The VA Loan Pre-Approval Process can be easily achieved in five easy steps, making it significantly easier for veterans of our armed services to acquire a home for a very affordable cost.

1. VA LOAN PRE-APPROVAL
PROCESS
Stepone: fill out the va forms
Veterans and their families can simply
complete as much of the application as
possible, asking their banking loan
officer to help them fill in the blanks
with the remaining unanswered
questions. Always make sure to ask for
a banking official who has extensive
knowledge and experience with the VA
Loan Program.
STEPTWO: FILE FORM 26-1880
You will need to complete Form 26-1880 in
order to receive your Certificate of Eligibility
(COE). Make sure to double check your social
security number on this form which will be
used to obtain your VA Loan Credit Score.
Veterans will need to verify their service via
their DD Form 214 and active duty military
will need to provide proof of active service (ID
card or Leave and Earning Statement).
Form 26-1880
COMPLETE
TO RECEIVE Certificate of Eligibility
FORM
26-1880
Certificateof
eligibility
va loan
creditscore
stepthree:locate income documentation
The agency in charge of reviewing your application
during the VA Loan Preapproval Process will want to
make sure that you have the ability to repay your loan
by verifying your wages and personal employment.
Also, taken into consideration is whether the veteran
will have the necessary available cash each month to
cover basic household needs, called the Residual Income
Requirement.
documentsThatVERIFY
wages&EMPLOYMENT
taxreturns
pAYCHECKSTUBS
w2taxdocuments
disabilitydocumentation
retirementStatements
StepFour:Credit Review
Once you have successfully completed all of
the necessary paperwork and have passed
the preapproval credit review, the next step
will be to determine how much money you
are allowed to borrow for the purchase of
your new home.
Step five:determineyourtotalbenefits
THEMINIMUM
vA loan credit
score ALLOWED is (subject to change)
AchievingTHEMINIMUM
creditscore doesnot
guaranteeapproval

2. This may be the most intimidating process,
obtaining your credit review. After your forms
are complete, your bank’s loan officer will ask
for your permission to run a credit report.
Liens
credit report items that could jeopardize
theva loan pre-approval process:
creditscore doesnot
guaranteeapproval
Slow Payments
foreclosures
foreclosures
Bankruptcies
A document will be issued, acting as a type
of preapproval letter that will come in
handy when dealing with real estate
agents and mortgage writers.
ONE DETERMINING
FACTOR will be
based on branch
& lENGTH OFTIME
IN MILITARY
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Source: http://sellingwarnerrobins.com/2014/02/va-loan-preapproval-process/