Utilizing a VA home loan when purchasing a Phoenix home is a fantastic way to finance a property with a low interest rate, with little to no required downpayment.

Purchasing a home with a Phoenix VA loan may seem like a daunting task at first glance, but it is actually pretty simple.

The basic process is as follows:

Find a home in Phoenix you would like to buy and arrange the purchase with the seller.  You’ll then sign a purchase contract conditional upon approval of a Phoenix VA guaranteed loan.

Contact a reputable Phoenix VA home loan lender, present your Certificate of Eligibility, and begin the loan application. Your lender will determine your credit and submit a request to the VA to request a licensed appraiser to appraise the property.

If the determined value is acceptable to all involved parties, and the lender determines that your loan application meets the VA loan requirements, your mortgage can be approved.

You (and co-borrower, if applicable) will then attend the loan closing and sign the related papers. The closing escrow agent will explain all of the documents, along with loan terms, requirements and monthly payment details.

After these steps are completed, you will own your own Phoenix home with a low-interest VA purchase mortgage, with no private monthly mortgage insurance required.

Please note that when the VA receives report of the loan, the Certificate of Eligibility (COE) is adjusted to reflect use of entitlement and is then returned to the veteran. No further actions are required to get your COE back, which just makes the overall process easier for veterans.

A common question from many first time VA applicants is, “How long does the VA loan approval process actually take?” The overall period of time it takes for a Phoenix VA mortgage approval varies depending on the amount of volume the lender has at that moment. It also depends on how quickly the VA borrower is able to respond to documentation requests. Traditionally, getting full approval and closing a Phoenix VA purchase mortgage has been taking between 3 weeks to 45 days. This time-frame is more or less the same as that for conventional loans.

There are some things you can do to ensure your loan process is as quick as possible, such as sending requested documents as soon as possible, working with a knowledgeable VA loan specialist, and making your hours of availability as flexible as you can.

For further advice on how to make sure your loan process goes as fast and smoothly as possible, please read our article titled VA Mortgage Approval – How Long Does It Take?

Questions? Contact David Krushinsky Today!
  • David Krushinsky

    David Krushinsky

    VP · Mortgage Consultant
    NMLS# 202115

  • What's Your Property Worth?

    Find Out Now!
    David Krushinsky


    (602) 456-2195 Email Us

    Thanks again for choosing Reasy Financial!


    Get in Touch

    Contact David Krushinsky

    David Krushinsky

    14100 N 83rd Ave B-230
    Peoria, Arizona 85381
    (602) 456-2195
    NMLS# 202115
    • Zillow

    Send an Email

    X David Krushinsky

    If you have any immediate questions or concerns don't hesitate to give us a call @ (602) 456-2195


    I agree to the following terms & conditions

    I hereby certify that the information given in my submission is complete and correct and is given for the purpose of potentially obtaining a mortgage loan and/or financial services applied for.