a. Which Loans are Submitted for Prior Approval? (continued)

Note:  VA Form 26-8937, Verification of VA Benefit-Related Indebtedness, will indicate whether the veteran receives VA nonservice-connected pension or has been rated incompetent by VA.  See “Debt Related to VA Benefits” in section 6 of chapter 4.

b. Before Requesting Prior Approval

Before submitting the loan documents to VA for prior approval

·   establish the reasonable value of the property (appraisal)

·   underwrite the loan (See Chapter 4), and

·   ensure active duty members receive counseling using VA Form 26-0592.

c. How to Request Prior Approval

Submit the following documents to VA in the order listed.

Order

Document

1

Lender’s cover or transmittal letter (if used).

2

VA Form 26-8320, Certificate of Eligibility or VA Form

26-8320a, Certificate of Eligibility (Reserves).

3

URLA (Uniform Residential Loan Application) with revised VA Form 26-1802a, HUD/VA Addendum to URLA.

·   These forms must be signed and dated.

·   These forms must be properly completed and legible, but do not have to be typed.

4

Interest Rate and Discount Disclosures Statement.

5

VA Form 26-0592, Counseling Checklist for Military Homebuyers, if applicant is on active duty.

6

VA Form 26-8937, Verification of VA Benefit-Related Indebtedness (if applicable).

7

VA Form 26-6393, Loan Analysis.

8

All original credit reports obtained in connection with the loan and any related documentation.