Posted on: 24th Jan, 2014 12:58 am
Hello there... May I know how fast will a VA loan get closed? What documents do I need to provide for the same?
VA loans can get closed quite quickly if you meet all the required criteria of the lender. In order to get the loan, you will have to fill out the VA Form 26-1880.
Plan on a minimum of 30-45 days for a loan transaction - it is a little quicker these days because of the slow down and banks are not heavlily burdened with a ton of loans to underwrite - the big unknown on a VA is the appraisal - it must be ordered through VA and they often take up to 2 weeks just for the appraisal - once that is back it shouldnt take more than 25-30 days to close if everything goes well and you provide all documents needed.
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender
Yes, the above posters are correct. After the 2 week time needed for appraisal, it doesn't take more than 25-30 days.
Each lender will be different on their turn times. The appraisal can be completed quickly or can take several weeks. This can depend on your area and can be hit or miss. The documents needed will be requested by the lender so its best to talk to them to find out.
