A VA loan is one of the most valuable benefits available to eligible veterans, active-duty service members, and surviving spouses. Backed by the Department of Veterans Affairs (VA) but issued by private lenders, it helps make homeownership more attainable through flexible terms, no down payment requirements, competitive rates, and the absence of private mortgage insurance (PMI).

Still, the VA loan process comes with its own rules and procedures, from verifying eligibility to meeting property standards. That’s where working with an experienced VA loan specialist can make all the difference. These professionals know the program inside and out and can help you avoid delays, misunderstandings, and unnecessary costs.

In this guide, we’ll cover the key questions to ask a VA loan specialist, what to expect from the process, and how to make the most of your benefits when buying or refinancing a home.

1. What Is Your Experience with VA Loans?

A loan officer may be a great professional, but VA loans have unique rules and procedures that are different from conventional loans. For instance, a VA loan requires a specific appraisal process to ensure the property meets minimum property requirements (MPRs) for safety and sanitation. An inexperienced lender can cause delays and frustration, or even cause your deal to fall through because they don’t understand the nuances of the VA process.

What to look for

• Ask for specifics. Don’t settle for a vague answer like “I do a lot of VA loans.” Ask how many VA loans they have personally closed in the last month or year.
• Check for LAPP approval. A “LAPP-approved” lender (Lender Appraisal Processing Program) has the VA’s authority to process appraisals and close loans in-house. This can significantly speed up your closing time.
• Seek military-focused experience. The best specialists can speak from a place of experience with military life, such as understanding timelines related to permanent change of station (PCS) orders.

2. What Are the Current VA Loan Rates and How Do They Compare to Conventional Loans?

VA loans typically offer some of the most competitive interest rates on the market, often lower than conventional rates. However, rates can fluctuate and vary between lenders, even for the same VA-guaranteed product. A good specialist will not only quote you a rate but will also explain how it was determined.

What to look for

• Ask for the Annual Percentage Rate (APR). Don’t just compare interest rates. The APR includes the interest rate plus other costs, like lender fees and discount points, giving you a more complete picture of the loan’s overall cost.
• Compare apples to apples. When gathering mortgage quotes, provide each VA lender with the same information on the same day. This ensures a fair comparison of terms and rates, as market conditions change constantly.
• Discuss discount points. Ask if the quoted rate includes “discount points,” which are fees you can pay upfront to lower your interest rate over the loan’s life. The specialist should help you determine if paying points is a wise financial move based on your long-term goals.

3. What Fees and Closing Costs Should I Expect?

While VA loans require no down payment, there are still closing costs and a one-time VA funding fee. The VA limits what lenders can charge, but costs can still add up. A clear explanation of all potential fees will help you budget effectively and avoid surprises at the closing table.

What to look for

• Ask about the VA funding fee and exemptions. The fee amount depends on your service history, prior VA loan usage, and down payment size. A good specialist will confirm your eligibility for a fee exemption if you are receiving VA disability compensation or meet other criteria.
• Inquire about seller concessions. The VA allows sellers to pay up to 4% of the home’s purchase price toward closing costs and prepaid items. A knowledgeable loan officer will explain how to structure your offer to get the seller to cover these expenses, potentially minimizing your out-of-pocket costs.
• Request a checklist of closing costs. Ask the specialist for a breakdown of common costs, including the appraisal fee, title insurance, and prepaid expenses. A transparent lender will clearly outline all potential costs.

4. How Do I Get Preapproved, and What Documents Will I Need?

Getting preapproved before you start house hunting is one of the best ways to keep the process on track. It also shows sellers that you are a serious and qualified buyer, which can give you a competitive edge in the housing market.

What to look for

• Verify the process. Ask the specialist to walk you through their preapproval process step-by-step. A good lender will explain the difference between a prequalification (a simple estimate) and a full preapproval (based on verified financial documents).
• Get a specific document list. Ask for a comprehensive list of all documentation you will need to provide. This typically includes your Certificate of Eligibility (COE), pay stubs, W-2s, and bank statements. An experienced specialist can help you quickly retrieve your COE.
• Discuss ways to strengthen your application. If you have a lower credit score (many VA lenders require a minimum, even though the VA does not), ask the specialist how you can strengthen your application by showcasing other financial factors like consistent income and low debt.

5. What Are My Options If I Want to Refinance or Use My VA Benefits Again?

The VA loan is a lifetime benefit that can be used multiple times. A good specialist will not only focus on your current purchase but also educate you on future opportunities to use your VA home loan benefit, such as refinancing or buying another home.

What to look for

• Ask about VA IRRRL and cash-out refinancing. An IRRRL (Interest Rate Reduction Refinance Loan), or “streamline” refinance, is an easy way to lower your interest rate if rates drop. A cash-out refinance allows you to tap into your home’s equity, which can be used to pay for repairs or consolidate debt. The specialist should be able to explain the pros and cons of both options based on your financial situation.
• Inquire about entitlement restoration. Ask how the process works if you plan to move and buy another home in the future. There are different ways to restore your entitlement, and a knowledgeable specialist will explain the best path for your circumstances.
• Ask about the funding fee for refinances. The funding fee for an IRRRL is much lower than for a cash-out refinance. A specialist should clearly explain the costs associated with each option.

Tips for Talking to a VA Loan Specialist

You’ve asked the right questions, but now it’s time to put those questions into practice. How you approach the conversation with a VA loan specialist can make a big difference in the outcome. Being prepared, comparing offers wisely, and spotting potential red flags will help you navigate the process with confidence.

Prepare for the Consultation

Before you pick up the phone, do a little homework to ensure your conversation is productive and that you get accurate information.

• Gather documents: Have your Certificate of Eligibility (COE) and basic financial information (income, savings, debt) ready. This allows the specialist to give you the most accurate preapproval and rate quotes.
• Know your budget: Understand what you’re comfortable spending on a monthly mortgage payment before you begin. A lender will tell you how much you can borrow, but only you can decide how much you should borrow.
• Write down your questions: Jot down the five questions from this article, plus any others that come to mind. This ensures you don’t forget to cover everything and helps you compare answers between different specialists.

Compare Multiple VA Lenders

You’ve earned the right to shop around for the best deal and the best lending partner for your mortgage. Comparing VA specialists means looking beyond just the interest rate.

• Request Loan Estimates: After you apply for a loan, a lender must provide you with a Loan Estimate that breaks down all the costs, rates, and terms. Compare these side-by-side to understand the total cost of each offer.
• Evaluate communication style: The homebuying process can take a month or more. Find a specialist who is responsive, clear, and makes you feel comfortable asking questions.
• Check online reviews: Look for reviews on independent third-party sites like the Better Business Bureau or Zillow. Reviews from other veterans can offer invaluable insights into a lender’s service.

Spot Potential Red Flags

Protecting yourself from bad actors requires paying attention to how they operate.

• Aggressive sales tactics: If a specialist pressures you to make a quick decision or sign documents without careful review, take a step back. A reputable lender will encourage you to take your time.
• Unsolicited offers: Be cautious of anyone who contacts you out of the blue with an offer that seems too good to be true. Scammers may try to promise guaranteed approval or unbelievably low rates.
• Vague answers to questions: If a specialist avoids providing specifics on fees, closing costs, or their experience with VA loans, it may be a sign of inexperience or a lack of transparency.

Factors That Speed Up or Delay the Process

Closing on a VA loan involves several steps, and although the timeline is often similar to other mortgage types, a few key factors can speed it up or slow it down. Knowing what affects the process helps you plan better and avoid unnecessary delays. Staying organized, submitting documents promptly, and maintaining open communication with your lender can make a significant difference, ensuring your loan moves smoothly from approval to closing.

Factors that can cause delays

• Documentation problems: Missing or incorrect paperwork, such as incomplete pay stubs or unexplained bank deposits, is a common reason for slowdowns.
• Appraisal issues: If the VA appraisal comes in low or flags necessary repairs, it can add weeks to the timeline while buyers and sellers negotiate. Unique properties or those in rural areas with fewer VA-certified appraisers can also experience delays.
• Financial changes: Opening new credit lines, changing jobs, or making large purchases after preapproval can jeopardize your financing and cause significant delays.
• Title issues: Problems discovered during the title search, such as liens or unpaid taxes, must be resolved before the loan can close. 

How to speed up the process

• Choose a VA-savvy lender: Look for a lender with deep expertise in VA loans. Their experience will ensure an efficient process, and if they have Lender Appraisal Processing Program (LAPP) status, they can get your appraisal completed faster than lenders without this approval.
• Submit all documentation promptly: Respond to your lender’s requests for information as quickly as possible.
• Be prepared for the appraisal: If you suspect a property might have issues, have a contingency plan in case the VA requires repairs.
• Maintain financial stability: Avoid significant changes to your finances from the time of preapproval until closing. 

How The Lender Appraisal Processing Program (LAPP) Speeds Up The Appraisal Process

The Lender Appraisal Processing Program (LAPP) accelerates the VA loan process by streamlining the appraisal review stage. A non-LAPP lender must send the appraisal report to the VA for review and approval, a process that can add several days to the loan timeline. In contrast, a LAPP-approved lender has a Staff Appraisal Reviewer (SAR) on their team who is authorized by the VA to perform the review internally. This cuts out the middleman and reduces the waiting time significantly.

Direct Appraisal Report Delivery

For a non-LAPP loan, the VA-assigned appraiser sends the report to the VA. For a LAPP loan, the appraiser sends the report directly to the lender’s in-house SAR, who is dedicated to processing appraisals efficiently.

In-House Review And Notice Of Value (NOV)

Instead of waiting for the VA to review the report and issue the NOV (the document stating the home’s value), the LAPP lender’s SAR conducts the review. This internal review process is often much faster than waiting for an external, government-run department.

Expedited Closing Process

With the SAR’s direct review, the lender can issue the NOV to the borrower and move the loan closer to closing almost immediately. This rapid review process is especially beneficial in a competitive market, allowing for a quicker closing that is attractive to both sellers and real estate agents.

Experience And Efficiency

To qualify for LAPP status, a lender must demonstrate a high level of expertise with VA loans and maintain a robust quality control system. This means LAPP lenders are typically more efficient and knowledgeable, helping to avoid common mistakes that can cause delays.

Conclusion

You’ve earned your VA loan benefits through service and dedication, and now it’s time to make the most of them. With the right expert by your side, the homebuying process can feel far more manageable and rewarding. By asking the right questions, you can find a VA loan specialist who understands your goals, simplifies each step, and looks out for your best interests.

Taking a proactive approach when evaluating lenders will help you make confident, informed decisions and secure a home using the full benefits you’ve earned. Speak with a trusted VA loan specialist today to review your eligibility and take the first step toward homeownership with clarity and confidence.

Ready to begin your VA home loan journey? Compare VA lenders near you and find the right fit for your needs.