VA Home Loan Milestones

You have to wonder how many times in life we pass up tremendous opportunities to progress for timidity. Timidity is akin to fear—we tend to fear the unknown. How many times are we robbed of significant advancement because we lack understanding or because we hesitate for the unknown?


Using your Veterans or military service entitlement, you have the chance to get into your own home. To most people, the task of getting into a home seems complex, stressful, and distant. It will surprise you to know that the process of qualifying for a VA home loan is simple and direct.


The truth is, getting into your home is a huge event.  Your journey should be one of hope and happiness. The experts at LowVARates not only know how to keep focus on the joy of the journey, they have the experience to guide you through the process to its completion.


Keeping it simple, then, here are the steps to the VA Loan Process:

  1. Prequalify with LowVARates.

The security of any adventure is in knowing you have a trusted partner. Finding experienced VA loan specialists is half the battle. The collective experience of the loan specialists at LowVARates is a decided advantage on your journey to home ownership. Don’t allow your inexperience or doubt be a factor here. We specialize in helping you find a way.

Start by giving us a call. Our loan specialists know exactly the information needed to qualify for a home.  If the time is not presently right, we can tell you the steps to take so that you will qualify.

  1. Getting Pre-approved.

LowVARates will take your personal information, and with professional precision determine if you can qualify for a veterans mortgage loan.  We have a long history of helping homeowners qualify for their home loan. You can be confident that LowVARates will have your loan package filled out and representing you to your greatest advantage.

The VA has specific requirements for you to meet. So expect to do your work.  We can help tee it up for you, but the swing is still yours to take.

Here are some of the documents you will need to provide:

  • Current pay stubs.
  • Tax returns and W2s
  • Employment history
  • Bank/Investment statements
  • Evidence of real estate assets

(*Here is a slightly different list of documents for streamline refinance loans.)

  1. Find Your Home.

You might have your home already picked out. Or, you might not know where to even start. LowVARates can help here as well, helping you find a reputable realtor who will listen to you and help you locate the property and neighborhood you want to live in.

  1. Make an Offer.

When you find that perfect home, you will make an offer on the home and negotiate a contract with the seller. Because we understand the VA home loan market and process, we can help you arrange the contract so you do not need any money down, if that is how you want to proceed.

Because VA loans do not require mortgage insurance, you can qualify for more home on your budget. We will help you structure the details to your greatest possible advantage.

  1. Processing and Closing.

The VA requires homes to be ready for move in.  The burden to have the home move-in ready lies with the seller. The person that determines move-in ready is the appraiser.  The appraiser’s job is to make sure the home is to verify the value of the home and to make sure it is in good repair. The appraisal protects you and protects your lender.

Once you are under contract to purchase your home, the loan documentation goes to an underwriter for review.  The underwriter verifies financial information and all other required documentation; he also ensures the loan meets VA requirements.

When your loan is approved, a closing date is scheduled, where you will review all information and sign the required documents. This will finalize your VA home loan and you can then take ownership. What a banner day!

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*Annual savings calculator based on 2015 monthly average savings extrapolated year-to-date.