Ready to Buy?

Applying for a VA home loan involves five basic steps. Before you begin, it’s important to ensure that you’re eligible for the loan and that you’ve assembled a reliable team of professionals to guide you through the process.

Step 1: Choose a Lender

Selecting a VA loan-experienced lender is crucial. They will review your financial situation and credit history, as well as your Certificate of Eligibility (COE) and other required documents, to determine how much you qualify for.

Step 2: Choose a Realtor

Your VA-experienced realtor should be knowledgeable and experienced in working with veterans and processing VA loans. They will help guide you in finding homes that meet your needs and adhere to the VA’s minimum property requirements. They should also advise you on VA protections and clauses to ensure that you’re well-informed and protected throughout the real estate transaction.

Step 3: Choose a Property

Select a home and discuss the purchase with the seller or selling agent. Ensure that your realtor has market research available to support the seller’s asking price. Sign a purchase contract conditioned on approval of your VA home loan.

Step 4: Submit the Application to Your Lender

Your lender will process the required loan documentation and develop all credit and income information. They will also request that the VA assign a licensed VA appraiser to determine the reasonable value of the property. You’ll want to monitor this process and remain available for any updates. Once a Certificate of Reasonable Value is issued, you can move on to the next step.

Step 5: Underwriting and Closing

Your lender will let you know the decision on the loan. If the established value of the property and your credit and income are acceptable, you should have no problems being approved. Attend the loan closing, where the lender or closing attorney will explain the loan terms and requirements, as well as where and how to make the monthly payments. Sign the note, mortgage, and other related papers.

Don’t forget to check out our Veterans Buyer Guide for more information on the homebuying process and how VA loans can benefit you.