Veterans looking for the special home loans combined with fast and simple processing will love our programs. We offer VA loans with simple qualification guidelines and quick underwriting.
To ensure the speediest timeframe to close your VA loan, we encourage you to review the following information related to our VA loan guidelines, the mortgage process, and what documentation is likely to be required. We have outlined steps to simplify the process and provide information on how you can prepare what is needed on your end.
VA Loan Guidelines
In order to qualify for a VA loan, you must satisfy the following requirements:
- You must either be an active duty member of the military or a retired veteran. You will need to obtain a Certificate of Eligibility (COE) from the Veterans Administration.
- 2 years of consistent employment. When you apply, if you are approved you will receive a loan approval that lists each required document you must provide. This usually is pay stubs, bank statements, and tax returns.
- The minimum credit score requirement is a middle FICO score of 620. However, some VA approved lenders may offer loan programs which are available to veterans with credit scores as low as in the 500s.
- Along with your credit score, your credit report will be evaluated. This includes looking at the number of open accounts (trade-lines), their payment history, and any derogatory marks such as judgements, collections, foreclosures, and bankruptcies.
VA Loan Process – How to Get a VA Loan Quickly
If you would like to expedite the process of obtaining a VA loan, please read carefully what the process consists of, and what documentation may be required to be provided by you. This is a step by step outline of getting a VA loan.
Step 1: Verify Eligibility / Certificate of Eligibility
If you would like our assistance in verifying your eligibility, we would be happy to help. You may check your eligibility through the Department of Veterans Affairs. You will need a COE – Certificate of Eligibility in order to be able to apply for a VA loan. We can help you determine if you are eligible, if you would like some assistance.
Step 2: Get a VA Loan Approval
Once your eligibility has been verified, the next step is to get approved for a VA loan. If your loan application is approved, you will receive an official loan approval that lists the requirements (conditions) that must be satisfied in order for your loan to close. This usually includes an appraisal, income documentation, and tax returns.
Step 3: Submit Required Loan Conditions
Send in all of the required documentation as quickly as you can. We will review and clear the requirements within hours (in most cases). The faster you can provide us with the required documents, the sooner your can close on your loan.
Step 4: Close Your Loan
As soon as your loan is “clear to close” we will work with the title company to schedule a time for your loan closing.