Where to Apply for a VA Loan in Colorado Springs
Once you’ve determined you’re eligible for a VA loan, it’s time to apply. VA home loans are backed by the government but are still issued by individual lenders. Therefore, working with the right lender for your VA loan in Colorado Springs can make all the difference. Here’s where you can go to get a VA loan.
Apply with Your VA Loan Lender
Both nationwide and local lenders are available for your VA loan in Colorado Springs. While a national lender may be familiar with the VA loan lending process, a local lender is intimately familiar with your housing market.
It’s also important to make sure you choose a lender that will help you with your weaknesses. For example, some lenders design offerings to work with people with poor credit. Others are entirely online, and can help military members manage their loan when they are stationed overseas.
Make sure your lender knows in the very first meeting, or point of contact, that you have a service history, and you intend to get a loan backed by the VA. This well help the process along considerably.
Getting preapproved for a veterans loan means your financial documentation gets processed at this stage. This is where you can see what APR and lender’s fee you can negotiate. This gives you an idea of the terms you will get and can choose to move forward (or not) with the process.
Get Your Certificate of Eligibility
Once you’re pre-approved, you can simply go through the motions of securing the loan. Your Certificate of Eligibility proves you are eligible to receive a VA loan. Your lender should be able to request a Certificate of Eligibility on your behalf.
Submit the Application
Once you have found a property, submit your application for the VA loan. Communicate with your loan officer about the progress of the application and what additional documentation is needed to keep the process moving forward.
Applying for a VA loan in Colorado Springs is less intimidating than you might think. The expert loan officers at Mortgage Solutions Financial can explain the VA loan process and help walk you through the application process. Simply give us a call or stop by to start the process of owning your own home today.