PROCESS OVERVIEW

So you’re thinking of buying your first house. What are the steps to taking full advantage of the VA Loan?

http://www.valoancaptain.com/wp-content/uploads/2015/03/applicaton-approved.jpg

Steps to take:

1- Create a budget. If you don’t have a household budget, you should think of creating one. It is simply a plan for saving, spending, and borrowing. Your budget will help you understand how much you can afford to spend on a house and home loan. See Chapter 8 of our free VA Loan book for detailed information on creating a budget.

 

2- Verify eligibility. Verify your eligibility for a VA loan by obtaining your Certificate of Eligibility (COE). We can help you do this or you can do this yourself or with your VA lender. See here for more details.

 

3- Select a VA Lender. Work with lenders that are VA-approved (it will say so on their website / if you ask them), and loan officers that have at least five years of experience working with VA loans. All of the lenders on VA Loan Captain are VA-approved and experienced with VA loans. See Chapter 9 of our free VA Loan book for detailed information on selecting a lender.

 

4- Select a Realty Agent. An Agent will help you find your new home and is compensated by the seller, not by you.

 

5- Find your new home. There are many factors to take into account, such as price, number of beds/baths, neighborhood, commute time to work, school zone, public transport, etc.

 

6- Receive preapproval letter. The preapproval letter is issued by your VA Lender stating that you have applied for a VA mortgage and that your income, credit, and assets have been reviewed and approved.

 

7- Negotiate and make offer for home. You work with your Realty Agent to make an offer for a home, negotiate a sale price, and reach a final agreement.

 

8- VA Appraisal. Your VA Lender will request your most recent paycheck stubs, copies of recent bank statements, tax returns, and other financial information. These will be used to ensure that your loan meets the VA loan requirements.

 

9- Closing. Once your loan conforms to VA requirements, the VA lender will order your closing papers and ensure that all necessary funds are collected. Once the VA lender is satisfied that everything has been completed, funds will be disbursed.

 

10- Welcome to your new home!

 

If you want more free information on budgeting, debt, mortgages, credit cards, or your credit score, speak to our partners over at VeteransPlus.

 

SPEAK TO A REPRESENTATIVE

 

 

COMPARE RATES FROM MULTIPLE

VA LOAN LENDERS INSTANTLY

VA Loan Captain, Inc. is a service disabled veteran owned small business registered in the state of New Jersey. VALoanCaptain.com® is a diversified housing, benefits, education, and services platform assisting current and former servicemembers to receive the information, value, and services that they deserve. VALoanCaptain.com® has partnerships with veteran focused non-profits and charities that provide services to veterans but is not affiliated with the VA or any government agency.

© 2017 VALoanCaptain.com - All Rights Reserved.

Please complete the following fields to be contacted by one of our representatives.

captcha

To find out if you are eligible, complete the following fields to be contacted by a certified VA loan consultant.

captcha