Manual VA Certificate of Eligibility Timeframe

Posted by
Manual VA Certificate Process Time
VA Certificate of Eligibility Manual Processing Time

For those that feel VA home loans take too long, (I am not one of them) here is one more point to back your claim.  Processing times for certain VA Certificates of Eligibility have lengthened.  As of May 2014, the VA quotes up to 14 calendar days for manually processed VA Certificates of Eligibility (“VA COE”).

Apply for a VA Home Loan Now

Adjust for Manual VA COE Processing

Every VA home loan must be accompanied by a VA COE.  VA Certificates of Eligibility are processed either manually or automatically.   Typically, a mortgage lender electronically requests a VA COE and one is automatically provided by the VA right away.

However, from time to time Certificates of Eligibility are manually processed by the VA.  There are several reasons for this.  For example, a previous VA related short sale or foreclosure are both common reasons for a manual COE.  Due to the fact that manually processed VA COE’s now take up to 14 calendar days,  proper planning is imperative.

Avoid VA COE Related Closing Delays

Benjamin Franklin once said “An ounce of prevention is worth a pound of cure”.  VA COE’s follow that logic Franklin originally applied to fire safety.  Hedging future issues related to a slow VA COE process is simple. For example, agents on either end of the transaction could thwart a COE related delay very easily.

Apply for a VA Home Loan Now

Buyer’s or Listing Agent VA COE Confirmation

Real estate agents representing VA home-buyer need to ask what the status with their client’s VA COE is.  In other words, ask the buyer’s lender if they are in receipt of Certificate of Eligibility before going under contract.

While the mortgage lender is responsible for obtaining a VA COE before issuing a prequal letter, agent’s should still protect their clients.  In conclusion, educating everyone helps more VA loans close on time and without surprises.  Finally, visit our team website to learn more about VA home loans.

By Jeremy House

Leave a Reply

Your email address will not be published. Required fields are marked *