How Long Does It Take to Get a VA Loan Certificate of Eligibility?
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How long does it take to get a VA Loan Certificate of Eligibility?
The answer may vary depending on the veteran’s individual circumstances, but we’ve provided a helpful guide to give you a general idea.
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Introduction
The Certificate of Eligibility (COE) is required in order to begin the Veterans Affairs (VA) home loan application process. Though applying for the COE can be done entirely online, it can take some time to receive – anywhere from a few days to a few weeks, depending on how you apply and whether or not you have all the required information.
If you’re interested in applying for a VA home loan, the first step is to get your Certificate of Eligibility. Though the entire process can be done online, it can still take some time to receive your COE – anywhere from a few days to a few weeks. The following steps will help you understand how long it takes to get your COE, as well as what information is needed in order to apply.
What is a Certificate of Eligibility?
The Certificate of Eligibility (COE) verifies to the lender that you are eligible for a VA-backed loan. TheCOE does not guarantee that you will get a loan. You still need to apply for and be approved for financing by a lender.
Lenders will usually require a COE before they process your loan application. If you have your Certificate of Eligibility, it will speed up the loan process.
You can apply for your COE in one of three ways:
-Online using eBenefits
-Through your lender
-By mailing VA Form 26-1880
How to Apply for a Certificate of Eligibility
If you’re ready to apply for a VA loan, the first step is to get a Certificate of Eligibility (COE). This verifies to the lender that you meet the basic service requirements for a VA-backed loan. It’s also necessary for recipients of certain disability benefits who want to apply for a specially adapted housing grant.
There are a few ways to get your COE:
-Apply online through the eBenefits portal. If you have an eBenefits account, you can login and select “Get a Certificate of Eligibility.”
-Work with a VA-approved lender. You can find one here, and they will help you get your COE through the Veterans Information Portal (VIP) website.
-Submit a paper application directly to your regional loan center. Gather the required documentation listed on the form, then mail or fax your completed application along with any supporting materials to your regional loan center.
*If you need help finding which regional loan center serves your area, call 1-877-827-3702.
It usually takes about six to eight weeks to get your COE once VA has all the information it needs from you.
How Long Does It Take to Get a Certificate of Eligibility?
The length of time it takes to get a Certificate of Eligibility (COE) can vary depending on a number of factors, including:
-The type of loan you are applying for
-The type of discharge you have (if you are a veteran)
-How you apply for your COE
If you apply online through eBenefits, you should receive your COE within a few days. If you apply through the mail, it can take up to six weeks to receive your COE.
Conclusion
The bottom line is that it can take anywhere from a few days to a few weeks to get your Certificate of Eligibility (COE). The best way to avoid any delays is to work with an experienced loan officer who is familiar with the VA loan process and can help you get everything you need in a timely manner.
