In order to get a VA loan, you must have a Certificate of Eligibility. Luckily, you can secure it online in a matter of minutes. This can help cut down the time it takes to get your VA loan. In contrast, if you were to mail in for your certificate, you could find yourself waiting 6-8 weeks for a response.
Use the steps below to get your COE online.
First, you have to have a username and ID to get your Certificate of Eligibility online. Head here and click on ‘user registration.’ You’ll have to answer a few questions and then click ‘Next.’
On the next screen, you will answer personal questions. This includes information such as your name, social security number, date of birth, and gender, and contact information among other questions.
After you choose a user id and password, you’ll be ready to move on. The VA will send your user ID and password information to your email.
Logging Into Your Account
Once you receive your user ID and email address, you can head back here and log into your account. Once you are in your portal, you’ll see the link to click for your COE under the heading ‘My Home Loan Benefit Eligibility and Entitlement.’
Printing Your Certificate
Once you click on the link, your Certificate of Eligibility will appear. You can look it over to make sure it is accurate. Check your name, entitlement code, and branch of service on the top of the form. On the bottom, look at the amount of basic entitlement it states. Is it accurate?
If you don’t have any outstanding VA loans and you never defaulted on a VA loan, you should have basic entitlement of $36,000. If you used some of your entitlement, this number may be lower. If the number is lower, yet you don’t have any outstanding loans or have lost any entitlement, you may need to contact the VA.
The most common reasons this happens is when you neglect to petition for reinstatement of your benefits after paying off a VA loan and selling your home or if the VA has incomplete information about your file. When you call the VA, they can fix the issue and reissue your COE.
Please note that the COE won’t mention your bonus entitlement. It will, however, show the total amount of entitlement charged to your account. You can subtract that number from $113,275 to see how much total entitlement you have left, if any.
As you can see, it’s easy to get your Certificate of Entitlement. You will need this certificate in order to get the VA loan you want from a VA lender. The VA lender cannot proceed without this certificate, so it’s important to get it as soon as possible.