processed through application - only those for which VA has sufficient data in their records. If we can not locate the COE initially we may need to provide the VA with further documentation such as a DD214, Statement of Service, or HUD-1. With our VA applications we have the ability to submit these forms online to help expedite the processing of your COE. If you choose to do it the old fashion way you can also fill out the VA form 18-1880 and mail it to the Winston-Salem, NC Eligibility center.

To jump start your VA loan and eligibility request apply for either a VA Purchase or a VA Refinance and we’ll get help you get started today!

→ How do I know if I am eligible to use or reuse a VA loan?

Listed below are the specific requirements necessary for all members to qualify. Of note, any service member who has been dishonorably discharged will not qualify.

  1. Active Duty Service Personnel are eligible after serving at least 181 days or 90 days during the Gulf War (8/2/1990 to date yet to be determined) unless discharged or separated from a previous qualifying period of active duty service.
  2. Special Two Year Requirement Period from 9/7/81 (10/16/81 for officers) until 8/2/1990 require 24 months of continuous active duty or the full period (at least 181 days) for which you were ordered or called to active duty.
  3. War Time veterans must have at least 90 days on active duty and been discharged under other than dishonorable conditions.
  4. Peace Time veterans must have served at least 181 days of continuous active duty and been discharged under any reason other than dishonorable conditions.
  5. Selected Reserves or National Guard unless otherwise eligible must complete a total of at least 6 years as a member of an active unit.
  6. Special Note: Some veterans may be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions convenience of the Government. In addition, some US civilians, surviving spouses, cadets in the military may be eligible for the VA loan. Please contact us with any uncertainty.

What is acceptable proof of military service if we can not issue your COE through out VA applications?

  1. Active Duty Soldiers
    If you are still serving on regular active duty, you must obtain a 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.
  2. Discharged Veterans
    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.
  3. Selected Reserves or National Guard
    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 point's 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.
→ How can I obtain proof of military service discharge paperwork like a DD214 if I’ve misplaced it?

Start by filling out the 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, the form 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.

→ What does it mean if I have $36,000 of entitlement available on my Certificate of Eligibility (COE)?

The $36,000 listed on the veteran’s COE states basic entitlement amount or insurance they are providing to the VA lender. This is not used as a down payment toward your mortgage; it is the amount available for the guaranty of your mortgage. For loans in excess of $144,000 to purchase or construct a home, additional entitlement up to an amount equal to 25% of the Fannie Mae/Freddie Mac conforming loan limit for a single family home may be available. This loan limit changes yearly. This means that qualified veterans could get a no down payment purchase loan of up to $417,000, effective January 1, 2006.

→ I have already obtained one VA home loan once before. Can I get another one?

Yes, a veteran borrower’s 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, the veteran is allowed to use their remaining eligibility if their prior VA loan has not been paid off or disposed of the property. In either case, to obtain restoration of eligibility, the veteran must get an updated COE. As part of the complimentary services we provide and to help expedite the processing of the COE requests SmartVALoans will apply for the COE on your behalf. Contact one of our VA Loan Professionals for more information.

→ 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.

→ 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, 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.

→ 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. Apply now for a VA Purchase or VA Refinance and get started!

→ Is the surviving spouse of a deceased veteran eligible for a VA mortgage?

Yes, 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. If you wish to make application for the home loan benefit as a surviving spouse you will need to speak with the VA to issue a certificate of eligibility. 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.

[NOTE: Also, a surviving spouse who remarries on or after attaining age 57, and on or after December 16, 2003, may be eligible for the home loan benefit. However, a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must apply no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 16, 2003 that are received after December 15, 2004.]

→ Are the children of a living or deceased veteran eligible for the home loan benefit?

Unfortunately, the children of an eligible veteran are not eligible for the VA home loan benefit.