STEP-BY-STEP GUIDE TO THE VA HOME LOAN PROCESS NMLS ID 2856
Obtain a Certificate of Eligibility (COE) A Certificate of Eligibility is required as evidence that you have served in the military, since this loan program is specifically designed for veterans.
NMLS ID 2856
Pre-Qualify for Your Loan Amount Under the pre-qualification step, you can access your eligibility by evaluating your financial standing against the loan requirements. This gives a clearer indication to the lender about your credit score and gives you a better chance compared to other buyers who have skipped this step.
NMLS ID 2856
Shop Around for a Home and Sign a Purchase Agreement Once you’re prequalified, you can begin your house hunting process. Hiring an experienced real estate agent will make your life easier. Once you have found your home, you can proceed further with assessing the home loan program. NMLS ID 2856
The Lender Processes Your Application and Orders a VA Appraisal Once the house hunting is done, you can apply for a loan with a signed purchase agreement. The VA-approved lender will then order a VA appraisal. They will conduct the appraisal in order to ensure that the purchase price justifies the current market value of the property. NMLS ID 2856
www.drewmortgage.com | Mortgage Lender in Boston, Worcester & Peabody NMLS ID 2856