certificate of eligibility
A veteran benefit, this proves eligibility for a VA-guaranteed loan. A vet may apply for this loan by submitting form DD-214 (Separation Paper) and VA Form 1880 (Request for Certificate of Eligibility) at a local Veterans Administration office. Keep in mind, these loans can be difficult to process and a FHA loan may be a better alternative.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
certificate
Noun: certificate, certification, credential, credentials (a document attesting to the truth of certain stated facts)
Noun: security, certificate (a formal declaration that documents a fact of relevance to finance and investment; the holder has a right to receive interest or dividends) "he held several valuable securities"
Verb: certificate (present someone with a certificate)
Verb: certificate (authorize by certificate)
eligibility
Noun: eligibility (the quality or state of being eligible) "eligibility of a candidate for office"; "eligibility for a loan"
Adjective: eligible (qualified for or allowed or worthy of being chosen) "eligible to run for office"; "eligible for retirement benefits"; "an eligible bachelor"
- certificate of eligibility -
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