One of the most crucial aspects of closing your mortgage quickly and efficiently is providing accurate and up-to-date information to the underwriter. While every veteran is unique and may require additional documentation specific to their circumstances, the following is a list of the key documents necessary when applying for a VA home loan in Hunt, TX:
Certificate of Eligibility
The Certificate of Eligibility (COE) proves that you meet qualification standards and can receive the VA mortgage benefits. It also details how much entitlement you can receive, which the VA department will insure if you miss loan repayments and default. The certificate of eligibility can be obtained via your lender’s portal or by visiting the va.gov website.
Also known as the discharge from active duty or certificate of release, a DD-214 form is a document you receive when you’re leaving your military duty. It’s often required to obtain a certificate of eligibility. However, National Guard and Reserve Veterans might not have a DD-214 form due to the nature of their service. In such instances, the veterans will have to obtain NGB Form 22 in addition to the retirement points statement.
Employment and Income Documentation
Employment and income documentation is required so that the lender can determine your affordability before approving your VA mortgage. Typically, the lender will need you to provide two-year W-2 statements, the most recent bank statements for your savings, checking, investment, and retirement accounts, and the most recent pay stubs. They might also require verification of liquid assets and, where applicable, a divorce decree with proof of alimony or child support.
Want to Learn More?
VA-guaranteed mortgages are an excellent way for military members to own homes. If you’re considering a VA loan for your new home, reach out to our real estate pros at 210-446-9902. With over 20 years of veteran experience, we’ll ensure you find the best lender and buy your dream home in Hunt in no time!