For Army or Air Force National Guard you will need your NGB Form 22, Report of Separation and Record of Service, or NGB Form 23, Retirement Points Accounting, or it's equivalent (this is similar to a retirement points summary). For most veterans, this will be a copy of your DD214. Our researchers are experts in acquiring the documents that are required by the VA for their home loan program. Touchstone will acquire your DD214 and other necessary documents to support your military service. There's where our service comes into play. To request a Certificate of Eligibility for VA home loan benefits, you must complete VA Form 26-1880 and submit it to the VA Eligibility Center along with acceptable proof of service as described on the instruction page of the form. That is the document that you will provide to your prospective lenders. Once the VA has determined that you are qualified for the program, they will issue you a Certificate of Eligibility. The qualifications can be found on their website, General Rules for Eligibility. The VA determines if you are qualified for the VA Home Loan program. The financial savings for the veteran can be many, many thousands of dollars over the veteran's lifetime.īut do you qualify for a VA Home Loan Guarantee? The benefit that veterans gain from VA’s Home Loan program offers several advantages relative to conventional loans or other available alternatives, including: no down payment limitations on closing costs no private mortgage insurance easier credit standards to qualify for a loan default assistance to avoid foreclosure and recognition of service to country. The definition of a qualifying “veteran” was expanded to include active service members to support the volunteer military and, later, members of the Selected Reserve in recognition of growing active/reserve Total Force mission sharing. The program was extended to cover special groups such as those needing specially adapted living facilities and Native Americans living on trust lands in recognition that their unique needs should also be served by the program. The initial short-term or one-time benefit program has gradually expanded until it has become a permanent benefit that can be used multiple times over a lifetime. For these reasons, the program has been made permanent, and benefits have been extended to qualifying members still on active duty, to members serving in the Selected Reserve, and to certain surviving spouses.Ĭongress has continually expanded coverage, added features, and sought to maximize the program’s appeal and utility to veterans. In addition, Congress has recognized that VA housing benefit provides incentive value for the volunteer military. The VA Home Loan Guarantee program's intent has evolved from its original conception for transition assistance for World War II veterans into the premise that housing assistance is justified for any period of active service, not just wartime service, because service removes the veteran from civilian life. And as a veteran, you have distinct benefits and advantages. Congratulations! You're about to buy a new home.
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