For service members and veterans thinking about buying their first home with a Veterans Administration (VA) loan, America's Credit Union can help make that dream come true.

"We encourage applicants to place an application for preapproval prior to shopping for a home," said Traci Frazier, the mortgage production manager at ACU. "This way we can provide guidance and assist with ensuring the file is properly documented prior to the veteran or service member making an offer."

She added that ACU has helped put many happy families and service members into their very first home, or their first home in the Pacific Northwest, and that ACU prides itself on making the financing process informational and straightforward with a focus on clear communication with the borrower from application to close.

The process of securing a loan consists of the applicant using a checklist to gather the necessary documentation and then submitting the preapproval application either in person or on-line.

Applicants must be prepared to show identification, leave and earning statements, two years of W2 forms, and two months of asset/bank statements.

ACU often can obtain an applicant's Certificate of Eligibility (COE) through its VA portal. If ACU is unable to obtain the COE, they will ask the service member to contact the VA.  Those serving in the reserves should contact the VA for their COE. 

"We are always happy to consult and counsel about ways to improve credit months in advance as well," continued Frazier. "After the applicant finds a home and secures a mutually accepted offer, we will order title report, appraisal, and collect any additional items requested from underwriting. Once both reports are complete and underwriting is finalized, we can move to closing."

She added that not only does ACU assist service members and veterans in purchasing a home in today's market but also in the future when it comes time to help them save money on their current home loan or on the purchase of a new home.

Founded in 1954 as the Fort Lewis Credit Union, ACU has three branches on post and another 10 locations located in the area.

"We offer local service, prompt communication and competitive interest rates," said Frazier. "And we are proud of our military heritage and celebrate the fact that veterans still make up a substantial number of our membership."

For more information, visit www.youracu.org.

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