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1.
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Meet with your lender and get pre-approved for a loan. This will help you understand how much you qualify for before you even begin looking for a home. If you have a challenging situation, it also allows your lender to work with you to resolve any potential issues early on.
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2.
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Obtain your Certificate of Eligibility from the VA. Your lender may be able to do this on your behalf.
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3.
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Select the real estate agent you would like to work with and begin looking for a home. When you find the right home, make an offer on the home. It is a good idea to have an attorney review your offer and your Purchase and Sale Agreement to ensure that your interest in the transaction is protected.
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4.
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When your offer is accepted, your lender will update your application and order a Certificate of Reasonable Value for the property. The lender will then submit your loan for final approval.
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You receive your loan decision. If you meet the criteria for the loan, you’ll get an approval!
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6.
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All parties to the transaction attend the closing. The closing attorney will go over all of the documents associated with your loan and you will sign them. You then own the home! Your loan is shipped to the VA for guaranty. Your Certificate of Eligibility will be annotated to show that you have used your eligibility and it will be returned to you.
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