By Richard Smith
Mortgage and Lending with SMP Mortgage, Inc. NMLS# 130562 NMLS# 220593
Financing Available for Houston, Texas VA Home Loans
Houston Texas, VA Loans are made with no down payment, and the seller is permitted to pay closing costs. The rates on VA loans are better than other loan options, and VA loans have no costly monthly mortgage insurance charge. Applying for a VA Home Loan is slightly different than other mortgage programs. The two major differences are the Certificate of Eligibility (COE), and the VA appraisal. I, Richard Smith, your Mortgage Banker, can assist you with obtaining your COE, and I will request the appraisal on your behalf through the VA’s appraisal ordering venue. Once you have made the decision to go with a VA loan, here are the steps to take:
Step 1: Determine If You Are Eligible
We will cover the Proof of Eligibility Process below but in general, the following people are eligible for a VA-Backed Home Loan: * Veterans
* Active duty personnel
* Reservists/National Guard members
* Some surviving spouses
Step 2: Get Started With The Pre-Approval Process
At a minimum, we need you to fill out the Short Application In Order To Start The Pre-Approval Process. Don't worry if there are a few blanks that don't apply. Fill out as much as possible and when we speak, we will make sure we have all the information needed.
Click Here To Start The
Pre-Approval Process
Step 3: Get The Proof You Need To Show You Are Eligible For The VA Loan Program
Among categories A, B, and C below, find the one that matches your situation.
You’ll need a Certificate of Eligibility before you can get a VA-backed loan. This section shows how you can apply for one.
| Category A: Veterans, Active Duty, and Reservists/National Guard Members Who Have Served on Active Duty You can get a Certificate of Eligibility in any of three ways: 1. Apply online. Go to the Veterans Information Portal (http://vip.vba.va.gov) and click on User Registration. Click Here for user instructions for applying online. 2. Apply through us. In many cases, we can obtain a Certificate online in minutes. Check the table below entitled, “Evidence Needed for the Certificate of Eligibility.” 3. Apply by mail. Use VA Form 26-1880. Return it to the address shown on the form. If you can’t print the form, just call 1-888-244-6711 and follow the prompts for Eligibility. Evidence Needed for the Certificate of Eligibility: | |
| If you are: | You need to submit: |
| Veteran (Includes a member or former member of the National Guard or Reserves who was once activated for Federal Service) | DD Form 214; We are required to have a copy showing the character of service (item 24) and the narrative reason for separation (item 28). |
| Active Duty Servicemember | A current statement of service signed by (or by the direction of): the adjutant, personnel office, or commander of the unit or higher headquarters showing: Your full name |
| Category B: Reservists/National Guard Members Who Have Never Served on Active Duty You can get a Certificate of Eligibility in any of three ways: 1. Apply online. Go to the Veterans Information Portal (http://vip.vba.va.gov) and click on User Registration. Click Here for user instructions for applying online. 2. Apply through us. In many cases, we can obtain a Certificate online in minutes. Check the table below entitled, “Evidence Needed for the Certificate of Eligibility.” 3. Apply by mail. Use VA Form 26-1880. Return it to the address shown on the form. If you can’t print the form, just call 1-888-244-6711 and follow the prompts for Eligibility. Evidence Needed for the Certificate of Eligibility: | |
| If you are: | You need to submit: |
| Serving now in the Selected Reserve or the National Guard and have never been activated for federal service | Statement of service signed by (or by the direction of): showing: Your full name |
| A discharged member of the National Guard who has never been activated for federal service | Either: NGB Form 22, Report of Separation and Record of Service, for each period of National Guard service OR NGB Form 23, Retirement Points Accounting, and proof of the character of service |
| A discharged member of the Selected Reserve who has never been activated for federal service | Copy of your latest annual retirement points statement and evidence of honorable service |
| Category C: Surviving Spouses of Veterans Who Died In Service or As a Result of Service You must apply for the Certificate by mail. If your veteran spouse died after service, VA must determine that the death was due to a service-connected disability. Please allow 2-3 months for this process unless you know that the decision on service-connected death has already been made. Apply using VA Form 26-1817. If you can’t print the form, just call 1-888-244-6711 and follow the prompts for Eligibility. Send the completed form to: VA Loan Eligibility Center | |
| If you are: | You need to submit: |
| The surviving spouse of a servicemember who died on active duty | If you’re already receiving Dependency and Indemnity Compensation (DIC), you don’t need to send any documents. If you don’t receive DIC, please send us
It would be a good idea to add a simple signed statement saying that you would like to apply for DIC. If you qualify for the home loan benefit, you probably qualify for monthly payments under DIC. Put the servicemember’s Social Security number on all documents. |
| The surviving spouse of a veteran who died as a result of military service | If you’re already receiving Dependency and Indemnity Compensation (DIC), send us a copy of your award letter. (Generally, you will already have a record on file at a VA regional benefits office.) If you don’t receive Dependency and Indemnity Compensation (DIC), please send us * A copy of the veteran’s DD Form 214 We recommend that you add a simple signed statement saying that you would like to apply for DIC. If you qualify for the home loan benefit, you probably qualify for monthly payments under DIC. Put the veteran’s Social Security number on all documents. |
Step 4: Start Compiling The Documents Needed To Complete Your Loan
To expedite the processing of your loan, please provide the items listed below. If you have any questions, don’t hesitate to call!
Please provide the following as indicated:
2) Statements for all bank accounts, 401(k), retirement, etc., for the past 2 3) W-2’s for the past two years 4) Federal Tax returns for the last two years, all pages (Not State forms) 5) Complete copy of divorce paperwork including settlement agreement (If applicable) 6) Landlord’s name, address, phone, for past two years (If applicable) 7) Address for personnel department if different than work address 8) Rental agreements on all properties (If applicable) 9) Complete copy of bankruptcy paperwork, including discharge page (If applicable) 10) Please include a clear copy of Social Security card and Driver’s license ( Active: Copy of Current “Service Statement” (obtained from base personnel or online) and PCS Orders to Texas 12) Copy of VA Certificate of Eligibility (or fill out VA form 26-1880) and fax to me. If you are applying for refinancing or secondary financing: 13) Please enclose a copy of your homeowner’s insurance declarations page and a copy of your current mortgage payment coupon.
1) Pay stubs (LES) to cover the last 4 weeks (if co-borrower, please include as well)
months. (Please include all pages).
11) Not Active: Please include copy of DD214 if not currently active
In some cases, we may need additional information. If so, someone from our team will contact you. Please feel free to contact us with any questions!
Register to our Online Home Buyer Workshop "20 Things You Must Know Before Buying a Home"! Click HERE
Fax: 281-840-6881 Email: richardswf@gmail.com
Phone: 281-994-4240
