Step 1: Prequalify

Pre-qualification is the first step in the home buying process as it lets you know how much you may be able to afford.

Prequalifying is vital because it gives you an estimate of how much you may be able to afford while arranging a basis for the financing process. Our VA Loan specialists will be able to tell you immediately whether the VA Loan is a right choice for you or not. We will then be able to show you the right loan option for you.

Step 2: Getting Pre-Approved

Next, we will give you pre-approval paperwork and information you will need to complete the process. After the paperwork is filled out and returned with your documents, our VA Loan experts may be able to issue a pre-approval letter, verifying to your real estate agent you are able to purchase a home.

It is important that you submit the following documents along with your paperwork:

• Tax returns
• W-2 form
• Employment history
• Pay stubs
• Proof of any real estate assets owned
• Bank or investment statements.

Step 3: Making an Offer

During this step, your documents will be sent to a sponsor who will review your financial information for the last time. They may ask for additional documentation at this point to make sure everything is complete. After you are approved, a closing date will be set. On this date you will finalize your home purchase and VA Loan by signing the last of your paperwork and you’ll become a homeowner!

The Loan Steps

At Veterans Direct we want to make things as simple and transparent throughout the process. Here is our list of steps to expect during the loan process with Veterans Direct.

STEP 1:

INITIAL LOAN DISCLOSURES

A formal explanation and estimate of your preapproval. This process will be completed by e-signing the initial forms sent to you.

STEP 2:

LOAN ESTIMATE

You will receive a LOAN ESTIMATE from us or our investor. This is a summary of the loan terms for your review.

STEP 3:

CLOSING DISCLOSURE

Once the loan is near completion, an INITIAL CLOSING DISCLOSURE will be sent to you. This is a summary of the loan before final loan documents are drawn. This disclosure must be signed and acknowledged by you. Once acknowledged, we can begin preparing your final loan documents. Final loan documents may be signed via mobile notary for your convenience.

STEP 4:

SIGNING

The last step is the actual SIGNING. Within 3 days after we receive the Closing Disclosure, a notary will reach out to you to schedule the final signing. This will be done in person.

Speak with one of our mortgage specialists today. (888) 838-5088