va loan requirements statement of service letter

VA Loans

VA Loan Requirements: Statement of Service Letter

VA Loan Requirements: Statement of Service Letter

When you apply for a traditional home loan, there’s not much in the way of additional requirements that you have to satisfy. This makes it simple to apply for the loan and get approved quickly. But if you’re an active service member in the military, a VA loan can end up saving you money and help you get into a home you love while you’re in service. The VA loan requirements differ from those of a standard mortgage, and the most important for active members is the statement of service letter. 

VA Loan Requirements – What You Need to Know about the Statement of Service Letter

A statement of service letter is an official document that verifies an individual’s employment status in the military. It’s one of the basic requirements for a VA loan. Here’s what your letter needs to include.

Official Letterhead

Your commanding officer should have access to official letterhead when creating your statement of service letter. This helps show that the letter came from someone in the armed forces who is familiar with your service. Without that letterhead, there’s no way to know for sure that you served and are able to fulfill the VA loan requirements in the first place.

Relevant Information

At a bare minimum, your CO should provide your date of birth, rank, date of active duty, date of separation (if relevant), current deployment, and any other details pertaining to your service. They should also include any additional military-related sources of income such as parachute pay, special duty pay, and flight pay. If you’ve been honorably discharged, they should also state your ability to re-enlist should you so desire. This info is used to further validate your eligibility.

It’s a Supplement

A statement of service letter is a supplement to your personal information and Certificate of Eligibility. It’s not a substitute for other VA loan requirements. Without your C.O.E., your application will be denied even if you’re an active service member. Lenders who work with the VA are subject to their rules when supplying VA home loans. If you don’t qualify for a VA loan, you’ll need to consider applying for a standard mortgage.

Are You Ready to Buy a Home?

If you’re an active military service member and meet the VA loan requirements, a VA home loan is a smart option. If you don’t, a standard mortgage can still get you into your dream home. Apply today.