Understanding the VA Loan Certificate of Eligibility (UPDATED 2021)

Jimmy Vercellino - MLO Specializing in VA Loans

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#valoans #preapproval #realestate
Serving Veterans is my civilian MOS! Need a mortgage or want to discuss your scenario? We are licensed and serving Veterans in 48 states for purchase and refinances.
Here is how to contact me:
1. Check your eligibility and receive a personalized evaluation of your VA Loan: connect.valoansforvets.com
2. Email me at jimmy@valoansforvets.com
3. Call me 602-908-5849
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Facebook- / valoansforvets
Jimmy Vercellino, Mortgage Loan Originator/Regional Residential Mortgage Director NMLS 184169 at First Western Trust
Corporate NMLS 477166
VALoansForVets.com Headquarters: 3602 E Campbell Ave, Phoenix, AZ 85018
Equal Housing Lender- For licensing, go to www.nmlsconsumeraccess.org
Top 1% VA Lenders in the Nation
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Understanding the VA Loan Certificate of Eligibility- Updated 2021. We're going to talk about the often confusing form known as the VA Certificate of Eligibility. Most veterans don't know how to read this form and while we've talked about it in the past, today we're going to give you an updated version. We can call it the VA COE masterclass. To learn more about VA home loan benefits make sure you like and subscribe to this channel.
What is the certificate of eligibility and how does it work? The most simple way of saying this is you're eligible for a VA home loan benefit. CONGRATULATIONS! But you still have some work to do. You still have to get pre-qualified. But the nice thing is you know you can take advantage of the VA home loan benefit. Reminder: you still have to have the credit, still have to have the income, etc. Having a copy of your COE at least lets you know you're eligible. Watch this video for details.
#VALoans #VALoansForVets #VAMortgages

Опубликовано:

5 дек 2021

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Комментарии : 107

@gatorbootswithnoguccisuits1505 18 дней назад

Thank you so much! You helped this old veteran out a lot. I will be paying it forward and giving out your page to fellow veterans

@JimmyVercellino 17 дней назад

My poleasure sir! Appreciate it!

@VFVT101 Год назад

As retired Army Veteran I was pleasantly surprised to see a Marine capable of making an informative video without asking for directions.........🤣😅😉 We understand that no one is perfect but you could have actually been a soldier.......lol Great job Marine....you are still welcomed at the family reunion of Veterans.

@JimmyVercellino Год назад

Haha! Love it! Thanks for the comment and most of all your service to our great country!

@JimmyVercellino Год назад

Haha! Love it! Thanks for the comment and most of all your service to our great country!

@billrojas782 Год назад

You explained exactly what I needed to know. Great job.

@JimmyVercellino Год назад

Glad it was helpful! If I can ever be a resource in any other way, please feel free to email me at jimmy@valoansforvets.com

@carlapage397 2 года назад

This is so informative and just what I needed. Thank you!

@JimmyVercellino 2 года назад

This comment is so appreciated and just what I needed! :-)

@ronstgrs Год назад

I could not have asked for a better explanatory video on the subject! You answered all of my questions and then some! Thank you!

@JimmyVercellino Год назад

Let's go!!! Brings me great joy to hear you say that Ron. Always here to be a resource if you need anything...Jimmy@valoansforvets.com

@fr3aky_baby36 2 года назад

Thank you 🙏🏾 so much for helping me understand all of this. I recently started the process and no longer confused on that part of things.

@JimmyVercellino 2 года назад

Comments like yours gives me motivation to keep producing videos. Thank you and may God Bless you for your service to our great country!

@EhhRell 2 года назад

Appreciate the video, I just applied for and received my COE and was confused on what the limit was. You definitely cleared that up for me. I liked the "Nobody's perfect" liner hooah 🤣🤣🤣

@davidroussell5118 Год назад

Dude, you're hilarious and VERY INFORMATIVE. Thanks for the great info!

@JimmyVercellino Год назад

Glad you enjoyed!

@tiffanyjones6224 2 года назад

Thanks so very much for ur content ur changing the game

@JimmyVercellino 2 года назад

My pleasure!

@maruseabucsek-edmunds1583 Год назад

Love it. I’m an Lo and a veteran. Of course I have my VA loan since 2001. Love your energy and the simple talk about the complex va loan.

@JimmyVercellino Год назад

Really appreciate the kind words Marusea!

@Mary_Dean Месяц назад

Disregard my comment on the last video. You explained it beautifully here. Thank you! I’ve never seen anyone explain this process better. Looking forward to engaging with you when ready to buy!

@JimmyVercellino Месяц назад

Glad it was helpful!

@JimmyVercellino Месяц назад

Glad it was helpful!

@cyberknife82 Год назад

Great video!!

@JimmyVercellino Год назад

Thanks for the visit

@caroljackson1313 5 месяцев назад

Oh this is exactly the information I was looking for. Thank you Sir your videos are VERY informative. I will be well prepared when I use my VA Loan.

@JimmyVercellino 5 месяцев назад

Love it Carol - here to be a resource and help when you're ready. Jimmy@valoansforvets.com

@fpiersol Год назад

AWESOME I was about to email you about this. THANKS

@JimmyVercellino Год назад

Let's go!!!

@albloomfield9120 Год назад

Hello, Jimmy! It’s Al Bloomfield in Florida. USA Army vet! I’ve watched your video several times, scrutinized it, and took detailed notes. You explained the VA certificate of eligibility better than anyone else I’ve ever met in the mortgage business. Thanks a lot, buddy! Looking forward to doing business with you!

@JimmyVercellino Год назад

Thanks Al!

@Azucenas126 10 месяцев назад

Thank you, thank you, thank you!!!

@JimmyVercellino 10 месяцев назад

My pleasure, my pleasure, my pleasure!!! ;-) Have a wonderful day!

@samsmusichub Год назад

Very helpful, thanks.

@JimmyVercellino Год назад

Glad it was helpful!

@tiffanyjones6224 2 года назад

Love the content

@JimmyVercellino 2 года назад

Thank you Tiffany!

@backbonesociety 4 месяца назад

Much Appreciated Brother! I never would of thought that My Senior Marine would still be guiding me. Lol Semper Fi 2/3 Echo - Knight-

@JimmyVercellino 4 месяца назад

KNIGHT!!!!! Much love brother!!!! Amazing to hear from you. Let's catch up soon. Hit me up at jimmy@valoansforvets.com

@backbonesociety 4 месяца назад

@@JimmyVercellino I most definitely will.

@avaruth7651 Месяц назад

Thank you! 🤘

@JimmyVercellino Месяц назад

My pleasure!

@MeditativeMindset 2 года назад

New Subscriber! I Love Your Channel!♥

@JimmyVercellino 2 года назад

Yes!! Appreciate you!

@osasosasco418 4 месяца назад

THE GOAT!!!!!!!!!

@JimmyVercellino 4 месяца назад

🤣🤣🤣💯💯💯💪💪💪

@IAmAdoraTaylor Год назад

Very helpful information! California (Los Angeles County) has about a $970k loan cap. This means that we would get the $36,000 + 25% of the loan cap. The 25% is about $242k. This was so helpful. I was sweating!

@JimmyVercellino Год назад

Happy you found the video to be of value Adora! Blessings and don't hesitate to reach out if you have any other questions -- jimmy@valoansforvets.com PS. I'm able to assist Vet's in CA.

@KJ-th7wh 2 года назад

this is a great informative video, thank you for sharing the info. Not sure why others are so salty

@JimmyVercellino 2 года назад

Thanks for watching!

@Oneman1life2live 2 года назад

Jimmy, Great video. All your videos are informative and easy to follow. Glad you didn't go with the death by PowerPoint method typical of military. I also have a 2 questions: First, How long is the Certificate of Eligibility good for? i.e. I know as a vet, the VA loan is my entitlement and really doesn't expire. But what if I get a CoE and for whatever reason don't purchase a home. Would you, as lender accept one that was issued 2 years ago? Or would I need to go back for a more recent CoE? Second, How far ahead would you recommend shopping to secure a loan prior to desired close/move in? Thanks!

@JimmyVercellino 2 года назад

Hello Sir - thank you for the reply and the words of encouragement . The VA COE must be updated every 6 months. Also I would begin the financing prequalification around 30 days before you get ready to start shopping for homes. Hope that helps - for more info you can visit my website www.VALoansForVets.com

@morethanamazinglove8673 2 года назад

OMG! Thank you for this!! I literally vomited in my mouth after seeing $36,000!!!! I was like there is no way!!!!! You literally saved my mind from worry! God bless you

@JimmyVercellino 2 года назад

Hey Morethanamazing! I'm glad my vids served as some pepto and gave you some relief :-)

@amybarber347 11 месяцев назад

Thank you, freaked me out.

@JimmyVercellino 11 месяцев назад

My pleasure!!

@greenboyvlogs 2 года назад

just got my COE and learned about the funding fee. I will apply for disability first for the fee to get waived hoping to get at least 10%. future home owner and thank u for all this!

@JimmyVercellino 2 года назад

It will def save you a lot of money long term!

@PHOENIXQ2024 Год назад

Thanks sir

@JimmyVercellino Год назад

Welcome

@St.PierreProductions Год назад

Thanks for this man! Buying a house now, and should be closing in 60 days! My question is,, where do you go to see the Bonus Entitlement? Because mine says just the $36,000 on my COE.

@JimmyVercellino Год назад

Reed right under the bonus entitlement verbiage - you should see it.

@hudson3510 2 года назад

Hi Jimmy, thanks for the explanation of the COE. A follow up question, if a veteran has used the entitlement previously, and the statement of eligibility says that “ this veteran’s basic entitlement is $0”, how would the veteran know if they still had any bonus entitlement available? Thank you and Semper Fi.

@JimmyVercellino 2 года назад

Hi Hudson, Do you have an existing VA Loan? If not, it simply needs to be restored. Your lender will be able to assist you with that.

@vaotawa9884 Год назад

Hi Jimmy, I am a spouse of a deceased Veteran, and had just received my certificate of eligibility yesterday. After reading the letter with all these confusing wording and figures as you have explained, I’m thinking, how the heck can someone purchase a home for $36k/$144k, especially here in California or anywhere else. I am so grateful and appreciative for this video so much, it helped me understand it’s contents clearly and not as confused as I was. Thank you for sharing. A new subscriber.

@JimmyVercellino Год назад

It brings me great joy to hear you share this. On behalf of a grateful nation we honor you husbands service to our great country.

@willwalker6527 Год назад

Thanks

@JimmyVercellino Год назад

My pleasure!

@Cingel08 2 года назад

Thanks for the information, question I have is I’ve used the VA Loan twice and with the first home I sold it and under status it says “Paid in Full/No Restoration” and under my second loan which is my home now it is “Active”. Because of these I have a Basic Entitlement of $0. What does restoration include if I paid that loan in full and thought I was done with it? Or do I not get that basic entitlement back again?

@JimmyVercellino 2 года назад

HI Stephen, that's a really good question. We would apply for the restoration which would allow you to re-access the remaining entitlement portion. Hope that helps...if you'd like to know exactly how much you have remaining let's schedule a call. www.VALoansForVets.com

@msimrow 2 года назад

Thanks for the explanation of this form. I seen the $36k and was thinking that could barely get me an RV, let alone a house! What should my credit score be to get the best loan? I'm currently cleaning up my credit to get my first VA loan.

@JimmyVercellino 2 года назад

That's why I'm hear sir! Semper Fi!

@starkybrito652 2 года назад

thank you

@JimmyVercellino 2 года назад

my pleasure Starky!

@carolinagarcia9786 2 года назад

Very helpful information and easy to understand! Does Goldwater Bank lend in all states? Moving to Washington soon and will be looking for a va home loan experienced lender

@JimmyVercellino 2 года назад

HI Carolina - you bet we do. I could personally be a resource for you if you'd like. Thank you! jimmy@valoansforvets.com or www.VALoansForVets.com

@geokafe8070 2 года назад

J, if I may address you as such. Thank you, your video made things simplistically understandable. Where are you licensed to Lend (states)

@JimmyVercellino 2 года назад

G, yes sir! I serve Veterans nationwide sir!

@dennisy2903 2 года назад

Question, on the "BONUS ENTITLEMENT", is that the max amount of $120,250 or does it vary by State? I'm in California, is it higher and if so, what will the amount be?

@JimmyVercellino 2 года назад

Depends on county sir. Where are you locates

@javierarocho1222 2 года назад

Great video Jimmy. I have prior loans, one active and one forclosure. Entitlement code is 5 and total entitlement charged to previous loans is 130,040*. Do I still have funding remaining? Thanks and Semper Fi

@JimmyVercellino 2 года назад

Sounds like you used about $520,160 on your first VA Loan? Does that sound right Javier?

@javierarocho1222 2 года назад

@@JimmyVercellino So the first house went to foreclosure and currently have a house of 270K through the VA loan. Would it be possible to use the VA home loan for a second house at the moment?

@BoostedMK6 Год назад

What about veterans with 100% disability and they have bad credit and debt to income ratio? Are we allowed to use our wife’s income as well?

@JimmyVercellino Год назад

Hey Boosted, you are. However, you still , as the Veteran, need to have the min credit scores.

@jessicaraye 2 года назад

Jimmy I understand what you said about disability with the funding fee, so would it be best to get my disability rating first before I apply for thr eligibility certificate? I have not got my disability done yet

@jessicaraye 2 года назад

Ok so you don't kinda answer my question.....so would I pay closing costs upfront out of pocket, or would it just be financed into my loan? Then once disability is done, it would be refunded to the loan

@JimmyVercellino 2 года назад

If you want to avoid having to submit for a refund after the fact you could. Hope that helps, if you have more question you can email me at jimmy@valoansforvets.com

@kimmi608019 Год назад

Hi Jimmy, I’m 100% service connected Total and Permanent and I couldn’t get my COE. What can be wrong, why I don’t get qualified for COE ? Thank you, Joe Rivera

@JimmyVercellino Год назад

Hey Joe - it sounds like it needs to be manually requested. I can help you with that. Pls send me an email at jimmy@valoansforvets.com

@christopherguerreri3304 Год назад

What happens if your basic entitlement is $0?

@JimmyVercellino Год назад

Then it will either need to be restored, or you can use the remaining bonus entitlement. If you shoot me an email at jimmy@valoansforvets.com I'll take a look and let you know exactly what to expect.

@phantomvapor Год назад

Jimmy, I'm in a pickle right now. Navy Federal is asking me for a VA Benefits award letter to justify the debt to income ratio. My request date for Fleet reserve is 30 SEP 2023 and the earliest I can file a claim is 03 April 2023. This one document is holding me up from proceeding on this loan. Is there another way of verifying or letting NF know that I'm good for the loan. I am almost certain that I will receive over 80% of service connected claims. How so you may ask, well I have MULTIPLE ailments that easily add up to over 200%. When I go to the VA website, it does produce a letter, but it is blank. I 've also given them my COE. Anyways, what can I do in this situation?

@phantomvapor Год назад

Also, my debt to income ratio comes out to 71% without this letter.

@JimmyVercellino Год назад

Hey Phantom, that's a tough one. Reason being a lender will not allow a Veteran to use proposed VA Disability. You would require a letter showing your rating amount, and the first payment date in order to use towards income qualification.

@phantomvapor Год назад

@@JimmyVercellino Yeah, the other option was a $90,000 down payment which I’m not going to do. I may back all the way out of this and go with a 30 year fixed conventional. Thanks Jimmy!🙏🏾

@kendalhayes6780 2 года назад

How did you get the bonus? is that Automatic? I am in Texas and I know the max entitlement is 647.000 and I am 100% disabled service connected . Please explain how did you get that number.

@JimmyVercellino 2 года назад

Hi Kendal, did you use a VA Loan originally? Do you still have that loan?

@kendalhayes6780 2 года назад

@@JimmyVercellino never used it but I blame on using it for a VA Construction loan for a duplex.