VA Mortgage Purchase Loan Checklist

A VA purchase checklist covers six areas: your Certificate of Eligibility, ID and personal details, income, assets, the property contract, and explanations for anything unusual in your credit. You do not need every item to get pre-approved. Start with a short call and fill in the rest as you go.

What is the step-by-step VA purchase process?

1. Talk to a loan officer. We review your service, credit, income and goals, and explain what you can likely afford.
2. Request your Certificate of Eligibility. We can usually pull it electronically. See how to get your COE.
3. Get pre-approved. You receive a letter to show sellers. See how to apply for a VA loan.
4. Shop with a VA-savvy agent. Tell your agent early that you are using a VA loan.
5. Write the offer. Include the VA financing terms and a realistic timeline for the appraisal and any repairs.
6. Submit your documents. We upload what you provide and send your file to underwriting.
7. Appraisal and inspections. The VA appraisal checks value and minimum property requirements. A termite inspection is required on a purchase. See VA appraisal and minimum property requirements.
8. Underwriting and conditions. You answer follow-up requests. Respond quickly; it is the biggest time saver.
9. Closing disclosure and signing. You must receive your Closing Disclosure at least 3 business days before closing.
10. Move in. Plan to occupy the home as your primary residence.

Which documents do I need?

Personal information

• Full name, current address and your addresses for the past 2 years
• Date of birth and Social Security number for each applicant, so we can check credit
• A valid photo ID
• The area where you plan to buy and your budget
• The number and ages of your dependents (this affects residual income)

Military information

• Your Certificate of Eligibility, which we can request for you
• A copy of your DD214 if you have separated from service. Read more at do I need a DD214?
• A statement of service from your command, if you are on active duty

Employment and income

• Employer names, addresses, positions and dates for the last 2 years
• Your most recent 30 days of pay stubs
• Your last 2 years of W-2s and federal tax returns
• If self-employed: 2 years of federal tax returns with all schedules. See self-employed VA loans.
• Award letters for Social Security, pension, retirement or VA disability income
• A divorce decree or support documents, if they apply

Assets

• Your two most recent months of bank statements, showing funds for any down payment and closing costs
• Two months of retirement account statements, if you use them as reserves
• If you own other real estate: the insurance declarations page, property tax bill and latest mortgage statement

Property

• The signed purchase contract and any addenda
• Your homeowners insurance agent's contact information
• The homeowners association name and contact, if there is one. California condos and planned developments often need an HOA package.
• A home inspection report. The lender does not require it, but we recommend one.

Credit and debts

• A general list of cards, student loans, auto loans and other accounts. We pull your credit report, but it can be outdated.
• Child care costs, if they apply
• Letters of explanation for late payments, collections or other negative items
• Bankruptcy and discharge papers, if they apply. See VA waiting periods after a credit event.

How much cash should I plan for?

VA purchase loans generally do not require a down payment up to the reasonable value of the home. You may still need cash when:

• The price is above the appraised value.
• You have partial entitlement and the loan is above what your remaining entitlement supports. See VA entitlement.
• You pay closing costs, prepaids or points out of pocket instead of negotiating them.
• You want a lower funding fee by putting down 5% or 10%. See the VA funding fee.
• The earnest money deposit, which is commonly about 1% to 3% of the price and is credited at closing.

The seller may pay normal closing costs and discount points, and other seller concessions are capped at 4%. There is no monthly mortgage insurance on a VA loan, but the funding fee applies unless you are exempt.

What does the lender check besides documents?

Lenders review credit history, debt-to-income ratio (the VA guideline is 41%) and residual income, which is the money left each month after major expenses. If your ratio is above 41%, residual income must exceed the guideline by 20%. The VA sets no minimum credit score, but lenders do. Read the VA credit score guide.

Which properties qualify?

The home must meet the VA's Minimum Property Requirements: safe, structurally sound and sanitary. You must intend to live in it. One- to four-unit properties are allowed if you occupy one unit. See eligible property types and the program page on VA-eligible properties.

Refinancing instead? A VA Streamline needs much less paperwork. See documents needed for a VA Streamline refinance.

At Lendia, we walk you through the paperwork

At Lendia, we handle the VA details so the list never feels bigger than it is. A Licensed Lendia California Loan Officer tells you exactly what your file needs and when. Contact us or get a rate quote now.

Frequently Asked Questions

Do I need all these documents for pre-approval?

No. A pre-approval can start with basic information, a credit check and your income and asset details. The full document set is collected after you have a contract.

Do I need a down payment?

Eligible borrowers with enough entitlement are not required to make one, though a down payment lowers the funding fee. Limits apply when the price is above value or entitlement is partial.

Who orders the appraisal?

Your lender orders it through the VA, which assigns the appraiser.

What happens after pre-approval?

You shop, make an offer, and we order the appraisal and continue underwriting toward closing.

Can I use a VA loan for a rental or second home?

No. A VA purchase loan is for a primary residence you will occupy.

Rates and terms depend on your situation; approval requires qualification.