We pit an offer in 56 days ago. I hadn't started the PEB/MEB process. 3 days ago my status apparently changed and the VA lending fee was waived. Great. But yesterday we was supposed to close and sign at the title company. The lender hadn't approved the loan because my status changed, but I haven't done all my medical appointments, my ETS date is well over 1 year. And I definitely don't have a rating. The VA says I WILL be entitled to some disability. Nothing more. Any advice? They pushed closing a week, and trying to get an answer. As far as I'm aware, I'm still active, and I've not been told I'm unfit for duty as of rn.
Urgent advice VA loan PEB/MEB
- Thread starter spcray11914
- Start date
If you are still active duty and want to close on the loan you will have to pony up the funding fee for the VA loan. Even when finalized for VA compensation (which will take about 6-8 weeks after you get out) your VA disablity award will be backdated to the day after you get out. That is when you are eligible. So if you want to move forward that is the price you have to pay by not waiting to put an offer on a house until after you retire or ETS etc.
Okay so if I forfit the funding fee we'd be okay? I don't care if I pay it. It's covered in seller credits. Just want to be able to close with my LES and not have my PEB process (that's not even close to done) interfere.
I think so. You need your VA loan entitlement pulled by the lender. See this link. How to request a VA home loan Certificate of Eligibility (COE) | Veterans Affairs
They probably have already pulled it. I think the hang up is just that they want document of being exempt for the funding fee. You can't provide that since you aren't out yet.
Thank you! Hopefully that's it.