One of the reasons why veterans choose to use their benefits and apply for a VA loan is because it is much less of a problem than applying for other loan types. Websites like wasatchpeaks.com say these are the steps you can take to apply for a VA loan and move in your new home in no time.
Select a lender
The first step in applying for a VA loan is to look for a VA loan approved lender in Ogden. Only ones approved by the US Department of Veterans Affairs are allowed to process VA mortgages. Find a lender who specializes in VA loans to make the whole process quicker.
Determine your eligibility
Once you find the right lender, the next step is to determine your eligibility as a borrower. Your eligibility is proven through the issuance of the Certificate of Eligibility (COE) from the department itself. Provide your lender with the necessary information that he needs, and he should be able to help you get your COE.
Go house hunting
Then you should find your dream house. But remember that VA loans are only applicable to certain types of properties such as ready to move in houses. Finding a real estate professional who specializes in VA processes can help you find the right house for the right deal.
Process application and orders
Once your purchase order is confirmed, your lender will order the VA appraisal. Make sure you have appraisers who specialize with VA standards which can evaluate the property considered for VA financing.
Close the loan and move in
Review the contract properly, ask a lawyer or an agent for advice. If everything is in order, sign it and get ready to move to your house. When you seek help from the right people, applying and getting a VA loan is not that complicated. Make the most out of your privilege and apply for a VA loan to be able to enjoy the comforts of your own home in no time.