Wednesday, April 27, 2016

VA Loan eligibility status

VA loans, some considerations

Planning does go a long way in ensuring you can purchase the home you want. This is especially important if you’re considering a VA loan. As you know the government can sometimes be slow, so getting all of the information in advance will help you stay on your desired timeline.

One of the first steps anyone should take before deciding to purchase a house is to find out your eligibility status []. This needs to be taken care of a lot earlier than most people think, but it’s easy to do. Go to the VA Ebenefits page [] to get started. Click on the log in link at the top right of the page; you will have to accept the consent to monitoring disclaimer; you do not need a CAC card, there is a non CAC option (DS LOGON) to log into the site. If you haven’t been here before (and why haven’t you!?) you can click the Register button beside “Need a DS LOGON?” to get registered.

Once you are logged into the site you will need to upgrade your access to Premier, this does not cost anything so go ahead and do it.  You will need premier access to receive your Certificate of Eligibility for Home Loan.  I would encourage anyone who has served in Armed Forces and their spouses to validate his or her home loan benefit. Like I used to say when I was in if you don’t ask the answer is ready no, but if you ask or in this case take the time and register on the Ebenefits site the answer may surprise you. So ask or if you know someone who you think may or may not qualify have them register and check or help them to do it. Don’t assume anything!

Other Eligible Beneficiaries:

You may also apply for eligibility if you fall into one of the following categories:

•Certain U.S. citizens who served in the armed forces of a government allied with the United States in World War II

•Individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with World War II service, and others.

Now that we have checked your eligibility, in the next blog we discuss the benefits of using a VA loan.  Check back or subscribe to learn more as we explore VA Loans.

Catherine Seybold
Sales Agent
Coldwell Banker Residential Brokerage
Military Relocation Professional
Senior Real Estate Specialist

"The postings on this site are my own and don't necessarily represents Coldwell Banker positions, strategies or opinions."