The
more you know about our home loan program,
the more you will realize how little "red
tape" there really is in getting a
VA loan. These loans are often made without
any down payment at all. Aside from the
veteran's certificate of eligibility and
the fact that the appraiser is assigned
by VA, the application process is not much
different than any other type of mortgage
loan. And if the lender is approved for
automatic processing and the Lender Appraisal
Processing Program (LAPP), as more and more
lenders are now, a buyer's loan can be processed
and closed by the lender without waiting
for VA's approval of the credit application
or for VA to review the appraisal.
Lenders are also able to use VA recognized
automated underwriting systems, such as
Loan Prospector
and Desktop
Underwriter, to facilitate the underwriting
process.
