VA Statement of Service: Why Do I Need One?
If you’re a military service member or a veteran looking to buy a house, a VA loan is often the best choice for helping you get into a home. No money down, low interest rates, and no mortgage insurance to pay make it a great benefit to utilize.
To qualify for a government-backed VA loan, you need to provide documentation that you currently serve in the military or are a veteran. Providing proof of service is required to obtain a VA loan and is designed to combat fraud.
The required documentation ensures only military service members have access to VA loan benefits, which are available to active-duty members, honorably discharged veterans, reservists, National Guard members, or surviving spouses (under certain circumstances). Minimum service requirements do apply.
Accessing Your VA Loan Benefit
In order to qualify for a VA loan, a lender will require a Certificate of Eligibility (COE), which is proof that you are eligible to receive the benefit. It’s important to note that not every military member is eligible for a VA loan. Eligibility can vary by military branch, for example. Also, those with a dishonorable discharge generally do not qualify. This is why a COE is required – to make sure that you qualify for a VA loan.
The COE comes from the Department of Veterans Affairs, and to obtain it, you’ll need to provide them with one of two items:
DD Form 214
If you’re a veteran, you can provide your DD Form 214 (your Certificate of Release or Discharge from Active Duty) as proof of your military service. If you do not have your original DD Form 214, you can follow the instructions here for requesting a copy.
Statement of Service
If you’re on active duty, you’ll need to provide a Statement of Service (SOS) to verify your status and that you are in good standing.
A Statement of Service is a letter from the military on official letterhead and typically includes the following information:
- Your personal information (full name, social security number, date of birth)
Your service record (branch of service, rank, etc.) - Whether you are eligible to reenlist or are barred or flagged from continued service
To have a Statement of Service letter completed and printed on official letterhead, you’ll need to contact your local military personnel office, headquarters, or commanding officer. It’s best to start this early in your VA loan process because sometimes it can take a bit of time to get the letter from military officials.
Got Questions?
Even if you find it a little cumbersome to gather the proper paperwork, like a Statement of Service, a VA loan has many perks (like that no down payment and no mortgage insurance that we mentioned earlier) that can make it worthwhile.
At National Home Loans, we’re happy to help answer any questions you may have about VA home loans and encourage you to contact us. We work with military service members and veterans every day, and our specialists are standing by!
