 TITLE: What Is a VA Loan? CONTENT: How Do I Qualify for a VA Loan?\n-------------------------------\nThe first step in obtaining a VA home loan is reviewing your service record (or that of your spouse) to make sure you meet the necessary eligibility requirements.\nNext, you must obtain a Certificate of Eligibility (COE) as proof to the lender that you are a legitimate candidate for a VA loan. You can get a COE in any of three ways:\n*   Complete an online form at the VA's eBenefits website.\n*   Provide records of your military service to a lender that issues VA loans, and they can generate a COE for you.\n*   Fill out and submit a COE request form by mail.\nDocumenting your eligibility to receive a VA loan doesn't automatically entitle you to one. You still must apply for and qualify for a loan by meeting the lender's credit and income qualifications. The VA sets guidelines for these qualifications, but each lender has some discretion in determining their lending criteria.\nWorking within VA guidelines, lenders also set their own interest rates and fees. Many financial institutions advertise and promote their VA loan offerings, but if you need help finding a VA loan issuer, you can contact the VA Regional Loan Center that serves the area where you plan to buy a home.\nIt's a good idea to identify a lender and get prequalified for your loan before you start shopping for a home. Prequalification will let you know how much you have to spend on your home. To get prequalified, you'll typically need to meet the lender's minimum credit score requirement and show proof of sufficient income to make the monthly mortgage payments.\nIt's also smart to apply to multiple lenders when seeking a VA loan. If your credit score is on the low side, you may not be approved by all lenders. And even if all your applications are approved, there's a chance one lender will offer a better interest rate than another. As with any loan, seek out the best rate and terms you can get. END