VA Loans
You know about our home loan programs, now you may realize how little "red tape" there really is in getting a VA loan. These loans are often made without any down payment, and frequently offer low interest rates than ordinarily available with other kinds of loans. The application process is not much different than any other type of mortgage loan and if the lender is approved for automatic processing, a buyer's loan can be processed and closed by the lender without waiting for VA's approval of the credit application.
Also, if the lender is approved under VA's Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan on the basis of that review. The LAPP process can further speed the time to loan closing. (VA Pamphlet 26-91-1 August 1993 VA Home Loans)
For more Information about Va loans go to homeloans.va.gov