1168Can a Veteran use Certificate of Eligibility (COE) that has been used before?

You may be able to “restore” an entitlement you used in the past to buy another home with a VA direct or VA-backed loan if you meet at least 1 of these requirements.
At least 1 of these must be true:

  • You’ve sold the home you bought with the prior loan and have paid that loan in full, or
  • A qualified Veteran-transferee agrees to assume your loan and substitute their entitlement for the same amount of entitlement you used originally, or
  • You’ve repaid your prior loan in full, but haven’t sold the home you bought with that loan (you can only do this 1 time)

Can the Spouse of a Veteran get Certificate of Eligibility (COE)?

You may be able to get a COE if you’re the spouse of a Veteran, and at least one of these descriptions is true for them.

At least one of these must be true:

  • The Veteran is missing in action, or
  • The Veteran is a prisoner of war (POW), or
  • The Veteran died while in service or from a service-connected disability and you didn’t remarry, or
  • The Veteran died while in service or from a service-connected disability and you didn’t remarry before you were 57 years old or before December 16, 2003, or
  • The Veteran had been totally disabled and then died, but their disability may not have been the cause of death (in certain situations)

Note: A surviving spouse who remarried before December 16, 2003, and on or after their 57th birthday, must have applied no later than December 15, 2004, to establish home loan eligibility.

What is the home loan limit if a Veteran has full entitlement?

Eligible Veterans, service members, and survivors with full entitlement loan limit for Texas is $726,200.

At least one of these must be true:

  • You’ve never used your home loan benefit, or
  • You’ve paid a previous VA loan in full and sold the property (in this case, you’d have your full entitlement restored), or
  • You’ve used your home loan benefit but had a foreclosure or compromise claim (also called a short sale) and repaid us in full.

Top Beneits of VA Loans
• Lowest monthly payment we o er
• Lower interest rates compared
to other loan options
• No monthly mortgage insurance
• No down payment required
• 100% inancing in most circumstances
• Minimum FICO score of 620 required