What must a borrower obtain to guarantee a VA loan?

To guarantee a VA loan, a borrower must obtain a certificate of eligibility. This certificate is essential as it verifies the borrower's eligibility for the VA loan benefits based on their service history and other factors. The purpose of the certificate is to ensure that the borrower meets the qualifications set forth by the VA, demonstrating that they are entitled to access these specific loan benefits.

While a credit report, proof of income, and a purchase agreement are all important components in the loan application process, they do not serve as guarantees for the VA loan. The credit report assesses the borrower's creditworthiness, proof of income confirms their financial stability, and a purchase agreement relates to the terms of the home purchase. However, without the certificate of eligibility, the borrower cannot utilize the VA loan program, as it explicitly validates their service eligibility for this particular benefit.