Timeline of Events
Steps to Owning a Granada, CO Home with a VA Loan

STEP 1: Pre-Qualify It’s important to pre-qualify because it helps you know how much of a home you can afford. This is a step that no borrower should skip. It can help you narrow down your search for a home by eliminating the homes you can’t afford, saving you both time and money. Our Granada, Colorado VA mortgage team can help you prequalify. We will ask you questions about your credit history and income and can even run a quick credit check (with your permission). We will also help you get together the documents that show that you qualify for a VA loan in Granada, CO. Pre-qualifying doesn’t guarantee approval, but it gives you a good idea of what you can borrow if you are approved. It can also help you identify potential problems with your application and reduce unpleasant surprises.

STEP 2: GET PREAPPROVED A pre-approval is like pre-qualification, but it takes the process a step further. Pre-approval verifies certain things about your finances. Pay stubs, employment history, tax returns, proof of real estate holdings, and bank and investment statements will be required for this step of the loan process.

  • Bank/investment statements
  • Employment history
  • Pay stubs
  • Proof of real estate holdings
  • Tax returns/W2s

Once all your documentation has been verified, you will receive a pre-approval letter. It will show that you’ve started the process of applying for a Granada VA loan and will tell how much of a loan you can afford.

STEP 3: FIND A HOME AND MAKE AN OFFER At this point, it’s time to begin your search for a Granada home. You should work with a realtor to find a property that’s right for you and within your price range. Once you find the home that’s right for you, you’re ready to make an offer and work on negotiating a contract with the seller. It is essential that your real estate agent is familiar with VA loans in Granada, CO  and can help you with the contract so that it works to your advantage. Once you’re under contract for a home, your loan officer will order an appraisal for the property. The VA assigns an appraiser to complete the job. Homes have to be move-in ready (with any problems fixed) before the loan closes. The VA has strict guidelines about the condition of homes purchased with a VA loan in Granada, CO.

STEP 4: UNDERWRITING AND CLOSING At this point, the loan underwriter will verify your financial information and make sure that all the paperwork meets the VA’s guidelines for its loans. Once the loan is approved, you’ll set a closing date to sign the necessary paperwork and move in to your new Granada home.

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    Granada (/ɡrəˈnɑːdə/ grə-NAH-də, Spanish: [ɡɾaˈnaða]) [b], locally [ɡɾaˈna][5] is the capital city of the province of Granada, in the autonomous community of Andalusia, Spain. Granada is located at the foot of the Sierra Nevada mountains, at the confluence of four rivers, the Darro, the Genil, the Monachil and the Beiro. Ascribed to the Vega de Granada comarca, the city sits at an average elevation of 738 m (2,421 ft) above sea level, yet is only one hour by car from the Mediterranean coast, the Costa Tropical. Nearby is the Sierra Nevada Ski Station, where the FIS Alpine World Ski Championships 1996 were held.

    In the 2005 national census, the population of the city of Granada proper was 236,982, and the population of the entire urban area was estimated to be 472,638, ranking as the 13th-largest urban area of Spain. About 3.3% of the population did not hold Spanish citizenship, the largest number of these people (31%; or 1% of the total population) coming from South America. Its nearest airport is Federico García Lorca Granada-Jaén Airport.