The VA Loan Summary Sheet

For those veterans who are planning or in the process of using the VA Home Loan Guarantee Program you will want to know the specifics of your mortgage loan. Through the VA Home Loan Guarantee Program you must complete a VA Loan Summary Sheet. This is a form the VA requires of all of the participants in the VA Home Loan Guarantee Program.

The Loan Summary Sheet asks for information such as:

• The VA Loan Number.
• The veteran’s name, date of birth, and gender.
• Social security number.
• Race and ethnicity.
• Entitlement code and amount of entitlement available.
• Branch of service the veteran was or is in.
• Military status.
• The purpose of the loan.
• What type of loan it is.
• The type of mortgage the veteran is getting.
• The type of ownership of the property.
• The purchase price.
• The closing date.
• The reasonable value for the property.
• Energy improvements you plan to make.
• The loan amount.
• The type of property.
• The type of appraisal.
• What type of structure it is.
• The full address of the property being purchased.
• The lender ID number, lender loan number, and lender SAR ID number.
• The veterans financial income information.

All of this and more is required by the VA for any veteran who is planning to use the VA Home Loan Guarantee Program. For more information about the VA's loan requirements, visit the Department of Veterans Affairs website. By supplying the required information on the VA Loan Summary Sheet the VA can then look and see that the mortgage loan company has made a good decision in allowing you to purchase the home, and no predatory lending has taken place. If you have any other questions, feel free to look over our Loan FAQs.