For training opportunities related to processing, underwriting, and closing a VA home loan, please click here: Cleveland RLC Training
For more general information see the National Home Loan Guaranty Site
- VA guaranteed home loans benefit Veterans because they do not need to make a down payment and there is no upper limit or required cap on the income of the borrower. Without a down payment as security against foreclosure, lenders receive a certificate of guaranty from VA. In essence, as gratitude for honorable military service, the government is vouching for the Veteran's trustworthiness to repay his/her debt.
- To determine eligibility, a military Veteran, active duty person, or a member of the National Guard or selected Reserves, must submit a VA Form 26-1880 (2 pages) (Form is now in a FILLABLE format), along with proof of service (DD Form 214, a statement of active duty, or proof of participation in the National Guard or Reserves) to the VA Eligibility Center. P.O. Box 100034, Attn. COE (262), Decatur, GA 30331. Based on the applicant's length and type of service, VA issues a certificate for each
person determined eligible to apply for a VA guaranteed home loan. Check the status after ten days by calling 1 (888) 768-2132, option 1, between 8:00 - 4:00 Eastern time.
- VA regulates the closing costs that a Veteran can be charged when obtaining a VA home loan. The closing cost regulation is designed to keep lenders from charging Veterans those closing costs that VA has determined as being beneficial to the lender and not necessarily beneficial to the Veteran. For a list of allowable and unallowable closing costs, please follow the link below.
- The Prequalifying Worksheet will give you a general idea of what you can afford, and whether you are within VA underwriting guidelines for approval.  This Prequalifying Worksheet is not a commitment to lend, nor can it be used to determine whether a lender will approve the VA loan.   Please note, the Prequalifying Worksheet is in Excel format.    Prequalifying Worksheet