Check this simple list twice: Mortgage Preparedness Checklist
The dream of home ownership became a reality for veterans in 1944 when the official VA Home Loan Program, originally known as the Servicemen's Readjustment Act or (the GI Bill of Rights), was signed into law by President Franklin D. Roosevelt.
The law made it possible for United States veterans to purchase a federally insured or guaranteed home with no down payment. This one simple act gave home ownership assistance to millions of veterans and their families.
In fact, the GI Bill contributed more than any other military program in history to the welfare of United States veterans and their families, thus allowing the nation's economy to grow.
Since then, the VA home loan has been extremely popular and advantageous to the more than 25.5 million veterans and service personnel eligible for VA financing.
So - you're ready to apply for your VA new home loan - have you prepared well enough to be approved quickly?
In this case, it literally pays to be prepared. When you're approved without complication for your VA new home loan, you'll experience no delays, no missed deadlines which can incur late fees, no missing out on your mortgage rate or on getting the house you want, now.
Let's start at the top with a simple checklist of items to bring when you fill out your mortgage application, so you're complete your VA home loan application the first time around:
- Social Security numbers
- Residence addresses for the past two years
- Names and addresses of your employers over past two years
- Current gross monthly military salary
- Names, addresses, account numbers and balances on all checking and savings accounts
- Names, addresses, account numbers, balances and monthly payments on all open loans
- Addresses and loan information of other real estate owned
- Estimated value of furniture and personal property
- Certificate of Eligibility and DD214, (for veterans only)
- W2's for the past two years and current check stubs
For self-employed individuals, you will need to provide personal tax returns for the past two years, current income statement and balance sheet for the business
