What is VA Loan Underwriting?
Added April 15, 2010 It’s common to see or hear the terms “underwriter” and “underwriting” when applying for a VA loan. So, what is a VA loan underwriter and what is the VA underwriting process? The VA loan underwriter verifies whether every aspect of the VA mortgage loan meets the guidelines of the VA Home Loan Guaranty Program. All VA loans are underwritten to VA guidelines. Often VA-approved lenders who make the actual VA mortgages have guidelines in addition to those of the VA. It is the underwriter who ultimately determines whether a VA loan application is accepted or rejected. VA and lender guidelines are well in place before a borrower begins the VA loan application process. And, each applicant must meet the pre-established criteria. An effective loan officer is knowledgeable about these guidelines and is skilled at doing a thorough screening prior to any loan application being submitted to underwriting. The underwriter checks that certain requirements are met by both the borrow
