For most borrowers, they view applying for a loan as a daunting task. However, if you know what is required, you will have an easy time. For you to obtain a San Diego VA loan, you need to have with you some documents regarding your personal income and military service.
Documents You Need To Get A San Diego VA Loan
VA loans have lower credit scores and having your income verified is less strict as compared to other conventional loans. However, since the VA loans are some of the benefits that are bestowed upon servicepersons and military veterans, two documents are compulsory to obtain a VA loan and should be presented before closing. As a veteran, you should present the Certificate of Eligibility (COE) and Statement of Service or DD-214.
Certificate of Eligibility
This document is necessary to assure the financier that the borrower has met all the minimum standards to obtain a VA loan. There are two ways that you can acquire your Certificate of Eligibility. The first option is to file to the VA your Form 26-1880. The form requires you to fill in some basic information such as your name, your social security number, and your date of birth.
The other option is to ask your lender to fill the Certificate of Eligibility on your behalf. Some of the approved VA lenders can access these certificates in a matter of a few minutes and it will not cost you anything. Asking a VA-approved lender to fill the COE on your behalf does not mean you can only take a loan from them. The COE is portable and you can choose to work with other lenders.
This document contains all the details of your military service history and the terms of separation. This document is required if you served in the military but are not on active duty. Therefore, if you are no longer on duty, you should get the DD-214 after you depart from the armed service.
As an honorable veteran, your VA loan eligibility can never expire.
Statement of Service
If you are still an active service member, you do not need to present the DD-214 because this document is specified for veterans. However, you should provide evidence of your service duty, when you began your active duties and a signature from a senior officer or a senior assistant officer.
The statement of service document will have your full name, your date of birth, your social security number, your branch of service, and your rank. You will also have to indicate your last discharge if any and the type of discharge. In case you are a reservist, you should include a note that explains whether you are still an active reservist or if you are inactive.
Ensure You Write Your Statement Of Service On The Official Letterhead.
These are the most important documents you require for a VA loan and only in rare situations will you be asked to provide additional documents.