The VA Home Loan was created in 1944 by the United States government to help returning service members purchase homes without needing a down payment or excellent credit. This historic benefit program has guaranteed more than 24 million VA loans, helping veterans, active duty military members and their families purchase or refinance a home.
Today, the VA Mortgage is more important than ever. In recent years, lenders nationwide have tightened their lending requirements in the wake of the housing market collapse, making the VA loan a lifeline for Veterans and active Military home buyers, many of whom find difficulty when faced with tough credit standards and down payment requirements.
The VA loan is a $0 down mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders, such as a mortgage company or bank, and guaranteed by the U.S. Department of Veterans Affairs (VA).
The following items may be critical to your VA loan being completed in a timely manner. Please provide them if they apply to you.
- Copy of DD 214
- Last 30 Days paycheck stubs for all borrowers (if applicable)
- Last 2 years W-2’s for all borrowers (if applicable)
- Last 2 years tax returns for all borrowers. Including all forms
- Last 2 months bank statements (savings and checking)
- Copy of Divorce decree, including all pages (if applicable)
- Copy of Drivers License for all borrowers
- Copy of all Pension Statements, “Award” Letter, etc. (if applicable)
- Copy of Social Security Annual “Award” Letter, Statement, etc. (if applicable)