How Long Does It Take to Get a VA Loan?

Happy family standing next to a for sale sign with a sold stickerAre you a veteran or an active-duty service member eager to obtain a VA loan? Time is of the essence! Understanding the timeline involved in getting a VA loan is crucial for planning your homeownership journey. In this comprehensive guide, we will demystify the process and provide you with insights on how long it typically takes to secure a VA loan. Get ready to streamline your path to homeownership!

What is a VA loan?

A VA (Veterans Affairs) loan is a home loan available to veterans, active-duty service members, and eligible surviving spouses. VA loans are designed to help these groups of individuals achieve homeownership with benefits such as no down payment, low interest rates, and reduced closing costs. The VA does not issue loans but guarantees a portion of the loan made by a private lender, enabling veterans to secure favorable terms and protections.

Understanding VA Loan Eligibility

To qualify for a VA loan, you must meet specific eligibility requirements. Your military service and discharge status, length of service, and nature of service are all factors that affect eligibility. Spouses of military members who died in the line of duty or due to a service-connected disability may also be eligible for a VA loan.

Benefits of a VA Home Loan

The benefits of a VA home loan are numerous. For starters, VA loans require no down payment, meaning that military members and their families can buy a home without saving up for a sizeable down payment. Additionally, VA loans typically have lower interest rates and more flexible lending requirements than conventional loans.

Certificate of Eligibility for a VA Loan

A Certificate of Eligibility (COE) is a document that attests to a borrower's qualification for a VA loan. It is provided by the Department of Veterans Affairs (VA) and shows lenders that a borrower meets the criteria for eligibility for a VA loan.

A borrower must be a current or former military member, the surviving spouse of a military person who passed away while on active duty or as a consequence of a service-connected disability, or a veteran who satisfies particular service criteria to be eligible for a COE. Before a lender can accept a loan, the COE must be acquired, a crucial step in the VA loan application process.

How Does the VA Loan Process Work?

If you're considering a VA mortgage, it's essential to understand the home loan process and how long it may take to get a VA loan closed. While the timeline can vary depending on the VA lender and other factors, closing a VA loan typically takes 45 to 60 days.

However, some steps, such as the appraisal and underwriting process, can take longer than other types of loans. While the VA loan process may seem daunting, it's important to remember that closing doesn't have to take forever. With the right team of professionals supporting you, you can navigate the process efficiently and get the keys to your new home sooner than you might expect.

Applying for a VA Loan

Applying for a VA loan may be simple if you have all the required paperwork and information. The actions you must take to apply for a VA loan are listed below:

  1. Determine your eligibility: You must fulfill specific service criteria to qualify for a VA loan. Obtaining a Certificate of Eligibility (COE) from the Veterans Administration will allow you to confirm your eligibility.
  2. Locate a lender authorized by the VA: Since not all lenders provide VA loans, you'll need to look for one that participates in the VA loan program. You may use the search feature on the VA website to identify authorized lenders in your region.
  3. Gather your documentation. Your lender will need several documents to execute your loan application. A few typical papers are your Certificate of Eligibility, proof of income, credit report, and details of any outstanding debts.
  4. Complete the loan application. Your lender will provide a loan application in person or online. You'll have to supply information about yourself, your financial situation, and specifics regarding the house you're buying or refinancing.
  5. Await approval: Your lender will analyze your application once you've submitted it and the required supporting papers to decide whether to accept you for a VA loan. It's vital to have patience since this procedure might take many weeks.
  6. Complete the loan process: If your loan is accepted, you'll sign the paperwork and complete the loan process. Usually, this entails paying closing expenses like title and appraisal fees.
  7. Begin payments: After your loan is finalized, you must make mortgage payments according to the terms of your loan agreement.

Remember that applying for a VA loan is only the beginning of the process. After your loan has been authorized and closed, you will still need to make regular payments and adhere to any additional conditions in the loan agreement.

Getting Preapproved for a VA Loan

The first step is to apply with a VA-approved lender to purchase a home on a VA loan. A VA loan offers many benefits, including no down payment requirements and competitive interest rates. The lender will underwrite your loan to determine your eligibility and ultimately approve or deny your application.

Once you're preapproved, you can start house hunting. Finding the right home may take a few weeks or months. After you find the perfect home, the loan can be closed. The whole process can take a few months to complete. Use this step-by-step guide to help you understand the VA loan programs and receive a VA loan to purchase a new home.

VA Appraisal Process

The VA requires an appraisal to determine the Value of the home you want to purchase. This ensures that the property meets the minimum requirements and is worth the loan amount. A VA-approved appraiser will inspect the property and provide an appraisal report that details the property's Value.

How Long Does It Take to Get a VA Loan?

The timeline for obtaining a VA loan can vary based on Various factors, such as the lender's processing time and the availability of required documents. However, the VA loan process can typically take 30–45 days from start to finish.

It's important to note that certain factors, such as a complex property appraisal or additional documentation requirements, can cause delays in the process. Working with an experienced VA lender can help ensure the process goes as smoothly and quickly as possible.

Typical Timeline for a VA Loan

The typical timeline for a VA loan is around 30-45 days from submitting your application to closing. However, this can vary based on local housing markets, the lender's processing time, and the appraisal process.

Factors That Can Affect the VA Loan Process

Several factors can affect the VA loan process and contribute to a longer timeline. These include credit score or history issues, additional documentation requirements, or a slower appraisal process due to a busy housing market.

Why a VA loan may take longer

Sometimes, a VA loan may take longer due to issues with the home itself. For example, if the property doesn't meet minimum property requirements, the lender may require additional repairs that can take time.

Alternatively, the VA loan process may take longer if there are delays in obtaining a COE or issues with the veteran's military service record.

What Are the VA Loan Requirements?

Before applying for a VA loan, it's essential to be aware of the requirements that must be met.

VA loan eligibility requirements

To be eligible for a VA loan, you must meet specific requirements, such as a minimum length of service and discharge status. You'll also need a good credit score and meet income and debt requirements.

Minimum Property Requirements for a VA Loan

The property you want to purchase must meet specific minimum property requirements. These include a safe and sanitary living environment, adequate heating and cooling systems, and access to clean water and sewage disposal.

Comparing VA Loans to Conventional Loans

It's also essential to compare VA loans to conventional loans before deciding. Conventional loans typically have more stringent lending requirements and may require a larger down payment. However, they may sometimes have lower fees or interest rates than VA loans.

What Happens at Loan Closing?

Several things happen during loan closing, including:

  1. Loan paperwork review: You will review each loan document, including the settlement statement and the mortgage conditions.
    Payment of Closing Expenses: You are responsible for paying all closing expenses related to the loan, including origination, appraisal, title, and other fees.
  2. Loan funding: The lender will finance the loan, providing the settlement agency with the money they borrowed.
  3. Mortgage Document Signature: You will put your signature on the note, the deed of trust, and other relevant papers that make up the mortgage.
  4. Title Transfer: The seller will hand you the title.
  5. Recording of Deed: The deed will be filed with the county recorder's office to formalize the transfer and safeguard your ownership rights.
  6. Funds Disbursement: Anyone who is due money, including the seller, real estate agents, and others, will get money from the settlement agency.

After each of these milestones, the loan closing is complete, and you become the property's new owner.

VA Loan Approval and Closing Process

Once your loan has been approved and all requirements have been met, you'll move into the closing process. This involves signing all the necessary paperwork and paying any closing fees or other costs associated with the loan.

Working with a Real Estate Agent and Lender

You'll work with a real estate agent and a lender throughout the home-buying and loan processes. The real estate agent will help you find the right home, while the lender will guide you through the loan process and provide financing for the purchase.

Understanding Loan Benefits for Military Members and Spouses

One of the primary benefits of a VA loan is that it provides military members and their spouses with access to homeownership. This Valuable benefit can help military families build wealth and achieve financial goals.


In conclusion, knowing the timeline for getting a VA loan is essential to achieving your homeownership goals. Don't waste any more time. Take action today by reaching out to a VA-approved lender who specializes in assisting veterans. They can guide you through the process and help you navigate any potential hurdles. Start your journey towards homeownership by exploring the timelines and requirements for a VA loan. Your dream home is within reach—take the first step now!