VA Mortgage Check List
The VA Home Loan is the Best mortgage available it today's Rela estate Market. It offer those eligible veterans the opportunity to purhcase a home wih no money down. If you presently own a home you can cash-out up to 100 percent of the appraiser value of the home. Both of these types of loans with 10% financing has no monthly mortgage insurance.
VA loans are approved by traditional lenders who then seek the Veterans adminstaration to guanratee the incase of a default by the Veteran. So you will need to get together your Incoem, Assets, and Credit prior to geting your approval. Do not worry as you do not need have all these items listed below to get a pre-qualification.
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VA Mortgage Check List
Personal information needed:
Name, Address, and Phone Number
Previous addresses for the past 2 years
Dates of birth nad years of school completed
Social Security numbers for all applicatants to confirm their credit history
Copy of Valid ID like a driver's license or government ID
Number and age of dependents if any
Military information needed:
Copy of your DD124 for those of you no longer in the service
Completed form 26-1880, we will provide to you
Statement of service for your commanding office if you are active duty
Your COE (certificate of eligibility with the VA) we will help you complete that
Employment/Income:
Name, Address, phone number, and dates of employment for all borrower over the last 2 years
30 day's worth of Paystubs or your most recent LES
Last 2 year's W-2's
Last 2 year's 1040's all schedules
Copies of any social security, pension, and/or retirment awards letters and the corrresponding 1099's
Divorce decree, and settelement paperwrok and any child support
Assets
last 2 months bank statements for checking and savings account to proved funds you have avaialble to assist with any down payment and/or closing costs. (all pages are needed)
Last 2 months asset/investment statement to prove any additional funds that might be needed for closing. ( all pages are needed)
Last 2 months or last 2 Quarters of your retirment statements. (all pages are needed)
Credit/Liabilities
Need to know your curren credit card, student loan, auto loan and any other revolving or fixed credit accounts. This will be acquired by your loan officer
Expalantion for any derogatory credit,(if applicable)
Explanation for any credit inquires and if any new debt resulted, (if applicable)
Bankruptcy and discharge paperwork, (if applicable)
Foreclosure Paper Work, Short Sale Paperwork, or Deed inleu, (if applicable)
Property
Copy of the Contract of Sale accpeted with signatures from buyer and seller
Copy of NPMA form 33 which is the VA termite remote, we will provide both buyer and seller must sign
Name and number of your attorney, real estate agent and homeowners insurnace agent
Appraisal of Property, we will order through lender
Title Report, will be ordered by your attorney
Home Inspection Report to be completed
The Mortgage Outlet is Ready to help you Apply for a VA Home Loan
You have earned the privilage to apply for this great program. Call us at 631 589 3600 to speak directly with David or Erika Bailey, or complete our no-obligation, simple contact request form to speak with one of our experts.
Other Resources
VA Mortgages vs Conventional Mortgages
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