VA paperwork

Real Estate Agent with Coldwell Banker United, Realtors

Does anybody know if there is some good information out there on walking through the VA paperwork on a loan? I feel like I don't understand enough about the process. I am in the middle of a VA guaranteed loan now, and it looked like it wasn't going to be too difficult a process.  Today, I had no less than 6 phone calls asking me for information. I gave it, and it took until 4pm to figure out that they wanted something different.  I really need some more info on the whole process. Any resources with an outline of the process would be great help. Thanks.

Comments (3)

Nancy Larson
I am a licensed referral agent in NJ - Hutchinson Island, FL

I have never done one, but was trained on it. First and foremost you need to know the eligibility status of the veteran. 

Jul 02, 2008 03:03 PM
Nancy Larson
I am a licensed referral agent in NJ - Hutchinson Island, FL

Chris, use the search and put in government loans, there is someone on AR who is a specialist in this field.

Jul 02, 2008 03:07 PM
Wayne L. Brown
Franklin Advantage Inc. - Alpine, CA


VA loans really are fairly simple.  Most of us when we come across something new are intimidated by the thought.

Nancy made a good point, but since you are already in the middle of an escrow, I'd put the heat to your lender.  They should know what they are doing.......if not the processor.....your L/O should know as well.

Underwriting is flexible.  Just ensure that your Veteran has all their paperwork, ie, DD-214 Discharge papers available which is usually the hangup.  If it not current, or he does not have his eligibility certificate, Va can issue within a week or so.  VA assigns a case number like FHA and an appraiser is selected who is approved by the VA.

Costs are pretty straight forward.....the VA Funding Fee is more if a Veteran has used the VA before, or has remaining entitlement.

Best of Luck.

Jul 02, 2008 03:15 PM