Preparing for a VA Loan

0:00Preparing for your VA loan. This is a money minute from InCharge Education Foundation and MilitaryMoney.com. If you're thinking of applying for a VA loan, there are three things you can do ahead of time that will make the process smoother and may get you the home of your dreams faster. 1. Review your credit report. Request a copy of your credit report from each of the three main credit bureaus. Correct any mistakes by contacting the credit agency directly and providing the documentation they need. 2. Get your certificate of eligibility. Contact the Department of Veterans Affairs for a copy of your certificate of eligibility or COE. If you haven't ordered your COE before you've applied for a VA home loan, your VA lender can order the certificate on your behalf. 3. Gather your VA required documentation. To document employment and income, you need your two most recently filed federal income tax returns. Your two most recent W2 forms and your most recent paycheck stubs covering 30 days. You must also provide your most recent bank statements showing sufficient funds to close. This money minute is made possible by InCharge debt solutions. Visit us online at www.incharge.org.