Our dedicated team is ready to assist you.
Select a topic below to get started.
Frequently Asked Questions
What is the difference between VA eligibility and loan approval?
An active member of the armed forces or a Veteran of the military may be eligible for
VA benefits. The Department of Veterans Affairs determines eligibility for the VA Loan
program. Loan approval is determined by a lender and primarily based on your income,
debts and credit history. It is possible to be eligible for a VA loan but not approved
for financing and vice versa.
What can I do to help my loan close on time?
It’s important to check MyVeteransUnited
regularly and complete all tasks as quickly as possible. Contact your Loan Officer right away
if you expect a change in your employer, hours worked or salary/hourly rate. Avoid taking on additional
debt such as opening a new credit card, purchasing a vehicle, or putting furniture on a payment plan
until after your home has closed.
Why is it important to get a Preapproval letter before shopping for a home?
Your Preapproval letter shows real estate agents and sellers that you’re a serious buyer.
It is customary for your Preapproval letter to be attached to any offer that you’re
submitting. Once issued, you’re able to customize your Preapproval letter to include
a specific dollar amount and the property address through
MyVeteransUnited.
Why do I have to provide more documents after I’ve been preapproved?
Once you’re under contract, it’s normal for Underwriters to ask your Loan Team for
additional documentation. Their job is to clearly report that the borrower and
home meet all VA guidelines. It is usually much more in-depth than your Preapproval.
When a task requires additional documentation or clarification, it we be updated on
your To-Do List within MyVeteransUnited.
Who’s calling me from the phone number 573-876-2600?
Calls from Veterans United Home Loans will show on your phone as coming from the phone number 573-876-2600. If you would like to be removed from our call queue or have any other questions, dial +1-800-212-5200, and our Client Advocate team will provide immediate assistance.
What is the difference between closing costs and a down payment?
The money a buyer puts toward a down payment becomes instant equity (the portion of the
home’s value that you own) while closing costs cover fees and services for the work
performed by the lender, title agent, and to establish tax and insurance escrows.
The seller may cover some or all of these costs, or they become the responsibility
of the buyer. Your lender will estimate closing costs for you; however, exact numbers
are usually not determined until final loan approval, just before settlement.
What can I do if my appraisal comes in low?
A lender cannot finance a loan above what a real estate appraiser determines the value
to be. Often a seller will lower their sales price to match the appraised value but it
is possible to file an appeal with the VA in the event of a low appraisal. This method
does not commonly lead to a significant change of the original appraised value. As a
buyer, you also have the right to pay the difference beyond the appraisal value,
negotiate with the seller, or walk away from the property.
If Veterans United is not servicing your loan, please contact your servicer for instructions.
What if I have additional questions about the servicing of my loan?
Please contact your servicer or call one of our specialists with questions regarding the serving of your loan.
If your loan is serviced by Mr. Cooper or Cenlar on behalf of Veterans United Home Loans, you can call us or send a Qualified Written Request to:
Mr. Cooper:
PO Box 619098
Dallas, TX 75261-9741
Cenlar:
PO Box 77423
Ewing, NJ 08628
What hours is Veterans United Home Loans open?
Individual loan specialist hours may vary, but we have representatives available 24/7 to answer any questions you may have. Feel free to call anytime at 1-800-844-5560.
