Step 1: Pre-Qualification
To get started buying a home with a VA Mortgage, the first thing to do is get pre-qualified to use your Veterans Affairs loan benefit. After you do this you will know what loan amount you are qualified for, and the price range of a home you should look for. We’ll provide you a VA Mortgage pre-qualification letter that you and/or your real estate agent can provide the seller of a home you would like to buy.
Step 2: Find a Home & Sign a Contract
The next step is to find a home that you would like to buy. Make sure to let the Realtors and home sellers know you have been pre-qualified because VA Home Loans allow for the seller to pay your closing costs. VA has no limit on the seller paying your normal closing costs, and the seller can also contribute up to 4% of the purchase price in concessions (such as the funding fee or paying off your debts). This should be included in the purchase contract for the home.
Step 3: Apply for a VA Loan
When you have a home under contract to purchase, we’ll provide you the VA loan application. You can get started on this immediately with our secure online application or call us and we can take the application over the phone. We’ll need a copy of the contract, and there will be several disclosures for you to sign. At this time we will also provide you a list of documents (bank statements, pay stubs, etc.) that will be needed for final loan approval.
Step 4: Closing
Upon receipt of your application and documents, your loan will be processed and underwritten. This includes ordering an appraisal, title and insurance documents. When the loan receives final approval, you will attend a closing at a title company or with a notary where the loan documents are signed along with the formal transfer of ownership of the home. After the loan is funded the fun part starts – you get to move into your new home!
To get started on your VA Home Loan, call us at 888-241-5657 or fill out the short form on this page. A specialist from our team will contact and assist you with your VA Mortgage pre-qualification.