2024 VA Loan Homebuying - Here's a List of Docs You Might Need

Hey guys, Jimmy V here, mortgage originator, specializing in VA loans. And today I'm going to get you right away when it comes to utilizing your VA home loan benefit in all of the documentation that you need in order to put rounds down range using this glorious benefit that we call the VA home loan. Good to go. So you're getting ready to purchase a home. You want to have everything on file. You want to be prepared in advance so that way when you speak to me or another mortgage loan originator who specializes in VA loans, it's extremely important that you work with somebody who's knowledgeable and proficient when it comes to the VA loan benefit. But having all of the documentation needed in advance and upfront is going to help you get to homeownership, that destination on time and making sure that really there's no hangups along the way. Good to go. So I'm going to write this list down, keeping in mind that this list can vary, but this is a good general overview. Obviously it's going to be a case by case basis, but think of it like this, super simple, super easy ways, the rule of two. So we're going to write this down. Two years of, you ready for this? W-2s. Okay. Making sure that if you are a salaried wage earner or paid hourly, you're always going to need two years of W-2s. Now if you receive retirement income, this is going to be considered two years of what we call 1099s. Okay. So this would be things like social security benefits. So if you have any retirement income, social security, it's going to require two years of 1099s. Now again, if you are a wage earner, the last two consecutive pay stubs covering a 30 day period. So I'm going to write that down. Two pay stubs covering a 30 day period. Now we also have to request your last two months of bank statements, all pages, even if the page is blank. So you know that form that says this page is intentionally left blank. It's like, yeah, we need that too. Two months of bank statements as well. Now keeping in mind, there's a couple of additional forms and you guys have likely heard me talk about this before, but your DD-214, some lenders may not ask for this, but I always think it's a good idea to have it on file and prepared just in case they do. But lenders going to make sure on Vox 24 that you have been honorably discharged from the military to request a specific form called ACOE, the Certificate of Eligibility. Good to go. So the Certificate of Eligibility is a simple form that the VA issues that states that you are eligible for a VA loan, ensuring that you still have to get, well, pre-qualified by somebody like myself, a mortgage originator who specializes in VA loans. COE can be obtained a couple of different ways. You can actually get a copy and log in, download it, retrieve it there. So that way somebody says, how did you have all of this on file? It's like, well, I spoke to Jimmy V and Jimmy V got me squared away in advance and upfront. Or the mortgage originator, who once again, specializes in VA loans, can request a copy of it through something called a WebLGY portal. We can actually retrieve it for you instantly. Really not a lot of hard work. Kind of a general idea of some of the things that'll be needed. There could be additional requests based off of your specific scenario, keeping in mind, well, we also still need a copy of your, we want to see your beautiful face photo ID. My writing is terrible, but I still think you guys are hopefully able to follow along. So that's just kind of a general overview. Oh, and I almost forgot. If you're a service-connected veteran, the lender's always going to request a copy of your VA service-connected disability award letter. So I'm running out of room. Where can I write this down? Maybe up at the top, I'm going to say VAD award letter. Make sure that you are providing that as well, but here's the reason. If you're service-connected, you are actually entitled to have additional VA benefits waived on your VA loan. In other words, you are saving money because you don't have to pay something called a VA funding fee. This is literally going to save you thousands of dollars in unnecessary fees, expenses, and additional interest throughout the duration of the loan. I almost forgot. If you guys found that this information was of value and I earned it, would you consider showing your love, clicking like on the video? As far as I know, this is one of the only places that veterans can ask a mortgage originator who specializes in VA loans specific questions about their VA home loan and we will get them answered for you. No cost, no expectations. Just know that we're here to be a valuable resource for you. Good to go. My name is Jimmy V. You can always reach out to me, Jimmy at VALoans4Vets.com. Thanks so much. We'll talk to you soon.