Applying for a VA home loan Washington State
Here are the steps on how to apply for a VA loan:
- Contact a VA-approved lender (Good news you have found a great local VA lender)
- Get a Certificate of Eligibility (COE).
- Apply for the loan.
- Close on the loan.
Here are the details of each step:
Verify your mortgage eligibility (Sep 28th, 2023)- Contact a VA-approved lender.
A VA-approved lender is a financial institution that has been approved by the VA to make VA loans. You can find a list of VA-approved lenders on the VA website.
- Get a Certificate of Eligibility (COE).
A Certificate of Eligibility (COE) is a document that shows that you are eligible for a VA loan. You can get a COE by contacting the VA or by using the VA’s online COE application.
- Apply for the loan.
Once you have a COE, you can apply for a VA loan with the VA-approved lender. The lender will review your application and decide if you qualify for the loan.
Verify your mortgage eligibility (Sep 28th, 2023)- Close on the loan.
Once your application is approved, you will need to close on the loan. This means that you will need to sign the loan documents and pay the closing costs.
Here are some additional tips on how to apply for a VA loan:
- Get pre-approved for a loan before you start looking for a home. This will give you an idea of how much you can afford to borrow.
- Make sure you have a good credit score. The higher your credit score, the better your chances of getting approved for a loan.
- Have a down payment ready. Even though VA loans do not require a down payment, it is always a good idea to have one saved up.
- Be prepared to provide documentation. The lender will need to see a variety of documents, including your income tax returns, W-2 forms, and bank statements.
- Be patient. The VA loan process can take some time, so be patient and don’t get discouraged if you don’t get approved right away.
