![]() This is a code you’ll see if you have used your VA loan benefit previously. ![]() While looking at the table of entitlement codes above, you may have noticed code 05. However, most people will see a “Non-Exempt” notation in this field.Īnother thing that is important to note. For example, if you receive compensation for a service-connected disability, or if you are a surviving spouse of a Veteran who died in service or due to a disability you will be exempt. Almost everyone pays the funding fee, but there are some who are exempt. The funding fee goes directly to the Veterans Administration to help cover the costs of the VA loan program. This fee is charged to almost every VA loan that is approved and processed and is calculated using a percentage of the total amount of the loan. This area on the COE will tell you whether or not you are exempt from having to pay a VA funding fee on your loan. Veteran must have been POW/MIA for 90 days These are especially helpful to know for spouses of service members.ĩ0 continuous days (or 181 during peacetime) The table below summarizes some of these additional situations. There are also other ways you can be eligible for a VA mortgage loan. If you have a VA loan eligibility entitlement code of 10, that means your dates of service put you in the Persian Gulf War era, and you are eligible because you served 24 consecutive months. Take a look at the chart below for the dates of each era: EraĢ years or period of active duty., not less than 90 days What is an Era? Merriam-Webster defines an era as “a fixed point in time from which a series of years is reckoned.” The VA set the time period of each era down to the day so there is no question about your home loan eligibility. The chart below outlines what each code means. The codes start with World War II (01), and continue up to the present day. The government came up with a series of time periods, or “Eras” to help determine a service member’s or veteran’s loan eligibility status. It’s this code that states you are eligible for the VA home loan benefit. The VA loan Certificate of Eligibility Entitlement code is assigned by the VA and represents the time period in which you served your military duty. ![]() You can find exactly what documents you’ll need for your specific circumstance on this chart provided by the VA.Īs you look over your COE, you’ll find five key areas to pay attention to: The documents are different depending on whether you receive Dependency and Indemnity Compensation or not. Surviving spouses are also able to obtain COE’s. If you are an Active Duty Service member, you’ll need a current statement of service. If you are a Veteran, you’ll need a DD Form 214. You will need to provide some documentation, and what you need changes depending on your service status. However, it’s relatively easy to get one directly from the eBenefits portal. Often times, the quickest way to get your COE is to ask your lender to request it from the VA on your behalf. It states your eligibility for VA loan benefits along with the amount of your entitlement. Your COE is an official document that comes directly from the VA. When you apply for a VA loan, one of the first documents a lender will ask you for is a Certificate of Eligibility.
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