KC DeCesare - NMLS #1031758 - (702) 888-2251 - eMail me

VA Loans For Purchasing a Home

Myths and Misconceptions About VA Home Loans

A common misconception with the VA loan program is that there is a tremendous amount of “red tape” involved with the process. However, this isn’t the case. The first step is to establish your eligibility. Many lenders can acquire your Certificate of Eligibility (COE) online. In addition, in most cases borrowers who are eligible for a VA home loan can be processed without a manual underwriting procedure or VA review. Additionally, if your lender is approved under VA’s Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan on the basis of that review. The LAPP can get borrowers through the process and to a completed loan closing faster. The bottom line is average closing times for VA loans rarely differ greatly from those for conventional loans. Let’s take a closer look at the basic steps involved when using a VA loan to purchase a home.

Prequalifying for a VA Loan

To start the VA loan process, contact us by phone/email/text. One of our VA loan specialists will ask basic questions about your financial history and homebuying goals to determine if a VA loan is best for your situation. Prequalification helps you and lenders establish an immediate sense of eligibility and start building a foundation for the next stage, which is loan preapproval.

VA Loan Preapproval

The main difference between prequalification and preapproval is typically the verification of information. Preapproval shows lenders that a borrower is a capable homebuyer. The process requires effort from the borrower as paperwork collection and submission becomes important. As experience VA lenders we can help you complete the paperwork, as well as prepare and organize anything you need to complete the application. You may be able to do some or all of this process online.

When we receive your required documents, you’ll receive a preapproval letter that outlines anything you must do to officially finish the VA home loan paperwork. The conditions in the preapproval letter must be met in order for you to get to closing day and into your home.

Real Estate Agents and Your Home Search

Once you have a preapproval letter, it’s time to find a real estate agent and look at homes. Some military buyers may want to seek out veteran-friendly real estate agents that better relate to military families’ particulars and understand the VA loan program thoroughly. We can help you find a qualified real estate agent.

Make an Offer

It’s a thrill for military borrowers to find and select their home, but there’s still some work to do. Once you find a home you’ll need to make an offer and agree on the price and terms with the seller. Your real estate agent will help you with the negotiation and contract process. It’s imperative that you work with a real estate agent and loan officer who are knowledgeable about VA loans so the contract is properly drawn up to help you take advantage of all your veteran entitlements.

VA Loan Closing and Processing

Before the loan closes, as your VA lender, we’ll order an independent appraisal of the property. Along with assessing the property’s value, the VA appraisal helps assess whether the property meets the VA’s property condition standards. If there are problems (e.g. water damage, termites, leaky roof), they may need to be addressed before the loan process can move forward. Every situation is different.

An underwriter then closely reviews the entire VA loan package. The underwriter’s job is to confirm all the information and make sure all documentation is in place. If anything is missing or does not conform with VA or lender guidelines, the underwriter requests what’s needed to make it right. When the underwriter approves a VA loan, there’s only a few things for the borrower to do: Prepare for your closing day, when you’ll sign a lot of final paperwork and get the keys to a new home.


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Call a VA Home Loan Specialist at
(702) 888-2251





Start the VA Loan Process

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Call a VA Home Loan Specialist at
(702) 888-2251