Applying for a VA loan to purchase a home can be an intimidating process, especially for first-time homebuyers. Follow these steps to apply for a VA loan with ease and purchase the home you deserve.
Once you’ve determined that you’re eligible, the application process for a VA home loan should take around 40 days to complete.
What You Need for the VA Loan Application Process
Before you begin, it’s important to know what you’ll need to complete the application process for a VA loan. Lenders will require you to provide documentation used to verify your employment history, creditworthiness and your overall financial situation.
These documents may include:
- A government issued photo ID
- Recent pay stubs
- Two years’ worth of W-2 statements
- Bank, investing and retirement statements
- For self-employment, 1099 or rental income, the last two years of federal tax returns
- Copy of your DD-214
- For active military, a statement of service letter signed by your commanding officer
Your lender may require additional documentation depending on your unique financial situation.
Important Tip: It is vital to complete your VA loan application as accurately as possible. Not disclosing key facets about your finances or refraining from providing requested documentation will delay the VA loan process and may result in loan denial.