f. Changes Occurring After Issuance of the Certificate of Commitment (continued)

If …

Then …

the loan is to be closed at an interest rate more than one percent greater than the rate indicated on the Certificate of Commitment

VA approval is needed.  Submit the Certificate of Commitment and a new URLA signed and dated by the applicant, or the original URLA with the change initialed and dated by the applicant, to VA for re-underwriting.

g. Conditional Commitments

VA may issue a conditional commitment in the following seven types of cases.  The lender must ensure compliance with the condition prior to loan closing.

Case

Condition/Notation on Certificate

Loan is to the spouse of a serviceperson missing in action or prisoner of war (MIA/POW)

“Prior to closing the subject loan, lender should obtain assurance from borrower that official notice of any change in the service member’s status has not been received and that the applicant is still the spouse of the service member.”

Reference:  See section 6 of this chapter, for required documentation.

Loan is to the unmarried surviving spouse of an eligible, deceased veteran

“Conditioned on borrower’s certification that status as an unmarried surviving spouse has not changed since the Certificate of Eligibility was issued.”

Reference:  See section 6 of this chapter, for required documentation.