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VA Loan Facts
VA MORTGAGE CHECKLIST
Before you start the loan process, you'll need to have some information at hand for all
loan applicants:
- Social Security numbers
- Residence addresses for the past two years
- Names and addresses of your employers over past two years
- Your current gross monthly 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
In addition, you will need to pay for a credit report and appraisal of
the property.
FREQUENTLY ASKED QUESTION # 13 [ -more VA Loan questions- ]
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Q: Your Discharge May Affect Your Chances - I don’t have an honorable discharge. Am I automatically disqualified from VA loan eligibility?
A: The nature of your discharge can affect your eligibility for a VA loan. The certificate of eligibility process gets complicated for veterans separated from the military with a discharge other than honorable. In these cases the VA checks to see if the discharge was classified dishonorable. If you had an 'other than honorable' discharge, seek help from their local VA office, it's best to get some expert advice on what additional information to file, where to send the paperwork and what to do if an appeal is necessary. Be sure to include copies of your DD214 form, plus any paperwork or documentation showing that you either didn't receive a dishonorable discharge, or had your discharge upgraded, modified, or corrected.
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VA Loan Rates
for 7/20/2008
30 year fixed
-----------------
0.000 points
6.500%
6.618% APR
15 year fixed
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0.000 points
6.500%
6.500% APR
Life Insurance for Military Members
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