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CMG Financial will assist you in obtaining your VA loan Certificate of Eligibility when you begin the process. However, if you wish to do this on your own, you can choose to download the document yourself, complete and mail it to the VA along a copy of your DD214. Form: https://vip.vba.va.gov

You will be required to provide financial information, including income, assets and debts, so that your Loan Officer can determine how much of a loan you can afford. CMG Financial will then issue you a letter stating the loan amount for which you prequalify. Please note that a pre-qualification letter is not an offer of credit or a loan approval. Loan qualification may be subject to change upon verification of income, asset and debt information.

Provide your Realtor with the CMG Financial pre-qualification letter along with the specifics you are looking for. Once you find your home, you and your licensed Realtor will put together a formal contract to the Seller and provide Earnest Money.

Once your offer has been accepted, you have the right to have a licensed inspector review the home for any potential problems or safety hazards. In some cases, you may request repairs to be completed prior to closing the sale.

Your CMG Financial Loan Officer will guide you through the VA loan options available, including fixed and adjustable-rate programs, along with the interest rate and fees to select from. Our goal is to make sure you are fully aware of all of the advantages of each product available.

The loan approval process begins with your completion of a Uniform Residential Loan Application through your dedicated CMG Financial Loan Officer. At this time, you will be asked for a number of supporting documents, most of which are described below. Once your Loan Officer has received your application and documentation, the loan approval process can begin.

Documents required for most VA home purchase loans:

1. Most recent 2 years Federal Tax Returns (all schedules of 1040’s)
2. Most recent 2 years Corporate Tax Returns (if applicable)
3. Most Recent 2 years W-2’s
4. One month’s most recent pay-stubs
5. Copy of Driver License
6. Most recent two-month’s worth of bank statements to source down payment and closing funds (all pages / even blank ones)
7. For all properties owned, please gather:
• Most recent mortgage statement (including home equity loans)
• Most recent homeowners association statements
• Most recent homeowners insurance policy statement

Your CMG Financial Loan Officer has a team of highly experienced Loan Processors supporting your needs as well. The loan processing team is responsible for verifying the accuracy of the information you provide in your application. In addition, they will review your credit report, order an VA appraisal, title commitment and other third-party information necessary to submit your loan into underwriting.

Once fully processed, your VA loan will be submitted into underwriting for a decision. CMG Financial staffs many of the most experienced underwriters in the industry and can typically complete the initial review within 24 to 72 hours. If there are additional supportive documents needed, our underwriter will condition for those items and work closely with processing as well as your Loan Officer to help you satisfy those requirements.

Once the application has been approved and all underwriting conditions have been met, your loan will move on to the next stage. Depending on the state in which the property is located, loan documents might need to be signed and executed by a notary of public prior to funds being disbursed or are disbursed at signing. Either way, CMG Financial is equipped to facilitate both procedures expeditiously so that you can close your new home purchase on-time and without hassel.

Once the title company receives the funding check from CMG Financial, they make the security of the loan a mater of public record. Escrow is now officially closed and you are ready to move in!