If you’re comparing home loans, you’ve probably come across VA Loans.
Sure, they sound appealing. Afterall, a VA Loan can mean as little as $0 down.
The catch, of course, is that not everyone qualifies.
This type of loan first came about in the mid 1940s. The idea was to help service members who didn’t necessarily have excellent credit or a down payment to buy a home.
To this day, VA Loans still make it possible for veterans and active military members to purchase a home.
To get a VA Loan, you have to either be a
- Active service member
- Military Spouse (certain qualifications)
A Certificate of Eligibility, or rather COE, is used to confirm you do indeed qualify for the benefits of a VA Loan.
If you do qualify, a…