Veterans: Your Certificate of Eligibility May Tell Us More Than You Think
If you're a Veteran thinking about buying a home, you may have heard someone mention your Certificate of Eligibility , commonly called a COE . But what exactly is it? And why does it matter? As a fellow Veteran and VA Loan Specialist, the COE is one of the first things I want to review when helping another Veteran explore buying or refinancing a home. That's because your COE can tell us quite a bit about the VA Home Loan Benefit you've earned. What Is a VA Certificate of Eligibility? Your COE helps establish to a VA-approved lender that you meet the applicable military-service requirements for the VA Home Loan Benefit. But that's not the only useful information it contains. Depending on your circumstances, the COE can help us understand: Your VA home-loan eligibility Your available entitlement Previous entitlement that may already be in use Your VA funding-fee exemption status And, in certain cases, your monthly service-connected disability compensation That last one ...