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Getting Ready To Apply - VA Application Checklist

Applying for VA loans is not as difficult as some people make it out to be. In fact, at MyVaRefinance.net, we have streamlined the process to make it even easier for our clients. There are things that you can put together in advance of the application process that can make it move more smoothly. The following VA application checklist will assist.

To make sure you’re ready to answer questions related to the VA home loans application process, collect these items in advance of an application:

Social Security numbers – To take advantage of the best VA loan rates, you’ll need these for every applicant on the loan.

Residential history – The application calls for residential history for all parties on the loan for the last two years.

Employment history – To take advantage of VA mortgage rates, employer information for the past two years is required for all applicants.

Earnings – Current monthly gross salary for all applicants is required during this process. This is the amount of money earned prior to deductions such as taxes and Social Security.

Banking information – During the application process for VA loans, you will also need the names, addresses, account balances and the current balances on all bank accounts. This includes both savings and checking accounts.

Real estate information – The process also asks for basic information on all other real estate owned. The details asked for include addresses and loan information.

Estimated wealth – You will need to estimate the value of your personal property and furniture for the application.

Eligibility certification – Make sure to have a certificate of eligibility and a DD214 for the actual veteran applicant on the loan.

Earnings history – W2 forms for the past two years are required for all applicants on the loan. Current pay check stubs are also required. Self-employed applicants can provide two year’s tax returns and a current income statement and business balance sheet in lieu of paycheck stubs.

Credit report – Applicants wishing to take advantage of VA home loans do need to pay for credit reports to help the bank make determinations. Credit requirements for VA loans are not necessarily as stringent as other financing programs.

Appraisal – Applicants are also responsible for the cost of an appraisal on the property they wish to finance.

When a VA refinance is desired on an existing loan, the process to apply may require less documentation. A streamlined refinance, for example, does not require employment verification, an appraisal and many other steps required in the origination of new VA loans.

If you’re interested in looking into VA mortgage rates and the benefits of these loans, just take a look at our website for information. At MyVaRefinance.net, it is our pleasure to serve veterans with the best in service and loans.

To take advantage of our easy application process for VA home loans, just fill out our 30-second request form. We’ll get back to you right away so you can begin the process to obtain financing. In the meantime, get together the information you’ll need by following our easy VA applicant checklist.

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