VA Home Loan Program is for veterans and active duty military personnel and determined members of the reserves and National Guard. VA Home Loans provide an commendable program and benefit for those individuals who have served or are serving to protect our families and our nation, as well as giving them a form of financing that will allow Realtors to sell more homes.

Getting Ready VA Loan

Paper Work required to obtain VA Home Loan.

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Most of us want a good credit report to obtain automobile financing, credit cards, and to purchase a home. But, beyond these consumer loans, .....

One of the most important matters to understand is that the VA Loan Approval process is 100% dependant on documentation. Make sure yor transaction is trouble free, by having all your required papers prior to you initial loan application.

    VA Eligibility Information

  • DD214

    • Employment Information

  • Most recent two years complete tax returns with all schedules
  • Most recent two years W-2's, 1099's
  • Most recent pay stubs covering one month period.
  • Self-Employed will need Three years Tax Returns and YTD Profit & Loss Statement

    • Savings Information

  • Most recent three months complete bank statements for any and all accounts with all pages
  • Most recent statement from retirement, 401k, mutual funds, money market, stocks
    • Good Credit Is A Necessity For Everyday Living
    Most of us want a good credit report to obtain vehicle financing, credit cards for emergencies and luxuries, and to finance a .....

    Credit Information

  • Most recent statements from your bills, indicating minimum payments and account numbers
  • Name, Address, and Phone number of your landlord, or 12 months cancelled rent checks
  • Should you have no credit. Copies or your most recent utility bills will be needed.
  • Copy of complete Bankruptcy and Discharge Papers.
  • If you co-signed for a mortgage, car, credit card, etc, need 12 months cancelled checks. front and rear, indicating you are not making payments.
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    Personal Information

  • Copy of Drivers License
  • Copy of Social Security Card
  • Copy of complete Divorce, Palimony, Alimony Papers
  • Copy of Green Card or Work Permit

    • If a Refinance or you own Rental Property

  • Copy of Note & Deed from current loan
  • Copy of Property Tax Bill
  • Copy of Hazard (homeowners) Insurance Policy
  • Copy of Payment Coupon for current Mortgage
  • If property is multi-unit, need Rental Agreements

The VA allows a veteran who qualifies income and is credit worthy to buy a home as the primary residence with Zero Down.VA Streamline
VA Streamline
Interest Rate Reduction Refinance Loans
A VA Interest Reduction Refinance Loan (also know as a VA IRRRL) is a streamline refinance which that requires little documentation, no appraisal, and a reduction in the interest rate on the VA home loan. VA interest rate reduction refinances do not require credit underwriting and the mortgage loan must be current.[

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Benefits of using VA Home Loan:

  • Assumable, the new owner most qualified.
  • Low closing costs to Veteran's and are regulated by VA
  • Veterans with problems making the home loan mortgage payments can obtain assistance from VA
  • No Prepayment penalty
    • .

    Facts concerning purchase transactions:

  • VA does not have a maximum loan amount. However, lenders do sell loans on the secondary mortgage market, so they will generally limit loans to $417,000 ($625,500 in Hawaii, Guam, Alaska and U.S. Virgin Islands) with no down payment. With a down payment, loans may exceed these amounts.

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    VA Loan Glossary of Mortgage Terms

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