VA Home Loan Process
Are you curious about what to expect with the VA home loan process? Have no fear! NASB makes it quick and easy to begin your VA loan lending process.
Get a Certificate of Eligibility
The Certificate of Eligibility (COE) verifies to the lender that you meet the eligibility requirements for a VA loan. NASB will help you obtain your COE so please contact a loan consultant to assist you.
Apply for your VA Loan | Get Pre-Approved
Work with your NASB loan consultant to complete a loan application and gather the needed documents, such as pay stubs, bank statements and tax returns. Once everything has been reviewed then your loan consultant will complete your pre-approval. If you’re refinancing then your loan consultant will help you lock in your interest rate, get your appraisal ordered and detail the list of documents we’ll need from you to start the loan process. If you’re purchasing a home then your loan consultant will give you a pre-approval letter and help get you prepared for your home search!
Once you’ve gathered the documentation requested by your loan consultant, he or she will review everything for accuracy and submit your file to be reviewed by our processing department. Once the processor has prepared the file for underwriting it will be reviewed by an underwriter to confirm that all the credit history, income, assets and other details meet lending guidelines. Once your appraisal has been received that will also be reviewed to ensure your residence is suitable to lend on. Once it’s been confirmed that all of the lending requirements have been met then your loan will get approved!
NASB will coordinate a refinance with the title company, an attorney, or one of their own representatives to conduct the closing for you. In most scenarios the closing will be able to happen at a date, time and location of your choosing. Once your loan gets to this stage we will have the title company contact you to schedule the appointment.
On a purchase you or your realtor will have selected a title company early in the process; that title company or attorney will perform the closing and NASB will work closely with them to ensure an on-time closing.
If you have any questions during the process that the lender can't answer to your satisfaction, please contact the VA at your Regional Loan Center.