VA Underwriting Checklist

Posted on February 11th, 2011 by Bonnie Wilt-Hild
Bonnie Wilt-Hild
About The Author
Bonnie Wilt-Hild - As an NAMP® staff writer, Bonnie currently serves as a senior instructor for FHA Online University ( as well maintains a full-time mortgage underwriting position as the Senior FHA DE Underwriter for a major lending institution. With over 25+ years of senior-level FHA/VA Government underwriting experience, Bonnie is considered the "Queen of FHA Loans". If you're interested in becoming a writer for NAMP®, please email us at:

Very recently I had a few students in my VA underwriting class that requested that I provide them with an underwriting cheat sheet of sorts, which they could use when beginning to underwrite VA guaranteed mortgage transactions. I know it’s been a few weeks since the request but better late than never. Below please find a list of the items that an underwriter would want to address when underwriting a VA loan application.

1. _____VA Loan Analysis (IRRRL Worksheet if Streamline refinance)
a. ___VA case number
b. ___Maintenance & Utility Calculation (.14 cents Sq Ft)
c. ___Dependent care expenses
d. ___Residual income guideline and calculations

2. Automated Underwriting finds (Validated)

3. Lender Certification

4. Certificate of Eligibility & DD214

5. Initial & Final typed 1003 & 1802a
a. ___Have the number of dependents been disclosed on the 1003
b. ___Is the VAFF correct

6. _____3 Merged credit report indicating a satisfactory credit history.

7. _____Child care letter if required

8. _____Explanatory statement as required, supporting documentation

9. _____Payoff statement if refinance

10. _____1 month worth of paystubs & 2 most recent tax years W-2 wage statements

11. _____Verbal or full verification of employment

12. _____Evidence of Earnest money deposit

13. _____60 days of asset account statements indicating sufficient funds for closing

14. _____Explanatory statements as required

15. _____Gift documentation if required

16. _____Contract of Sale
a. ___VA Financing Addendum to the contract
b. ___VA Amendatory Language

17. _____Notice of Value

18. _____Appraisal

19. _____Termite Inspection, Well & Septic Inspections

20. _____Final inspection as required

21. _____Disclosures including all VA required disclosures
a. ___VA interest rate disclosure
b. ___Federal Collection Policy
c. ___VA Assumption Notice
d. ___Verification of VA Benefits
e. ___VA form 26-1880
f. ___Counseling Checklist for Military Homebuyers
g. ___Old vs New disclosure (IRRRL)

22. _____VA Case number assignment & Appraiser Assignment

23. _____Clear CAIVRS

Remember everyone, there will be certain situations that will require additional documentation or information based on the case file and you will need to obtain this in addition to the above information. As always, happy underwriting!

SOURCE: Published by NAMP® Publishing Group, a division of the National Association of Mortgage Processors (NAMP) (


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