As a veteran, you have made a lot of sacrifices. Thankfully, the government is open to rewarding those sacrifices in a variety of ways when you get home. One of those ways may be making it a bit easier to get approved for a new home by working with a VA mortgage lender. VA mortgage lenders typically have certain requirements that need to be fulfilled in order to secure a loan. Here are some tips to keep in mind before you move forward and apply for a mortgage.
Get Your Certificate Sooner Rather Than Later
The Department of Veterans Affairs has certain requirements that need to be met for you to qualify for a VA loan or mortgage. A service member or former service member who meets these requirements will be given a VA Certificate of Eligibility to verify their status. When you apply for a mortgage with a VA mortgage lender, they are going to ask for this document and perhaps additional paperwork at some point. In order to streamline the process, you should obtain your Certificate of Eligibility before you apply for the loan. Keep any other proof you have of your service on hand as well.
Mortgage Lenders Want to See Your Complete Work History
A VA mortgage lender knows that you have military service in your background. But these lenders may also want to see what you have done since returning from the service. A full and complete work history will improve your chances of getting approved. Even if you are just working part-time right now while looking for full-time work, you should still document as much as you can. It's understandable if you have a gap or two on your resume because of your time in the service, but do what you can to present a resume that reduces these gaps and makes it clear that you were at least doing something instead of nothing.
Find a Real Estate Agent With VA Experience
While you can find a lot of information about the VA mortgage process online, it can help to have someone at your side with real experience working with a VA mortgage lender. A seasoned real estate agent who has worked with other veterans may be able to help you get pre-approved by looking over your details before you move forward. That said, many VA mortgage lenders will be happy to answer any questions you have themselves ahead of your submission.
Contact a VA mortgage lender today for more information.Share
3 June 2019
When I began my first business selling sports equipment locally, I knew the sports-world well, and I knew how to run a business. One thing I did not know a lot about was the financial world. I had never applied for a loan in my life other than when I financed my car with the dealership in-house financing. My first application at a large bank was denied. I began looking into my other options, and I found that there were more lenders for new businesses than I realized. I applied at local credit unions, local banks, and other business lending services. I was able to secure more funding than I even expected, and my credit is just average. I created this blog to help other new business owners realize that there is funding out there. You just have to find it and apply! Don't give up on your dream.