As I’m sure you can imagine, I get asked all the time about how one qualifies for a VA loan and how the process works from front to back.  Below, I have tried to answer those questions in a simple manner (without getting into all the industry jargon) and I hope this helps.

To get started, you will first need to begin by verifying your eligibility. Simply contact your regional Veterans Administration office to ensure that the required service terms have been met.

Establishing Your Eligibility

The first, and most important, step in securing VA loans is to fill out your eligibility form. This is called the Certificate of Eligibility, and is available at any regional Veterans Administration office. This form will be sent into the Veterans Administration along with your service papers, which should show the time you spent in service and your discharge status. If you are still in active duty, then this will be reflected on your paperwork.

Finding Your Home

Typically, the next step to establishing VA loans is the exciting part – finding the home that you are interested in buying. The average home price is around $144,000, but the loan must be for a reasonable amount considering the resell market. After choosing your home, you will need to sign the purchase agreements, and then move onto the next step. The Veterans Administration will perform an appraisal of the home before the loan is complete.

While the VA loans must first be established through the Veterans Administration, you must also apply through a mortgage lender. This step will actually provide the loan for your home, and you must pass though a standard credit check to ensure you can pay for the home once it has been purchased.

The VA loans are a guarantee that there will be no down payment, however, and that in the case of a foreclosure a certain amount will be paid on your behalf to the actual lender.

Jason Skinrood has helped hundreds of U.S. Veterans get approved for VA home loans and VA streamline refinances. Hopefully the article above provides you some insights that help you take advantage of the Veteran Benefits you are entitled to because of your service in the United States Military.