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The VA Loan Process

 

The VA Loan Process is not all that difficult.  Apply for a Certificate of Eligibility. A veteran who doesn’t have a certificate can obtain one easily by completing VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits and submitting it to one of the VA Eligibility Centers with copies of your most recent discharge or separation papers covering active military duty since September 16, 1940, which show active duty dates and type of discharge

Decide on a home the buyer wants to buy and sign a purchase agreement Order an appraisal from VA. (Usually this is done by the lender.)
Apply to a mortgage lender for the loan. While the appraisal is being done, the lender (mortgage company, savings and loan, bank, etc.) can be gathering credit and income information. If the lender is authorized by VA to do automatic processing, upon receipt of the VA or LAPP appraised value determination, the loan can be approved and closed without waiting for VA’s review of the credit application. For loans that must first be approved by VA, the lender will send the application to the local VA office, which will notify the lender of its decision.

The other item needed for the loan is the DD214 Form. If the Veteran cannot locate the DD214, we can assist in acquiring this document.

Most VA refinances only take 3 to 4 weeks. On unusual feature of the VA Loan process is the requirement of a Termite Report. This might seem painful in some circumstances, but we as a lender can help contribute towards the cost of the termite clearance. This procedure is really dependent of the property conditions. Please ask us more about this and we can give advice to help accommodate. Lets begin the process today and save money every month. You may call us directly at  (888) 762-0220.