The military, navy, and air force are the backbones of the nation, protecting it during turbulent times and safeguarding citizens from external threats. To help army veterans serving in these departments, the government introduced VA loans. These low-interest loans help veterans and even service members and their spouses buy homes with minimal or zero down payment. But when applying for a VA loan, one should avoid certain mistakes to ease the process.

Overlooking closing charges
Although VA loans don’t require a down payment, one must pay closing costs. Closing costs include the charges for developing and underwriting a mortgage, insurance, taxes, commissions, etc. The total amount can range from one to five percent of the total property price. So, one should always check for such overhead charges when applying for a VA loan.

Not securing one’s Certificate of Eligibility early on
Failing to secure one’s Certificate of Eligibility (COE) in time can delay the loan approval process, and there are even chances of the loan being rejected. That’s why it’s best to pull out one’s COE early, ideally before starting the application process, so there are no delays.

Failing to consider the credit score
While the approval process for VA loans is much easier than that for other home loans, creditworthiness is still an essential aspect. So, individuals should check their credit reports and try to maintain a satisfactory score to increase their chances of loan approval. Some best practices for improving one’s credit score are paying credit card bills on time, maintaining a balanced credit utilization ratio, and retaining old cards.

Booking a home without home inspection
Home inspection helps detect problems with a home before buying it. One can ask the builder to get any issues fixed beforehand or look for other options if the damage is beyond repair. Defects tend to go unnoticed when one skips the home inspection, which can cause one to incur significant expenses eventually.

Not consulting an experienced real estate agent
When applying for a VA loan, one should consult a real estate agent who understands this type of loan well. Essentially, to be eligible for a loan, the home one buys should fulfill certain requirements. An experienced real estate agent can help find the ideal home and get one’s VA loan approved without hassle.