Those who served our country can move into a home with zero down payment using a VA mortgage if they meet the service record requirements.
Quick Tips to Speed Up Your VA Loan Process
If you are applying for a VA home loan, you might be wondering what you can do to speed up the process. Here are a few quick tips.
- Consult with your Member Mortgage Services Loan Officer. Member Mortgage Services Loan Officers have extensive experience in VA loans. Member Mortgage Services Loan Officers know the ins and outs of the process and can move quickly through each step. They can foresee potential obstacles that might arise and address them rapidly, helping you close without delays.
- Get your COE. To obtain approval for a VA mortgage, you need to present an important document called your Certificate of Eligibility (COE). Your Member Mortgage Services Loan Officer has the experience to get eligible Veterans approved for VA loans, they are ready, willing and able to access your COE through the portal for you.
- Get the rest of your paperwork prepared. Along with your COE, some other documentation you will need to provide includes your pay stubs, tax documents, statements and letters related to retirement accounts and pensions, your benefits letter for Social Security (if applicable), and your VA disability award letter (if applicable). There may also be situations where you need to provide other documents relating to enlistment or re-enlistment or other extraordinary circumstances. The more of this paperwork you have ready to go at the start of the process, the faster it will be to apply for a VA mortgage successfully.
- Check your credit reports. Applying for a VA mortgage is like applying for any other type of home loan in that your credit score is one of your key qualification factors. You should look up your score before you apply and check your credit reports. Scan through the data in their reports carefully, as errors are common. Correcting errors in advance can raise your score before you apply for a loan.
- Get pre-approved. Tell your Member Mortgage Services Loan Officer you want a “Underwriting Approved” Certificate of Approval! You can share this with sellers and their real estate agents to let them know you are serious! Seriously Approved! This Lets all parties involved know your Credit, Assets and income all underwritten by a live underwriter making you as approved as a buyer can be without yet having chosen a property.
- It is equally important to collaborate with an expert Realtor when purchasing a property. Remember the Listing Broker (the seller’s Broker/Agent) is not your agent. They do not, cannot, and will not work for you! An experienced Realtor can structure the transaction in such a way, so you do not need any money for closing costs, settlement charges to establish an escrow account for your taxes and insurance. If you are not collaborating with a Professional Realtor, ask your Member Mortgage Loan officer for a few recommendations.
Apply Quickly and Easily for a VA Mortgage Now
MMS Mortgage Services is based in Farmington Hills and can help you apply for a VA loan anywhere in the state of Michigan and beyond. We have worked for numerous veterans, active-duty service members and spouses throughout the region and can rapidly walk you through the approval process. If you are ready to apply for a VA mortgage now, please give us a call today at (248) 788-0800. We look forward to getting you into your new home.