VA LOAN CHECKLIST

 

The dream of home ownership became a reality for veterans in 1944 when the official VA Home Loan Program, originally known as the Servicemen's Readjustment Act (or GI Bill of Rights), was signed into law by President Franklin D. Roosevelt.

 

The GI Bill made it possible for United States veterans to purchase federally insured or guaranteed homes with no down payment. Thus, the VA Home Loan Program gave home ownership assistance to millions of veterans and their families.

 

Since then, the VA home loan has been extremely popular and has been leveraged to benefit more than 25.5 million veterans and military service personnel eligible for VA financing.

 

If you're ready to apply for your VA Loan benefits, make sure you've prepared well enough to be approved quickly. With your VA Home Loan, it literally pays to be prepared.

 

When you're approved without complication for your VA new home loan, you'll experience no delays, no missed deadlines which can incur late fees, and no missing out on your best mortgage rate or on getting the house you want, now.

 

A simple checklist of items to bring when you fill out your mortgage application, will help you to complete your VA home loan application the first time around:

 

1. Social Security numbers

2. Residence addresses for the past two years

3. Names and addresses of your employers over past two years

4. Current gross monthly military salary

5. Names, addresses, account numbers and balances on all checking and savings accounts

6. Names, addresses, account numbers, balances and monthly payments on all open loans

7. Addresses and loan information of other real estate owned

8. Estimated value of furniture and personal property

9. Certificate of Eligibility and DD-214 (for veterans only)

10. W2s for the past two years and current check stubs

 

For self-employed veterans, you will need to provide bank statements + personal tax returns.  If you own a business, your business bank statements, current income statement and balance sheet.