VA Mortgage Documents Checklist
One of the most important aspects of closing your loan quickly and efficiently is providing the most accurate and up to date information to the underwriter. The following is a list of the required VA mortgage documents that American Nationwide Mortgage will be needed to complete your VA home mortgage. This VA document checklist is the basic information needed. Your loan officer may require more information based on specific individual circumstances.
In addition to your Statement of Service or DD-214 and your Certificate of Eligibility, your lender will require several personal documents in order to process and underwrite your VA mortgage . In most cases these include the following personal documents for all borrowers:
1. Last 2 Pay Stubs (totaling 30 days) all borrowers
2. 2013 and 2014 W2s and/or 1099’s
3. Two most recent years Personal Tax returns, all pages
4. (If Applicable) Two most recent years Business Tax returns, all pages and schedules.
5. Copy of your Driver’s license and Social Security Cards, all borrowers
6. Assets- Two month’s bank statements, all pages and statement from any TSP, 401k, etc. used to prove assets
7 . Copy of your DD214 or Summary of Service so I can obtain Certificate of Eligibility from the VA
8. Copy of your COE (Certificate of Eligibility) if you already have it. If you do not have a copy I can request a copy from the VA
9. (If Applicable) Social Security Award Letter
10. (If Applicable) Military Retiree Annual Benefits Statement
11. (If Applicable) Social Security Annual Benefits Statement
12. (If Applicable) Divorce Decree
14. (If Applicable) Bankruptcy papers, all pages
15. (If Applicable) Current mortgage statement for current home and all other properties owned/retained and/or breakdown of principle and interest, insurance, taxes and misc. expense such as HOA
Name and contact information for Home Owners Insurance Company you will be using for your hazard insurance. If you do not have someone in mind we can help you find a provider.
16. For a purchase we need the name, address, phone and contact email information for your realtor. If you do not have one yet we can help you find a qualified realtor in your area
*We suggest using one of the Realtors within our network. These realtors are familiar with the VA loan and Veteran’s needs. Our goal is to get our veterans the best deal possible, and to get you in your new home for as little out of pocket as possible!
*Upon review we will send you and your Realtor the Pre-Approval Letter which will inform your Realtor that your income, credit, and assets have been verified. This will be used to make an offer on any properties that you may be interested in.
A few points to keep in mind:
• Maximum of 4% in Sellers Contributions toward your closing costs (this should cover most if not ALL of your closing costs)
• 100% Financing
• No Mortgage Insurance added to your monthly payment regardless of Down Payment (FHA and Conventional Loan WILL have this with less than 20% down)
• Home Owners Insurance and Property Taxes must be included into the Total Monthly Payment
• We DO NOT charge Origination Fees and our Rates DO NOT have Discount Points –less fees (MOST Lenders will charge 1% of the Loan Amount)
Here are the steps we would take during the purchase process:
1. Retrieve Updated Certificate of Eligibility from the VA –
2. Complete Application
3. Qualify the Loan – requested Income Statements and supporting documents
4. Supply you and Realtor with Pre-Approval letter
5. Shop for the new home-
6. Make an offer-
7. Purchase Contract-
8. Submit the loan to the processing and underwriting department (3-4 weeks closing time)
Every veteran borrower is unique and may require additional documentation specific to their situations. The best thing to do is to fill out the pre-Qualification form, and a VA Specialist will contact you to pre-qualify you. They will be able to provide you with a documents checklist specific to you and your individual profile.