Why Preapproval Matters
Getting preapproved is your first real green light. A lender reviews your info and gives you a preapproval letter that shows the loan type and a rough limit. It’s not final approval, but it carries weight with sellers. You’ll know your price range, you’ll shop with confidence, and you can act fast when you find “the one.”
Prequalification vs. preapproval: A prequalification is a quick estimate based on what you share. A VA loan preapproval checks documents and credit. If you’ll be making offers soon, go with preapproval.
The Simple Steps: how to get preapproved for a va home loan
Confirm Eligibility and Get Your COE
To use a VA loan, you must be eligible as a service member, Veteran, or qualifying surviving spouse. Proof comes through your Certificate of Eligibility (COE). Many lenders can pull it for you. You can also request it yourself. Keep a copy handy; it speeds up everything.
Check Your Credit and Set a Budget
Lenders look at your credit score, payment history, and balances. VA rules don’t set a hard minimum score, but many lenders prefer mid-600s or higher. Don’t panic if you’re below that—strong income, steady history, and cash reserves may help. Set a target monthly payment that fits your life. Include taxes, insurance, and any HOA dues.
Two numbers guide the math:
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Debt-to-income ratio (DTI): monthly debts ÷ gross monthly income. Lower is better.
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Residual income: money left after major expenses. VA loans put real weight on residual income, by family size and region, because it shows breathing room after bills.
Gather Your Documents
Preapproval moves fast when your paperwork is ready. Most borrowers need:
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Photo ID
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Recent pay stubs (about 30 days)
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W-2s and/or tax returns (usually two years)
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Bank statements (two months)
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A list of monthly debts (car loans, student loans, cards)
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Your COE
Self-employed? Expect to add a year-to-date profit-and-loss, a balance sheet, and business returns. Active duty? Your LES and BAH can count as income when verified.