Certificate of Eligibility
Last modified June 7, 2023For all VA loans, You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. This document must be obtained by the veteran whether or not they are first time home buyers or not. If they have use the COE before and this is not their first home purchase with a COE, the Veteran may have to reapply for the COE.
Did you find this explanation helpful?
Top 10 terms for First-Time Home Buyers:
- VA funding fee
- Buyers Closing Costs you'll want to know about.
- ALTA (American Land Title Association) Closing Disclosure Statements
- Title company Escrow account
- Survey Fee
- Buy Down
- Buyers market definition
- Lender Inspection Fee
- Homeowner's or Hazard Insurance policy
- Government Sponsored Entity or GSE