Certificate of Eligibility
One of the first steps in qualifying for Florida VA Loans is ordering your Certificate of Eligibility (COE). The Certificate of Eligibility will verify your VA loan benefits, and tell us how much you can qualify for. It will also tell us if you currently already have a VA loan, or if you have claims against your entitlement. Claims may arise if you had a prior foreclosure on a VA mortgage.
The Certificate of Eligibility will also tell us if you are exempt from the VA funding fee.
One of the main things we are looking for on the Certificate of Eligibility is your entitlement amount. Entitlement tells us how much you can qualify for. Your entitlement amount is 25% of the amount you can qualify for on a new VA loan.
- Example entitlement:
- $104,250 entitlement (this is “full” entitlement) x4
- $417,000 maximum amount you can borrow (includes VA funding fee)
There are several ways to obtain your Certificate of Eligibility:
- We can order it for you. The fastest and easiest way to obtain your Certificate of Eligibility is to have your lender order it for you. Because we specialize in Florida VA Loans, we can get it for you fast.
- Mail in order. You can also obtain your COE by mailing in a form to the VA. The turnaround time is usually about 2-3 weeks, at which time it will arrive through the regular mail.
- Go to your local VA benefits office. You can also obtain your Certificate of Eligibility by going directly into your VA benefits office, where they can help you to process the request.
- Order online. You can go to the VA benefits website and order the COE.
We would be happy to help you obtain your Certificate of Eligibility quickly, and help you read and understand it. Simply give us a call in the office at 561-316-6800 and we will give you straight, honest answers to all of your questions.