Veterans United’s application is comprehensive and requires a lot of personal and financial information, which is fairly standard in the industry. It begins with a pre-approval process. Completing this process will give you a quick quote on the mortgage you might qualify for.
Pre-approval takes around 10 to 15 minutes to complete, on average. It results in a soft credit inquiry that won’t affect your credit score. Before beginning the process, make sure you have the following information:
- Branch of military service you’re in (ex. Navy, Coast Guard, Marines, etc.)
- Whether you’re active duty, National Guard, or Reserve
- If you’re currently serving and, if so, where you’re stationed
- Whether you’ve received PCS orders (permanent change of station)
- Zip code or city of the property where you intend to live
- Estimated price range for the home loan
- Property type
- How you intend to use the new property (ex. primary or secondary residence, investment property, etc.)
- Whether you currently own or rent a home
- Current monthly mortgage or rent payment
- Month and year your lease ends (if renting only)
- If you’re a first-time home buyer
- Estimated credit score
- Whether you’ve declared bankruptcy within the past 7 years
- Marital status
- Household gross (before tax) annual income
- If you’re currently receiving VA disability income
- Name and contact information
- Current home address and how long you’ve lived there
- How you heard about Veterans United
After answering all of the questions, create an online account with an email and password. Then, verify the information you’ve submitted. From there, be prepared to answer a few more questions about your household (ex. if you have dependents), how long you’ve served, your pay grade, and so forth.
Based on your initial application, you’ll be given a quote that includes a few loan options – VA and non-VA. The quote will include general loan information, but it won’t specify things like the APR or repayment terms. To get this information, check out Veterans United’s rates page for their current rates. Or, reach out to a loan specialist and ask what you qualify for based on the preliminary application.
For borrowers who want to continue with the process, be prepared to submit additional information relating to your finances, identification, etc. Before being approved for funding, Veterans United will run a hard inquiry into your credit report.
It typically takes 40 to 50 days to close on a VA loan, provided everything is in order with the application and documents.