final-house11

What documents do I need for a VA Loan?

The VA Home Loan is widely considered to be the best mortgage available in today’s market for active duty military and veterans. Eligible veterans are able to take advantage of the opportunity to buy with zero down and no monthly mortgage insurance.

Common Documents Needed for a VA Loan

Personal Information:

  • Name, address, phone number
  • Previous addresses from last 2 years
  • DOB and completed years of school
  • SSN
  • Copy of valid ID
  • Number of dependents and their ages
  • State where you are planning on purchasing

Military Information:

  • DD214 if separated; for active duty a statement of service signed by the Commanding Officer
  • Certificate of Eligibility (COE).  This proves that you are entitled to VA benefit.  A lender can obtain this for you.

Employment/Income:

  • Name, address, phone number, dates of employment for all employers over last 2 years
  • 30 days worth of paystubs or most recent LES
  • W2’s from last 2 years
  • Divorce decree and settlement paperwork (if applicable)
  • copies of pension, retirement or social security and corresponding 1099s if this is the income you receive

Assets:

  • 60 days’ bank statements for checking and savings accounts showing enough money for your down payment (if any) and closing costs (if not covered by the seller)
  • 60 days’ statements for retirement accounts
  • Real estate currently owned, if any

Property:

  • Purchase contract accepted and signed by you and the seller
  • Appraisal showing a value of at least the purchase price (your loan officer will order)
  • Name and phone number for the homeowner’s association, if applicable
  • Name and contact information for the homeowner’s insurance agent you will use

Credit/Liabilities:

  • General knowledge of your current credit card, student loan, auto loan, and other credit accounts.
  • Amount paid for monthly child care (if applicable)
  • Bankruptcy and discharge paperwork (if applicable)
  • Documentation disproving any erroneous items on your credit report

Other VA Loan Questions:

The Chapman Lending Team at HomeBridge Financial is honored to help many veterans utilize their VA home loan benefit each and every year.  We ARE NOT a call center.  Our goal is to provide the best customer service in the industry along with the most competitive rates and fees.

Semper Fi, Dan Chapman CAPT, USMC (vet)

ChapmanTeam@HomeBridge.com          Call (760) 456-7139

Get a Free Rate Quote  –  Start an Online Application

DanChapman_web             Top1Percent

About the author:  Dan Chapman is the branch manager at HomeBridge Financial Services in North County San Diego, CA.  HomeBridge performs VA loans in 46 states.  Dan is a Naval Academy graduate, served as a Captain (O-3) in the Marine Corps, and is an Operation Iraqi Freedom veteran.  He has been focused on helping active duty military and veterans attain the dream of home ownership since 2007.  He is actively involved in several local veteran causes and performs VA loan seminars throughout greater San Diego on a monthly basis.  For a free consultation, please contact us anytime.

 

Related Articles

Who Qualifies for a VA Loan? In a sentence, VA loans are specialty mortgages offered exclusively to military service members and their families, and partially backed by the Department of Veterans Affairs. The details of who qualifies for a VA Loan, however, require a slightly longer explanation. If you plan…
Read More of the post About VA Loan Qualifications

Do I Qualify for a VA Loan? VA loans are specialty mortgages offered to military service members and their families and are partially backed by the Department of Veterans Affairs. To learn more details on who qualifies for a VA loan, keep reading. The VA Loan was created to ensure…
Read More of the post Who Qualifies for a VA Loan?

The Department of Veterans Affairs can now back loans that exceed the conforming loan limit.  A bill eliminating this cap was signed into law by President Donald Trump on June 25th, 2019. [caption id="attachment_124871" align="alignright" width="300"] VA Loan Caps Could be Gone in 2020[/caption] The Blue Water Navy Vietnam Veterans Act allows…
Read More of the post Bill Eliminating VA Loan cap signed into law

  [caption id="attachment_126739" align="alignright" width="300"] Chapman Lending Team[/caption] Most veterans know they can purchase a home with ZERO down payment with a VA loan.  However, when refinancing with a VA loan, can one pull out 100% of the home's value? The short answer is yes, however, it does depend on…
Read More of the post VA Home Loan 100% Cash-Out Refinance: How it Works, Get Rates and Apply