Part two in my series about VA Guaranteed Home Loans FAQs in the Eugene Springfield Area has to do with the Certificate of Eligibility or COE. This, sometimes, can be an involved process. There are even times it is necessary to involve a Senator or Congressman to get things done if you wait till the last to get it done or VA messes up.  This is part 2 of the series:

Q: How do I get a Certificate of Eligibility?
A: Complete a VA Form 26-1880, Request for a Certificate of Eligibility: You can apply for a Certificate of Eligibility by submitting a completed VA Form 26-1880, Request For A Certificate of Eligibility For Home Loan Benefits, to the Winston-Salem Eligibility Center, along with proof of military service. In some cases it may be possible for VA to establish eligibility without your proof of service. However, to avoid any possible delays, it’s best to provide such evidence.

Q: Can my lender get my Certificate of Eligibility for me?
A: Yes, it’s called Web LGY. Most lenders have access to the Web LGY system. This Internet based application can establish eligibility and issue an online Certificate of Eligibility in a matter of seconds. Not all cases can be processed through Web LGY – only those for which VA has sufficient data in our records. However, veterans are encouraged to ask their lenders about this method of obtaining a certificate.

Q: How can I obtain proof of military service?

A: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, Standard Form 180 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.

Q: I have already obtained one VA loan. Can I get another one?
A: Yes, your 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, you may have your eligibility restored if your prior VA loan has been paid in full but you still own the property. In either case, to obtain restoration of eligibility, the veteran must send a completed VA Form 26-1880 to our Winston-Salem Eligibility Center. To prevent delays in processing, it is also advisable to include evidence that the prior loan has been paid in full and, if applicable, the property disposed of. This evidence can be in the form of a paid-in-full statement from the former lender, or a copy of the HUD-1 settlement statement completed in connection with a sale of the property or refinance of the prior loan.

If you have questions about an VA Guaranteed Home Loan, please contact me, your Eugene Loan Guy. I am a Vietnam era veteran and have a VA loan myself. I would be happy to help you in your loan needs. Even if we can’t get you qualified today, I will spend the time with you getting things straightened out so you can qualify in the future. I am a Senior Mortgage Advisor with Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401. You can reach me at 541-342-7576/541-221-3455 cell or by e-mail.

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