The First-Time Veteran Homebuyer Checklist

A COE confirms the VA benefit record; it is not approval. A prequalification is an early estimate based on information supplied, while underwriting decides the loan after reviewing borrower documents, credit, eligibility, property, and contract. Set both a recurring-payment ceiling and a cash-to-close ceiling before shopping.

1. Request the COE and gather any service records VA requests.
2. Gather current income, assets, debts, housing history, and identification requested by the lender.
3. Budget for earnest money, inspection, appraisal, closing costs, prepaid taxes and insurance, moving, repairs, and reserves.
4. Compare written Loan Estimates using matching price, down payment, term, and lock assumptions.

Discuss the VA escape clause, financing and inspection contingencies, earnest-money deadlines, seller payments, and appraisal timing with the relevant professionals. The escape clause does not replace an inspection contingency or legal advice.

• Identify the intended occupants and confirm the occupancy plan.
• Confirm insurance availability before deadlines expire.
• Ask who pays each proposed cost and how credits will appear.
• Keep enough time for inspection, appraisal, title, underwriting, and required repairs; timing depends on the borrower, property, contract, and requested documents.

The VA appraisal estimates reasonable value and reviews Minimum Property Requirements. It is not a comprehensive home inspection and does not guarantee condition.

• Consider an independent general inspection and relevant specialized inspections.
• Review repair findings with the inspector and appropriate contractors.
• Track appraisal-required repairs and any reinspection.
• Avoid new debt or unexplained fund movements while underwriting is active.

For most covered mortgages, review the Closing Disclosure at least three business days before consummation. Compare it with the latest Loan Estimate and ask about changes.

• Recheck payment, cash to close, credits, fees, loan terms, and funds already paid.
• Complete the final walkthrough and confirm required contract work.
• Verify wiring instructions through a known telephone number for the settlement company, never a number in an unexpected email.
• Bring only the identification and payment method the settlement provider confirms.