As with all real estate transactions, applying for a veteran home loan involves completing some paperwork. For many people, the prospect of filling out paperwork can seem daunting or even invoke feelings of anxiety. You may worry about making a mistake on your application such as a spelling error, filling out your paperwork incorrectly, or getting denied for a loan. But filling out paperwork doesn’t have to be stressful. The experts at Mortgage Solutions Financial are here to guide you. Below, we’ve shared some tips for veterans who are getting started with the VA loan application process.
Getting Started with Your VA Loan Paperwork
Before you can submit an offer on a home, you’ll need to get prequalified for a loan. If you’re a veteran or active duty service member, you may be able to apply for a VA loan and buy a home with zero down. The veteran home loan application process is fairly straightforward, but it does require some paperwork. Here are some tips to help you get started:
1. Obtain a Copy of Your Service Record
You’ll need a copy of your Service Record (DD-214) or a statement of service in order to obtain a Certificate of Eligibility. If you don’t already have a copy of your Service Record, you can get one by filling out Standard Form 180. Then, you’ll mail the form to the National Personnel Records Center. Their mailing address is 9700 Page Ave. St. Louis, MO 63132-5100.
2. Submit a Certificate of Eligibility Request
Once you have a copy of your Service Record (or statement of service), the next step is to submit a request for your COE. Your COE, or Certificate of Eligibility, is an official document that serves as evidence that you meet all the necessary requirements to qualify for a VA home loan guarantee. To get a COE, you’ll need to submit your Service Record along with VA Form 26-1880 to your Regional Loan Center. You can also request a COE online by signing into VA.gov.
3. Talk to a Lender and Get Prequalified
Now that you have your COE, it’s time to start checking into lenders. Once you find a lender you’d like to work with, you can begin the loan application process. Your lender will go over all the necessary documents you will need to apply, but most likely you’ll need a government-issued ID, some form of proof of income, tax documents, and recent bank statements.
If you’re confused about how to get your COE or would like help, your lender should be able to assist you with this as well. Or if at any point you have questions, don’t hesitate to ask and reach out for help. Your lender is there to guide and support you. They will be more than happy to answer any questions you may have.
Chat with a Veteran Home Loan Expert
Get started with the VA loan application process! Call today to speak to an expert at Mortgage Solutions Financial.