Those who have made the sacrifice for our country deserve the opportunity to live in a home they’ve always dreamed of. That’s why we’re committed to providing competitive VA loans to veterans. The best part? It’s typically easier to qualify for VA loans than conventional mortgages, and with help from our expert loan consultants, we’ll make the process even easier. If you’re interested in a VA Loan in the St. Louis area, just check out the four-step process below.
1. Pre-qualification and Pre-approval
Getting prequalified and approved is a simple but incredibly important step in the process. Pre-approval typically involves providing and verifying information that you already have, such as your home buying intentions, income stability, and tax records. Don’t worry – even if you don’t get prequalified and approved, you can still make an offer and sign a contract on a home.
2. The Contract
Once you’re prequalified and approved, you can start the part you’ve been waiting for – looking at houses. After pre-qualification you’ll have a better idea of an affordable monthly payment, allowing you to look at properties that best fit your budget. After finding the home you want, work with your real estate agent to draw up a contract that takes full advantage of your VA loan benefits, including having the seller pay for mortgage related closing costs.
Now that you’ve got your contract figured out, we’ll work on the appraisal process. Although appraisal isn’t the exact same thing as a home inspection, it’s pretty close. We’ll take a look at the home you’re interested in to check the condition and determine if the price is comparable to the market. That way you can talk with the seller to either lower your purchase price or have those repairs completed.
4. Close It
Now this is the step you’ve been waiting for. Once we’ve completed everything else, you’ll finally have the chance to close the purchase of your new home. After a final walkthrough and verification of some financial documents, you’ll be ready to start the hardest, but most rewarding part of all – moving in.
If you’re a veteran looking for a home in the St. Louis area, Liberty Lending can be a priceless partner during every step of the VA loan process. If you want more information on getting a VA loan in St. Louis? Fill out our form or give us a call at 314-336-9111.