Five Steps to Getting a VA Loan

Buying a home in the JBLM area? The buying process can definitely seem like an overwhelming process, but it doesn’t have to be! Make sure you take this time to review the steps in securing a VA loan. Here are five simple steps that will make your life easier…

Get yourself a VA Loan Specialist

I can’t tell you how important it is to pick the right lender. I highly recommend working with a lender who specializes in VA Home Loans. There are experts out there who completely understand the VA loan program and the special needs of the buyers using the program. If you are in need of an expert, please give Mike Villano at Veterans United Home Loan Lakewood a call at 253-582-2873 ext. 7085.

Time to look at homes

Another very important factor is finding a Realtor who really knows how the VA Loan program works. At Phil Sharp Homes, we know the ins and outs of the VA loan process and can help you find the perfect home that will qualify for the loan. Phil is a retired 1 SGT and specializes in military relocation. He can be reached at 360-970-9977.

The Purchase Agreement

Even if you are using a VA Loan, you can still negotiate with the sellers on anything from closing costs to price and more. Once you and the sellers come to term you will sign a purchase agreement that is contingent upon the appraisal and the lender’s final approval.

Underwriting

After your contract to purchase the home is accepted by all parties, the loan paperwork and contract will move into the underwriting phase. What does an underwriter do? They will verify all of the financial information and other documents to meet the VA guidelines. They can request additional items as needed.

Congratulations – You’re a Homeowner

The last step is the closing. Here you will sign paperwork and finalize the VA loan. Make sure you come prepared! You will be signing a stack of papers that may seem never ending but when you leave you will have taken ownership of your new home!

Did you know that 90% of all VA loans come with NO DOWNPAYMENT and most VA borrowers have little to no out of pockets expenses at the closing!


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