Purchasing or refinancing a home can be overwhelming for some. The key is to be prepared for the process. For Veterans eligible for a VA Home Loan, there are a few extra steps, but they are easy to accomplish when prepared.
First Step – Gather Your Information
• Last two most recent bank statements for all accounts (all pages) • Most Recent Two Years of W2s and/or 1099s • Most Recent Two Years of tax returns (all pages) • Clear copies of driver’s license/identification and social security card • Proof of Military Service (copy of active service statement or DD-214) Click Here to download request form. • Copy of most recent pay stub(s) covering the last 30 days of pay • Copy of VA disability letter, if applicable.
Next Step – Obtain Credit Reports and Score
In order to qualify for a home loan, it is important to know your current credit score. Many applicants don’t know is the minimum credit score requirement for a Home Loan is 620. Credit scores fluctuate monthly and it is important to track changes. The difference in a fair and good credit score could be thousands of dollars over the life of a home loan. Credit Scores affect the rates you receive on credit cards, home loans, car loans, and many other loan products. Know your score and watch it closely!
We highly recommend you sign up for your mortgage credit scores to determine if you are eligible for your home loan. We advise getting your mortgage credit scores so you can immediately address any negative credit items, verify all information contained is accurate and protect yourself against identity theft.
Click Here or the image below to get all three credit scores.
Last Step – Have an Experienced Lender Get Your Pre-Qualification Letter to Start Shopping for Your Home
Contact Us and we’ll be there to walk you through every step of the way to get your VA Home Loan