VA Form 26-6705b: Credit Statement of Prospective Purchaser – VA Form 26-6705b, titled Credit Statement of Prospective Purchaser, is an official document used by the U.S. Department of Veterans Affairs (VA) in the process of selling VA-acquired properties. It serves as a credit application to evaluate the financial qualifications and creditworthiness of individuals interested in purchasing these properties, particularly when seeking VA vendee financing (a loan directly from or guaranteed through VA for buying VA-owned homes).
The form collects detailed personal, employment, income, asset, and liability information. It is typically submitted alongside VA Form 26-6705 (Offer to Purchase and Contract of Sale). The current version is dated January 2023 and expires on January 31, 2026.
Download the latest VA Form 26-6705b here: VA Form 26-6705b PDF
Who Needs to Complete VA Form 26-6705b?
Prospective purchasers of VA-acquired (REO) properties who are applying for financing through the VA must complete this form. It is required when the buyer’s credit and income need verification for loan approval in VA property sales.
This form is particularly relevant for:
- Veterans, active-duty service members, and eligible surviving spouses.
- Buyers pursuing VA vendee loans for foreclosed or acquired VA properties.
- Situations where standard private lender financing may not apply directly to the purchase.
If you are making an offer on a VA-owned home and requesting financing, expect to provide this credit statement.
Purpose and Importance of the Credit Statement
The primary purpose of VA Form 26-6705b is to allow the VA to assess your ability to repay the loan by reviewing:
- Employment history and income stability.
- Assets (bank accounts, real estate, vehicles, etc.).
- Liabilities and existing debts.
- Credit history (via authorization for reports).
This information helps determine if the offer can proceed to loan approval. Accurate completion is critical, as false information can lead to penalties or criminal prosecution. The form includes authorizations for the VA to verify information from employers, banks, and credit bureaus.
Note: Providing this information is voluntary, but failure to do so may delay or prevent processing of your purchase offer.
Key Sections of VA Form 26-6705b
The two-page form includes several detailed sections:
- General Information: Applicant name, address, property details, down payment, requested loan amount, and marital status.
- Employment and Income: Current and previous employers, monthly income, job titles.
- Assets: Cash, savings, stocks, real estate, vehicles, etc.
- Liabilities and Credit: Debts, loans, credit accounts, landlord information, and any delinquencies, bankruptcies, or foreclosures in the past seven years.
- Spouse/Co-Applicant Information: Required in certain cases, such as community property states or when relying on joint income.
- Authorization to Release Information: Signed permission for VA to access employment, financial, and credit records.
- Acknowledgments and Certifications: Legal statements about debt collection, non-discrimination, and accuracy of information.
- Monitoring Information: Optional demographic details (race, ethnicity, sex) for federal compliance.
Supporting documents often include income verification (pay stubs, tax returns), bank statements, and explanations for any credit issues.
How to Fill Out and Submit VA Form 26-6705b?
- Gather Documents: Collect recent pay stubs, W-2s, tax returns, bank statements, and details of all assets and debts.
- Complete Accurately: Fill in all relevant fields. Use additional sheets if needed for employment history or extra accounts.
- Sign and Date: Both applicant and spouse/co-applicant (if applicable) must sign the authorization and certifications.
- Submit with Offer: Attach to VA Form 26-6705 and follow instructions from the selling broker or VA service provider.
Work with a VA-approved lender or real estate professional experienced in VA properties for guidance. Always review the official form instructions on the PDF.
Common Questions About VA Form 26-6705b
Is this form the same as a full VA home loan application?
No. It is specific to purchasing VA-acquired properties and functions as a credit statement for vendee financing, distinct from standard VA purchase loans using private lenders.
What if I have credit issues?
Disclose any delinquencies, bankruptcies, or foreclosures honestly in the designated section. The VA evaluates the full credit picture, and past issues do not automatically disqualify you if you have re-established good credit.
Where can I find more VA home buying resources?
Visit the official VA Housing Assistance page: VA Home Loans or contact a VA Regional Loan Center.
Tips for a Successful VA Property Purchase
- Check your credit report in advance from AnnualCreditReport.com and correct any errors.
- Prepare strong documentation to demonstrate stable income and sufficient assets for down payment and closing costs.
- Work with experienced professionals familiar with VA REO sales.
- Be prepared for the full loan underwriting process, including appraisal and other requirements.
For the most current information, always refer to official VA sources. This form is part of efforts to make VA-owned properties accessible to eligible buyers while ensuring responsible lending.