Timeline of Events
Steps to Owning a State Line City, 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 State Line City, 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 State Line City, 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 State Line City 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 State Line City 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 State Line City, 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 State Line City, 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 State Line City home.
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I received two quotes from popular VA lenders. My wife wanted work with a local company so we reached out to Smart Mortgage Centers based on their reviews. When we received our quote we almost couldnt believe the difference. After getting it in writing we went with Smart Mortgage and the rest is history. Online application was simple and the communication with Jon and his team was flawless. Thank you Again!
Im Paying Less Now Than Rent!
These guys are the best. We now live in our dream home thanks to Brian and the guys at Smart Mortgage Centers. Im paying less now than I was to rent! We couldnt possibly be happier with the service. Brian worked tirelessly on our case until the job got done.
Excellent From Start To Finish!
We had Brian T and he was excellent from start to finish. Even with having to change the closing 3 times because of the sellers he kept us informed of everything that was going on so I wouldn’t have any surprises. I would recommend them to anyone. We had an excellent time especially since we live in Jacksonville and he in another part of Florida.
The Best Experience I Have Ever Had!!!
The best experience I have ever had!!! We were clear to close in less than 20 days. Brian gave us a better rate than everyone else we had talked too and made the process feel effortless! Brain T. thank you for all your help and we are telling everyone we know to come talk you at Smart Mortgage Centers!
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State Line City is a town in Kent Township, Warren County, Indiana, United States, situated along the state’s boundary with Illinois. As of the 2010 census, the town population was 143.
In the mid-1850s, two large railway lines converged on the Indiana-Illinois state line – the narrow-gauge Toledo, Wabash and Western Railway (later the Wabash Railroad), whose route from the east crossed Warren County and reached the state line in October 1856, and the standard-gauge Great Western Railroad, which shortly thereafter reached the state line from the west. State Line City was platted on June 29, 1857, by Robert Casement at the convergence of these two railroads. The city flourished, and within 10 years had reached a population of approximately 550, but because of the drinking and carousing of the numerous railroaders it gained an unsavory reputation.