If you served in the military, you are qualified to purchase a home with a VA loan. A VA loan generally offers you better interest rates and a lower down payment than other loan options, which is why many veterans go with a VA loan when they want to purchase a home. Here is how the VA loan process works.

#1 Get Your Certificate of Eligibility

First, you are going to want to access the VA's eBenefits portal in order to obtain a certificate of eligibility that shows that you are eligible for a VA loan. Applying for this certificate online is the fastest way to get this certificate.

Although you don't need to have the certificate in hand in order to approach VA loan lenders, applying for a certificate of eligibility will help keep things moving forward in a positive fashion.

#2 Get Prequalified

While you wait to get your Certificate of Eligibility from the VA, find a VA loan lender and get prequalified for a loan. With the prequalification process, you will share basic information about your income and credit score with a lender. The lender will use this basic information to let you know how much money you prequalify for. Keep in mind that this may not be the amount of money that you ultimately end up qualifying for as this is based on very basic unverified information that you provide; however, it does provide you with a starting price point for your home search.

#3 Contact a Real Estate Agent

Once you are prequalified for a home loan, start looking around for a real estate agent to work with. Keep in mind it could take you a while to find a real estate agent you really like to work with.

You want to find a real estate agent who has experience in the area where you want to purchase a home and who you get along with. Finding a real estate agent will help you move the home buying process forward.

#4 Get Preapproved

While you look for a real estate agent and start the home search, you are going to want to get preapproved for a loan. Preapproval is different than prequalifying for a loan. With the preapproval process, you will have to provide paperwork to back up the income and financial information that you provided the lender with when you prequalified for a loan. This is a more in-depth process, which will result in a preapproval letter you can show to your real estate agent and to any seller to show that you are serious about purchasing a home.

Now that you are preapproved and have a real estate agent, it is a matter of finding the right home and putting in an offer. Once you put in an offer, and the offer is accepted, the home will undergo a VA approval before the loan is finalized.

Contact a company like NRL Mortgage LLC to learn more.