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Does this sound right?
So we sent in our info for our preapproval(VA LOAN). Well the person we are dealing with sent me an email saying that it is on the underwriters desk! I am confused because we haven't found a home, (haven't even seen a home yet) we don't know what we are qualified for, or anything. I mean aren't we suppose to get a preapproval, find a home, and then go thru an underwriter? Am I crazy?
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Posted 3/30/11 10:45 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: Does this sound right?
yes, that's correct.
That's why a preapproval holds so much value when buying a home/putting an offer in than a prequal (which anyone can get).
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| Posted 3/31/11 9:42 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Does this sound right?
After you send your paperwork in to the VA, you'll get an authorization letter stating that you are allowed to purchase a home under the VA.
You'll need to provide that after you find a house and start the mortgage process. It will be one of the letters they'll request.
If you have any questions, let me know, we bought our house with a VA loan 2 years ago.
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| Posted 3/31/11 9:48 AM |
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