VA Home Purchase Process

Mortgage and Lending with USDA / FHA Mortgage Source

The VA mortgage program is a home financing option for past and active Military. Not only does the program offer up to 100% financing, it also has NO money mortgage insurance.  Once home buyers determine the VA loan is the right choice for them, they can begin the loan application process. This application process involves a few steps: selecting a approved VA lender (preferably one located in Florida)  pre-qualifying for the VA loan, selecting your home, writing a purchase contract, getting the property appraised by the VA, and finalizing the loan.


Before applying for a VA loan, it is important to remember the following:

  • The applicant must be an eligible veteran who has available VA entitlement.
  • The veteran must occupy or intend to occupy the property as a home within a reasonable period of time after closing the loan. The loan cannot be used for investment home purchases.
  • The active duty or Vet must have reliable credit – generally over 620 credit score.
  • The income of the household must be shown to be enough to meet the mortgage payments, cover the costs of owning a home. VA, like all home loans, has max allowed debt to income ratios. The mortgage lender will be able to discuss specific income and other qualifying requirements.


Locate a VA Approved Bank or Lender

Before you begin the application process, it is a good idea to get a copy of your credit report. This can be obtained from one of the three major credit bureaus - Experian, Equifax, and TransUnion. Once you have your credit report, the next step is to find a VA approved lender -  preferably someone local. If you are purchasing a home in Florida, it’s probably best to select a VA lender located in Florida.  Each state has some twists and turns, it’s always best to work local. VA Mortgage Hub services the entire state of FL.


Pre-Qualifying for VA Mortgage

Pre qualifying for a VA loan is the best way to determine how much borrowing power you have. Pre-qualifying involves completing a VA loan application. Based on that information, you can find out if you qualify for a given loan. Note that pre-qualifying only gives an estimate of the amount of mortgage payment you can afford, based on the information you provide. While pre-qualifying is not a requirement, it is highly recommended. Without pre-qualifying first, you may find yourself looking at houses that you wouldn't necessarily be able to afford. Once you pre-qualify, you'll have a strong idea of how much income you'll need to qualify. You'll also know what price range of houses you can manage, which is important for the next step.


Selecting The Perfect Home

By now you have been VA mortgage pre approved and have a good idea of your purchase price point. You can now begin the process of selecting your new home. Finding a home can be accomplished through several ways:

  • Online: There are many web pages dedicated to listing homes for sale. These pages are often useful for finding homes that are out of your travel range, and often include numerous pictures and detailed information. is a great choice to research online.
  • Using a real-estate agent: Again, is a great way to find a qualified realtor.  Many people use real estate agents to navigate through the paperwork involved in buying a new home.


Putting Together the Purchase Contract

Also referred to as a "sales contract" or "purchase agreement" , the document represents the finalized terms and conditions upon which the transfer of real estate will take place.  A purchase contract is essentially an agreement between the buyer and seller to purchase an agreed upon property on agreed upon terms, whatever they may be. The Purchase Contract will among other things address:  restrictions and easements, liens on the property, inspections, prior leases, disclosures, preparing of documents for closing, and maintenance of the property up to closing.


VA Home Appraisal

You will need a satisfactory appraisal in order to finalize the loan, the home must be worth the sale price. It is important to remember that while the VA appraisal estimates the value of the property, it is not an inspection and does not guarantee that the house is free of defects. Homebuyers should hire a reputable home inspector to help give everything a close look. VA guarantees the loan, not the condition of the house.


VA Loan Closing

If the appraisal is acceptable to all parties and the lender determines that you loan is approved, the VA closing process begins.

All parties go to the loan closing and sign the note, mortgage and other related papers. The lender or closing attorney will explain the loan terms and requirements as well as where and how to make the monthly payments. When the loan is reported to the VA, the Certificate of Eligibility is annotated to reflect the use of entitlement and returned to the Veteran. The loan closing procedure may vary in some states, but after the signing your loan will fund and you receive the keys!


Questions about the VA loan process here in Florida?  Please call 904-385-3988 or visit  We are available to assist Florida and Georgia home buyers 7 days a week.