1ST FLORIDA LENDING - WE ARE DIRECT LENDERS
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NO OTHER LENDER OFFERS THAT!
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WE BANKS SAY NO! WE SAY YES!
We Specialize in Lender Turn Downs!
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0% DOWN PAYMENT * NO BROKER FEES * NO LENDER FEES
THE VA LOAN PROCESS
LOAN PROCESS > SIMPLIFIED
1. Getting Started
Getting started with your VA Loan is as simple as filling out our quick contact questionnaire form. Once submitted, one of our VA Loan specialists will reach out to you to discuss your loan objectives and prequalify you for a home loan. Prequalifying is important because it gives you an estimate of how much home you can afford while laying a foundation for the financing process moving forward. Our VA Loan specialists will request minimal documentation for you to obtain a loan pre-approval letter
2. Example of Documents to obtain a Loan Pre Approval
Tax Returns and W2s
Evidence of Real Estate Assets
VA Certificate of Eligibility *
* The Certificate of Eligibility details a prospective borrower's entitlement and ability to participate in the VA Loan program.
3. The power of a Loan Pre Approval Letter
Most real estate agents require a loan pre-approval letter before entering into negotiations with the seller. Sellers and real estate agents use a pre-approval letter to sift through competing offers. Although not required, a pre-approval letter gives the seller confidence that you can obtain the necessary financing to close on their home.
For buyers, a pre-approval letter gives you the power to negotiate a contract with the seller once you find that perfect home. It's important to note, that most real estate agents know the ins and outs of a VA Loan so they can structure the contract to assure that you retain the ability to put no money down.
4. Processing & Closing Timeline
Once we initiate the final loan approval process. Your loan officer will request the balance of documents to submit you loan file to underwriting, who will verify the financial information, documentation and may request additional items as needed.
It is the underwriter's job to ensure that everything is accurate and meets all of the VA guidelines for approval. The next step is ordering an appraisal for the property. The VA requires homes to be move-in ready an any problems with the property generally have to be corrected by the seller before a loan closes.
When your loan is approved, a closing date will be scheduled. At closing, you'll sign paperwork, finalize your VA Loan and take ownership of your new home.