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- Apply for a Certificate of Eligibility.
A veteran who doesn't have a certificate can obtain one easily by completing
VA Form 26-1880, Request for a Certificate of Eligibility for
VA Home Loan Benefits and submitting it to one of the
Eligibility Centers with copies of your most recent
discharge or separation papers covering active military duty
since September 16, 1940, which show active duty dates and
type of discharge.
- Decide on a home the buyer wants to buy and sign a
purchase agreement
- Order an appraisal from VA. (Usually this is done by the
lender.)
Most VA regional offices offer a "speed-up" telephone
appraisal system. Call the local VA office for details.
- Apply to a mortgage lender for the loan.
While the appraisal is being done, the lender (mortgage
company, savings and loan, bank, etc.) can be gathering credit
and income information. If the lender is authorized by VA to
do automatic processing, upon receipt of the VA or LAPP
appraised value determination, the loan can be approved and
closed without waiting for VA's review of the credit
application. For loans that must first be approved by VA, the
lender will send the application to the local VA office, which
will notify the lender of its decision.
- Close the loan and the buyer moves in.
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