VA Loan Pre-Approval: How to Get Started?

If you’re a first-time homebuyer using your VA loan benefits, one of the smartest financial steps you can take is getting pre-approved early in the process.

Here’s why: The homebuying journey can feel complex—especially when factoring in military service requirements, paperwork, and mortgage terminology. But VA loan pre-approval brings clarity. You’ll better understand your budget, shop with confidence, and move quickly when you find a home that fits your needs.

Key Takeaways:

• Pre-approval demonstrates financial readiness to sellers and strengthens your offer.
  
• Eligibility is based on service history, credit, income, and other factors.
  
• Pre-approval allows smoother and more efficient homebuying.
  

Understanding VA Loan Pre-Approval

What is it? VA loan pre-approval is a lender’s conditional evaluation stating that—based on the information provided—you’re preliminarily qualified to borrow a certain amount. It includes checks for eligibility, credit, income, and assets.

Why it matters?

• Negotiating Power: Demonstrates sellers that you’re financially qualified.
  
• Faster Closings: Many underwriting steps are completed upfront.
  
• Peace of Mind: Gives you a clear understanding of your budget.
  

Pro Tip: Working with a VA-experienced broker like Be My Neighbor Mortgage will help you avoid common pitfalls by navigating the process with veteran-specific insight.

Step-by-Step Guide to Getting VA Loan Pre-Approval

Step 1: Check VA Loan Eligibility

Before proceeding, confirm that you meet the Department of Veterans Affairs eligibility requirements. According to VA Pamphlet 26-7 (VA Lender’s Handbook), general eligibility includes:

• Minimum active duty service (e.g., 90 days during wartime or 181 days during peacetime)
  
• Certificate of Eligibility (COE)
  
• A credit score—most lenders prefer 620+, though VA does not set a minimum
  
• Stable income with a debt-to-income (DTI) ratio typically below 41%, unless compensating factors exist.
  

Step 2: Gather Required Documentation

Most lenders require the following:

• Certificate of Eligibility (COE)
  
• LES or DD-214 (proof of service)
  
• Recent pay stubs, W-2s, or tax returns (past 2 years)
  
• Bank statements (past 2 months)
  
• Government-issued photo ID and Social Security number
  

Step 3: Choose a VA-Experienced Mortgage Broker

Not all mortgage brokers specialize in VA loans. Selecting one that does can improve your experience and reduce delays.

Why Consider Be My Neighbor Mortgage?

• Licensed and NMLS-registered lender with VA loan experience
  
• Transparent communication and focus on first-time homebuyers
  
• Tailored support for eligible veterans and active-duty borrowers

Bonus Tip: reAlpha offers alternatives to traditional real estate agents to eliminate commission fees. (Example: On a $400,000 home, saving 3% equals $12,000 in potential commission savings.)

Step 4: Submit Your Application

Once your documents are ready, your chosen lender will walk you through the application process. You’ll have to:

• Complete the Uniform Residential Loan Application (URLA)
  
• Authorize a credit report
  
• Upload or provide all supporting documents.
  

Common Mistakes to Avoid:

• Not disclosing all debts or obligations
  
• Gaps in employment history without explanation
  
• Missing or inconsistent documentation.

Step 5: Receive and Review Your Pre-Approval Letter

After your application is reviewed, you’ll receive a pre-approval letter outlining:

• The loan amount you’re pre-approved for
  
• Estimated interest rate and loan terms
  
• Conditional requirements (e.g., appraisal, continued employment verification).
  

Carefully review the letter’s contents and note any expiration date—a pre-approval is typically valid for 60–90 days.

Common Pitfalls During VA Pre-Approval

Avoid these frequent missteps:

• Making large credit purchases (e.g., new car or furniture)
  
• Opening new credit accounts or loans
  
• Changing jobs without consulting your loan officer
  
• Delays in responding to lender communications.
  

Tip: Be My Neighbor Mortgage helps flag these risks early in the process and can provide education to keep your file on track.

Why Consider Commission-Free Real Estate Platforms Like reAlpha?

Real estate commissions can range up to 3% per side in a traditional transaction. On a $400,000 home, that could equal $12,000 paid to the buyer’s agent—typically covered by the seller but factored into pricing.

reAlpha offers buyers the ability to work without traditional agent commissions, potentially saving thousands. Be sure to review all terms and disclosures and consult legal or real estate professionals when comparing service models.

Example (Hypothetical, for Educational Purposes):

• A qualified VA borrower gets pre-approved through Be My Neighbor Mortgage
• Purchases a property through reAlpha’s buyer platform
  
• Potential savings of $10,500 on agent commissions, with a quicker-than-average closing timeline of 25 days (actual timelines and savings will vary based on individual circumstances and agreements)
  

What Happens After Pre-Approval?

Here’s how to stay on track after receiving your pre-approval letter:

• Begin home shopping within your pre-approved price range
  
• Avoid major financial changes (job switches, large purchases, new credit)
  
• Stay in contact with your loan officer for updates and any additional document requests
  

Reminder: Pre-approval letters expire—typically after 60 to 90 days. Stay proactive to update your application as needed.

Conclusion: Your First Step Toward VA Homeownership

Getting pre-approved for a VA home loan doesn’t need to be overwhelming. With the right team—such as Be My Neighbor Mortgage for VA loan guidance and reAlpha as a commission-free buying platform—you’ll be equipped with financial insight and tools for a more efficient purchase.

Ready to explore your options?

Take the next step: Speak to a BMN VA loan specialist to begin your pre-approval today and move closer to your goal of homeownership.

Disclaimer: This content is for informational purposes only and is not a commitment to lend. All loan applications are subject to credit and underwriting approval. Licensing and legal disclosures should always be reviewed by a qualified mortgage professional. Be My Neighbor Mortgage, NMLS ID: 1743790.

FAQs

What is the minimum credit score needed for a VA loan?

The VA doesn’t set a minimum credit score, but most lenders prefer a score of 620 or higher. Some may accept lower scores depending on your full financial picture.

Who is the best VA loan lender?

There’s no one-size-fits-all answer, but top-rated VA lenders include Be My Neighbor, Navy Federal, and Veterans United. Choose based on service, rates, and your unique needs.

Can I use a VA loan with a non-spouse co-borrower?

Yes—with a Joint VA Loan, you can co-borrow with someone who isn't your spouse or another veteran. But VA entitlement and down payment rules will differ, so guidance matters.