VA Loan Process
In this initial meeting/phone call we will do some fact finding and find out what loan options are best for you and your unique situation. We assess if you are VA eligible and if there will be a VA funding fee or not. We are approved with over 40 different lenders nationwide and have access to wholesale rates. We will search the market and do the shopping for you to obtain the best rate based on your credit score and other factors. We pass on those wholesale rates on to you the Veteran. After speaking with us you’ll quickly realize that we are VA Experts. If it is conducive to move forward we will get you a quote right then and there over the phone.
We complete your loan application with you over the phone to ensure accuracy.
With your written authorization we will lock in your new rate over the phone to the exact terms that we agree upon. In most cases our VA Loans are No Points and No Fees (all closing costs are credited).
Are sent out via DocuSign (electronic signatures), via email in a secure PDF or via overnight delivery (your choice)
We send you a checklist of documentation you need to scan, fax or overnight to us. (Documentation is limited on the VA IRRRL streamline program)
Our team of Account Managers and Processors intake your file and set it up to be submitted to underwriting.
We order the appraisal through the VA portal and a VA appraiser will contact you to schedule the best time to appraise the home. You will be responsible for ordering your Pest Inspection with a local Termite company. Be sure to let them know that you are doing a VA refinance and you’ll be looking for a termite report and “clearance” stating that the property is free and clear of any termites, pests, etc. If you need help finding a reputable company try using Yelp or call us for assistance. Please note an appraisal and pest inspection are not required on VA IRRRL’s.
Once we obtain loan approval on your file we will reach out with any missing items that are needed to order your final loan docs.
Before the mobile notary comes over to the home to sign the final loan documents you will review your TRID Closing Disclosure (CD)/settlement statement with your VA Mortgage Loan Specialist over the phone to ensure all the numbers are correct, down to the penny. Your escrow officer will have ordered an updated payoff from your old lender. The notary will call you to setup a time for the signing and we will be available during that time for any questions you may have.
After you sign your refinance documents you will have a 3-day waiting period (3-day right of rescission) then your loan will fund (VA purchase transactions have no waiting period). If you choose to pull cashout escrow will wire your funds to you same day.