-
Apply for a Certificate
of Eligibility.
A veteran who doesn't have a certificate can obtain one easily by
completing VA Form
26-1880, Request for a Certificate of Eligibility for VA Home Loan
Benefits and
submitting it to one of the Eligibility Centers
with copies of your most recent discharge or separation papers covering
active military duty since September 16, 1940, which show active duty
dates and type of discharge.
-
Decide on a home the
buyer wants to buy and sign a purchase agreement
-
Order an appraisal from
VA. (Usually this is done by the lender.)
Most VA regional offices offer a "speed-up" telephone appraisal
system. Call the local VA office for details.
-
Apply to a mortgage
lender for the loan.
While the appraisal is being done, the lender (mortgage company, savings
and loan, bank, etc.) can be gathering credit and income information.
If the lender is authorized by VA to do automatic processing, upon
receipt of the VA or LAPP appraised value determination, the loan
can be approved and closed without waiting for VA's review of the
credit application. For loans that must first be approved by VA, the
lender will send the application to the local VA office, which will
notify the lender of its decision.
-
Close the loan and the
buyer moves in.
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