Why a VA loan?
The more you know about our home loan program, the more you will realize how little “red tape” there really is in getting a VA loan. These loans are often made without any downpayment at all. Aside from the veteran’s certificate of eligibility and the fact that the appraiser is assigned by VA, the application process is not much different than any other type of mortgage loan. And if the lender is approved for automatic processing and the Lender Appraisal Processing Program (LAPP), as more and more lenders are now, a buyer’s loan can be processed and closed by the lender without waiting for VA’s approval of the credit application or for VA to review the appraisal. Lenders are also able to use VA recognized automated underwriting systems, such as Loan Prospector and Desktop Underwriter, to facilitate the underwriting process. FIVE EASY STEPS TO A VA LOAN • Apply for a Certificate of Eligibility (COE). A veteran can obtain a COE by completing VA Form 26-1880, Request for a Certificate of
