Timeline of Events
Steps to Owning a Lapel, IN 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 Lapel, Indiana 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 Lapel, IN. 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 Lapel 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 Lapel 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 Lapel, IN  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 Lapel, IN.

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 Lapel home.

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If you’re looking for a personal Lapel VA mortgage experience you’ve come to the right place.  Get the best of both worlds with a designated VA professional plus technology.  What’s even better are the lower rates, no upfront fees and fast closings. 

Rates so low the nations largest VA lenders panic when consumers find out about our Lapel, IN VA Mortgage Rates. Connect with your personal VA Loan Expert by calling 888-208-9797.

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    Lapels are the folded flaps of cloth on the front of a jacket or coat and are most commonly found on formal clothing and suit jackets. Usually they are formed by folding over the front edges of the jacket or coat and sewing them to the collar, an extra piece of fabric around the back of the neck.

    There are three basic forms of lapels: notched, peaked, and shawl. Notched lapels, the most common, are usually seen on business suits, and on more casual jackets like blazers and sport coats.[1][2] Peaked lapels are more formal, and nearly always used on double breasted jackets, but also frequently appear on single breasted ones.[3] Shawl lapels are usually carried by tuxedos and mess jackets.[4]