How to Buy Your Colorado Home with a VA Loan
Purchasing a home and using your VA eligibility is the perfect way to finance your new property with a low interest rate, no down payment and no monthly mortgage insurance.
Buying a house with a VA loan can seem overwhelming when you first speak with a lender, but the process is fairly easy.
VA Mortgage Loan Process:
Once you finish signing and money is exchanged, you are a proud new homeowner!
Be aware that once your mortgage is recorded and the VA is alerted of the financing, your Certificate of Eligibility will be updated to reflect use of entitlement. Once that is finalized, the certificate will be returned to the veteran.
The single largest question we receive is “How long will the VA loan approval process really take?” The overall length of time required for a VA mortgage approval varies based on the lender you are working with. However, I would estimate anywhere from 3 weeks to 45 days for full loan approval and closing.
Discuss your expectations in detail with your lender to ensure a smooth loan process. The most important is to send all of the requested documents as soon as possible. It’s also imperative that you work with a knowledgeable VA loan specialist.
Well, you are speaking my language when you talk VA! Thanks for the good info – and hopefully those veterans will pursue what I think is the BEST loan product available!
Louise – From your mouth to Veterans ears. I hope that our joint efforts can spread the word from CO to LA about this fantastic loan program! You are absolutely right – it is the best loan product available!
[...] you are a veteran interested in purchasing a home in Colorado Springs Colorado, you may wonder how your VA loan is approved and guaranteed. One of the most common [...]