Walt Dobbs - NMLS #269374 - (916) 989-6222 - eMail me

VA Loans-VA Home Loans Escape Clause-Lotus CA

VA Loans For Purchasing a Home

Myths as well as Misconceptions About VA Home Loans

A common false impression with the VA loan program is that there is a tremendous amount of “bureaucracy” included with the process. However, this isn’t really the case.|This isn’t the case.} The initial step is to establish your eligibility. Sierra View Financial can generally secure your Certificate of Eligibility (COE) online.

Prequalifying for a VA Loan

To start the VA loan procedure, contact us by phone/email/text. If a VA loan is best for your scenario, one of our VA loan specialists will ask standard questions about your economic history as well as homebuying objectives to establish. Prequalification assists you as well as lenders establish a prompt sense of eligibility and start constructing a structure for the next phase, which is financing preapproval.

VA Loan Preapproval

The main difference between prequalification and also preapproval is generally the verification of details. Preapproval shows lenders that a borrower is a capable homebuyer. The procedure requires initiative from the borrower as paperwork collection and also entry ends up being crucial. As experienced VA lenders we can aid you finish the paperwork, in addition to prepare as well as organize anything you should finish the application. You could be able to do some or every one of this process online.
You’ll obtain a preapproval letter that lays out anything you need to do to officially complete the VA home loan documents when we get your called for records. The conditions in the preapproval letter need to be met in order for you to get to closing day and right into your home.

Real Estate Agents and Your Home Search

As soon as you have a preapproval letter, it’s time to locate a real estate agent and consider homes. Some military purchasers may wish to choose veteran-friendly real estate representatives that far better associate with military families’ details as well as recognize the VA loan program thoroughly. We could help you locate a qualified real estate agent.

Make an Offer

It’s an adventure for military debtors to locate and also pick their residence, however there’s still some work to do. As soon as you locate a house you’ll should make an offer as well as concur on the rate and terms with the seller. Your real estate agent will certainly aid you with the settlement and contract process. It’s critical that you deal with a real estate agent and loan officer that are educated regarding VA loans so the contract is correctly drawn up to assist you take advantage of all your veteran entitlements.

VA Loan Closing and Processing

{Before the financing closes, as your VA lender, we’ll order an independent appraisal of the property. Together with assessing the home’s value, the VA appraisal helps assess whether the property fulfills the VA’s home condition requirements. If there are problems (e.g. water damages, termites, leaky roofing), they could need to be attended to prior to the loan process could move on. Every situation is various.

An underwriter after that carefully assesses the whole VA loan package. The underwriter’s work is to validate all the information as well as make sure all paperwork remains in place. Is missing or does not adhere with VA or lender guidelines, the underwriter requests just what’s required to make it. When the underwriter approves a VA loan, there’s just a few things for the borrower to do: Prepare for your closing day, when you’ll sign a great deal of final documentation and also get the keys to a new home.

Call a VA Home Loan Specialist at
(916) 989-6222

Start the VA Loan Process

Loan Type Home PurchaseRefinance

Approximate Loan Amount

Credit Rating

Military Branch

Time frame

Call a VA Home Loan Specialist at
(916) 989-6222

VA Home Loans Escape Clause – Lotus

Share this article

Comments are closed.