A VA-guaranteed loan offers a number of safeguards and advantages over a non VA-guaranteed loan. For example, the interest rate is competitive with conventional rates with little or no down payment required. Also there is no monthly mortgage insurance premium as there is with conventional and FHA loans. State Street Home Loans has been originating VA mortgages for more than a decade.
Who Is Eligible?
Generally, the following persons are eligible:
- veterans who were discharged since 9/16/40, under other than dishonorable conditions
- military personnel on active duty who have served a minimum period
- certain Reservists and National Guard members
- surviving spouses of certain deceased veterans
Note: There are certain other groups of individuals who may be eligible. For information about these groups, contact us.
What Documents Do I Need to Provide the Lender To Receive a VA-Guaranteed Loan?
The lender will need a Certificate of Eligibility to prove that you are eligible for a VA-guaranteed loan. Certificates are issued by VA’s Loan Eligibility Center in Winston-Salem, North Carolina to eligible persons who apply for the certificate. Often times, your lender may be able to access VA’s secure web site and obtain a certificate for you.
How Can You Apply?
You can apply by requesting your lender to obtain a certificate for you through VA’s secure web site OR by completing one of the following forms and submitting it to the Loan Eligibility Center in Winston-Salem, North Carolina.
- Veteran/Servicemember: VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits
- Surviving Spouse: VA Form 26-1817, Request for Determination of Loan Guaranty Eligibility – Unmarried Surviving Spouse