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How to get preapproved for a VA loan

4 steps to apply for preapproval for this government-backed loan.

Shannon Terrell
Shannon Terrell

Updated

Fact checked
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Veterans Affairs loans offer military members and veterans lending options with no down payments and low interest rates. Getting preapproved can help facilitate the lending process, but you’ll need to know what lenders look for in potential VA loan candidates.

How to get preapproved for a VA home loan

To get preapproved for a VA loan, it requires you to check your eligibility and gather documents, including:

  1. Check your credit. While there’s no set standard for VA loan credit requirements, lenders typically expect VA loan candidates to have a minimum credit score of 620.
  2. Compare lenders. Not all lenders are qualified to offer VA loans. Explore your loan options by comparing a lender’s fees, rates and online reputation.
  3. Get a Certificate of Eligibility. Once you’ve found a lender you like, you’ll need to apply for a Certificate of Eligibility (COE) to verify your veteran status. Apply online, by mail or through your lender.
  4. Gather documentation. Your lender requires a number of documents to complete the preapproval process, including bank statements, W-2s and your Social Security number.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Better.com
(NMLS #330511)
Better.com
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
See rates
More Info
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
See rates
More Info
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
See rates
More Info
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
See rates
More Info
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
See rates
More Info
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Compare up to 4 providers

What questions will I need to answer?

Your lender will need documentation to verify the following:

  • Credit score. While credit score requirements vary by lender, most require VA loan applicants need to have a score of at least 620 to qualify.
  • Employment history. Your lender will ask you to provide pay stubs, W-2 forms and information about your employer to verify your employment history.
  • Income. Be ready to supply tax returns, pay stubs and two months of bank statements to provide proof of income.
  • Debt-to-income ratio. Lenders prefer borrowers with a debt-to-income ratio of 41% or lower.
  • Military status. VA loan applicants must verify their military status in the form of a COE Military personnel must provide their military identification and documentation of their time in service for eligibility. Veterans are expected to provide DD Form 214.

The VA home loan preapproval timeline

Loan preapproval can take anywhere from several days to several months, and longer for veterans and servicemembers trying to secure a Certificate of Eligibility. In some cases, it can take up to six weeks to receive your COE, depending on the application method.

While preapproval letters last for typically 60 to 90 days — your COE never expires. So even if you’re rejected by a lender, you can use your COE for your next application.

What happens if I am rejected?

Ask your lender why your VA loan preapproval was rejected. You may need to raise your credit score or improve your debt-to-income ratio. You can also try applying with a different lender with more lenient loan requirements.

Bottom line

Getting preapproved for a VA loan can help you determine the type of home you can afford and accelerate your path to homeownership. Explore your options among VA loan providers to find the loan that best meets your needs.

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