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It is important to remember that prequalify for a VA home loan is merely an estimate based on the information you provide. Loan prequalifying will help you answer the following questions:
How much income do you need to qualify?
How much house can I afford?
Benefit of A Prequalified VA Loan:
- Negotiating Power: Once your loan has been prequalified, you increase your negotiating power. Sellers and lenders can be sure that your offer is valid.
- Looking for House With Confidence: You can look for your dream home with confidence after knowing that your mortgage loan is already approved. Once you have the money, the rest of the process is smooth and easy.
How To Prequalify For VA Loan: The easiest and simplest way to prequalify a VA loan is to contact your local VA loan specialist near you.
VA Loan Eligibility Factors:
- 90 days or more for active duty service during wartime
- 180 days of active duty service during peacetime.
- Employment Stability
- A Good Credit history
- Satisfactory residual income
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The first step in getting a VA loan is to get an appraisal. VA (Veterans Administration) regulates that all appraisals must be done by VA approved appraisers to protect Veterans. You can request a VA appraisal by filing out VA Form 26-1805, Request for Determination of Reasonable Value. 
