What to Expect with a VA Home Loan

  1. Find a real estate professional to work with. Perhaps a friend has someone to recommend. Or you could look under "Real Estate" in your yellow pages or on the web.
  2. Fill out our brief form to be contacted by a Mortgage Loan Specialist from KS StateBank They will get you pre-qualified, and help identify how much you can afford.
  3. We will help you obtain your Certificate of Eligibility online.
  4. Work with your real estate professional to shop for a new home.
  5. Once you have identified the home you want to buy, we can complete your loan application and gather the needed documents such as pay stubs and bank statements.
  6. We’ll order a VA appraisal and begin to "process" and verify all the income and asset information. (We want to stress one point here. The VA's appraisal is not a home inspection or a guaranty of value. It's just an estimate of the market value on the date of the inspection. Although the appraiser does look for safety, structure and sanitary issues, the VA doesn't guarantee the condition of the house. The appraiser, who is licensed, is not a VA employee. Inspector assignments are made on a rotating basis from qualified VA appraisers. We highly recommend you work with your agent to find a qualified and trusted home inspector to identify any concerns about the condition of your prospective home.) Per the financing portion of your sales contract, the VA escape clause protects you from overpaying for the property. If the appraiser determines the market value of the property to be less than the price you negotiated, you are not obligated to complete the transaction.
  7. We’ll review the appraisal and all the documentation of credit, income, and assets, and determine if the loan should be granted. Once all income and assets provided during the pre-qualification application has been verified, final approval will be provided to you, your agent and the seller.
  8. Finally, the closing takes place at the title company, and the property is transferred. The title company will coordinate the date and time.

Start the VA Home Loan Application process now