Why a VA Loan?
As you become more familiar with the VA Home Loan Program, you will find out they are actually easier to qualify for than other loan types. VA loans are made with no down payment, and the seller is permitted to pay closing costs. The rates on VA loans are better than other loan options, and VA loans have no costly monthly mortgage insurance.
Our site offers a quick comparison between VA loans and FHA or conventional financing by clicking the following two links... VA vs. FHA, and VA vs. Conv. We encourage you to learn about VA loans before getting prequalified with us.
prequalifying for a VA Home Loan is slightly different than other mortgage programs. The two major differences are the Certificate of Eligibility (COE), and the VA appraisal. The lender can assist you with obtaining your COE, and they will request the appraisal on your behalf through the VA’s appraisal ordering venue. Choosing a lender who is approved under the VA’s LAPP program, such as us, is very important. This helps speed the underwriting time because the lender doesn’t have to wait for the VA to examine the application and appraisal. Once you have made the decision to go with a VA loan, here are the steps to take.
Four Simple Steps to Obtaining A VA Loan
- Request your Certificate of Eligibility (COE).
You can order you COE by printing out VA Form 26-1880, and mailing the completed form to the VA’s eligibility center in Winston-Salem, NC., with copies of your discharge papers or a Statement of Service if you are still on active duty.
A better option is to request a copy of your COE from your VA lender on your behalf. We have direct access to the VA’s online Web LGY System (previously known as the “ACE” system), and the lender should be able to obtain your COE immediately, saving you time and simplifying this step.
You may start here to begin the process of obtaining your COE with Florida Vaterans Home Loans. One of our VA specialists will contact you right away to get started.
- Get Prequalified for your VA Loan.
To speak to a professional VA specialist about taking the next step for prequalification, please complete our quick-and-easy online request form and a member of our staff will contact you right away to discuss your options.
- Select the home you wish to purchase.
Your lender has determined the loan amount you have been prequalified for. You will need to find a home for that amount or less, and present a written offer to the seller. If your offer is accepted, a sales contract will be drawn up detailing the terms.
If you would like to minimize the amount of out of pocket expense, you may wish to ask the seller to pay some or all of your closing costs. Your lender can provide you with a closing cost worksheet that will be helpful in properly structuring your offer.
More useful information about this can be found on our site by clicking the link VA closing costs.
- Close the loan and move in to your new home!
Provide the lender with your sales contract, and have an inspection done on the property. Your realtor, if you have one, can assist you with ordering an inspection. The lender will then order your appraisal through the VA, underwrite your loan, and coordinate the closing with you.
Get Started Today With Your VA Loan Request!
To speak with Chris or one of his team of VA Home Loan specialists about taking the next step toward prequalification, call us at 866-704-2826 or complete our quick-and-easy request form. We'll be happy to contact you and discuss your next steps.
We look forward to assisting you.
By submitting your request, you are not obligating yourself. You are simply asking to be contacted by one of our talented specialists who can answer your questions. Florida Veterans Home Loans works exclusively with military families and we have helped people all across Florida understand the VA loan process.