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The first step to getting a VA loan is determining your eligibility. This section provides information on requirements for VA loan eligibility, and the eligibility application process.
While some types of VA loan refinancing won't use your credit score, for your initial VA loan most lending institutions will use a benchmark of some kind. On average, that number is around 620.
In order to qualify for a VA loan you'll need to provide your lending institution with a COE, or Certificate of Eligibility. The process to obtain a COE involves obtaining proof of service and filling out the right paperwork for your military branch. You can apply online or print out a COE request from the VA website. If you have access to your eBenefits portal you can receive your COE confirmation in just a few minutes. If you print out your form and wait for a mail response, expect the Certificate of Eligibility to take between 4 and 6 weeks.
According to the VA, you may still be able to get a COE if you were discharged for one of these reasons:
The first step in a purchase or refinance with a VA loan is to get rate quotes from multiple lenders. Often, your lender will then guide you through the rest of the process, from COE to closing.
Compare VA Loan rates with the Military.com VA Loan rate table.