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When veterans apply for a VA loan they are required to provide a Statement of Service letter, otherwise known as a SOS. The Statement of Service letter has to be specifically geared towards a home loan, and can be obtained through your local office for military personnel.
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Most lenders recommend service members obtain their Statement of Service as soon as possible during the loan process, which can help expedite your loan approval. Alive and Well Documentation Using the power of attorney to obtain a VA home loan makes it necessary for the lender to verify the service member is both alive, and not missing in action.
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The statement service letter is composed for the purposes of acquiring a home loan. This needs to be addressed to the military personnel office. This letter helps verify whether the individual concerned in a military member, active or retired. He needs to have 6 years of service at least before retiring.
VA ASSUMPTION PACKAGE WITH RELEASE OF LIABILITY The loan must be current PRIOR to the receipt of the Assumption Package.The assumption process will NOT begin until the below items and monies required are received by our office. If the loan becomes delinquent during the
What Is A Statement Of Service Letter? When veterans apply for a VA loan they are required to provide a Statement of Service letter, otherwise known as a SOS. The Statement of Service letter has to be specifically geared towards a home loan, and can be obtained through your local office for military personnel.
Statement of Service example Archives – team move mortgage – Statement of Service Letter Requirements for a VA Loan November 8, 2016 / in 1st Time Buyers , Frequently Asked Questions , Products , Tips , VA Loans VA home loans are such a great way for our military to affordably finance a new home.
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In most cases this statement must also show the effects of the refinance through a summary of how long it will take the veteran to recoup the costs associated with the refinance. Lenders may use this sample document. This statement should be on the lender’s letterhead. See VA Lenders Handbook, Chapter 6, Section 1.d.