When you choose our professional mortgage brokers for assistance, you can look forward to a smooth, quick, and hassle-free VA loan process. Our team will explain the entire process and guide you in taking the necessary steps to obtain a VA home loan.
Here are the basic steps you should follow:
1. Obtain your Certificate of Eligibility (COE)
It is required as proof by the lenders to ensure you qualify for the VA loan. It’s a straightforward process where you can apply online to get your COE at any time day or night and submit it to the authorized regional loan center.
For this, you need to provide a current statement of service, DD214, or other military service records confirming your past service from the center or regional office.
2. Arrange Finances
Although VA loans don’t require a downpayment, you may still need to pay VA funding fees, closing costs, and any other additional expenses. Thus, it is best to arrange the funds accordingly.
It is recommended to review your income, expenses, and overall financial condition to ensure you are prepared to purchase a house.
3. Apply with a Trusted Lender
After you have finalized the home you want to purchase, the next step requires the submission of your loan application to a trusted lender. For that, you can reach out to PierPoint Mortgage, a reputed lender with a licensed team of mortgage experts specializing in providing VA-backed home loan programs.
Once you submit your application, our team will assess your application to determine loan eligibility and provide an estimate.
4. Home Appraisal
Before the loan amount is finalized, a home appraisal is required to determine the property’s value to check whether it aligns with your funding goals. If they align, you can receive prompt loan approval.
Once the loan is approved, the pre-closing paperwork will need to be completed. The lenders will prepare the paperwork, which will include the loan agreement. It will contain all the crucial details such as closing costs, loan terms, duration, your estimated monthly mortgage payments, etc.
Once the loan documents have been signed and submitted along with the closing costs, you will be ready to shift into your new home as a proud homeowner.
Find out if you meet the required eligibility criteria to get a VA loan by applying online today!