Buying process
Buying a Chicago home with a VA loan, step by step
Short answer
To buy in Chicago with a VA loan, get your Certificate of Eligibility, get pre-approved by a VA lender, and hire a broker and an Illinois real estate attorney. Make your offer, then complete the five-business-day attorney review and your inspection. The home must pass a VA appraisal, and condos must be in a VA-approved building. Most VA purchases close in 30 to 45 days.
The eight steps
- Confirm eligibility. Check your service time and request your COE, usually through your lender.
- Get pre-approved. Lenders look at credit, debt-to-income and VA residual income. How qualifying works.
- Set a real monthly budget. Include Cook County property taxes, insurance and any condo assessment. Taxes are often the surprise in Chicago.
- Choose a broker who knows VA. They can screen condo buildings for VA approval and write offers sellers take seriously.
- Shop with VA rules in mind. Check condo approval before you fall for a unit. Two- to four-flats work if you live in one unit.
- Offer and attorney review. Under Illinois’s Multi-Board 8.0 contract, attorneys have five business days to review. Your inspection usually happens in this window.
- VA appraisal. A VA-assigned appraiser confirms value and checks the home against VA’s minimum property requirements. What the appraiser checks.
- Close. Sign, pay the closing costs the seller is not covering, and move in, usually within 60 days of closing.
A typical Chicago VA timeline
| Stage | Typical time | What happens |
|---|---|---|
| COE and pre-approval | 1 to 3 days | Lender pulls your COE and credit, reviews income and residual income |
| Home search | Varies | Check condo approval and property condition before you offer |
| Offer accepted to attorney review end | 5 business days | Attorneys negotiate terms; inspection usually happens now |
| VA appraisal | About 1 to 2 weeks | VA-assigned appraiser sets value and checks property requirements |
| Underwriting and clear to close | About 2 to 4 weeks | Lender verifies documents and conditions |
| Closing | 30 to 45 days after acceptance | Sign, fund and get keys; move in generally within 60 days |
Cash to have ready
- Earnest money: paid after acceptance and credited back at closing. VA does not require it, but Chicago sellers expect it.
- Inspection: paid at the inspection, usually during attorney review.
- Appraisal fee: often paid upfront to the lender. The seller can reimburse it as a closing credit.
- Closing costs not covered by the seller: including the buyer’s 0.75% Chicago transfer tax inside city limits. Closing costs in detail.
Special situations
- Buying a home with an existing VA loan: you may be able to take over the seller’s rate. How VA assumptions work.
- Past bankruptcy or foreclosure: VA waits are often shorter than conventional ones. Waiting periods.
- Condo, two-flat or new build: what a VA loan can buy.
- Disability rating: benefits that stack on your VA loan.
Making a VA offer competitive in Chicago
- Lead with a pre-approval from a lender that closes VA loans in Cook County regularly.
- Offer a reasonable earnest money deposit. VA does not require one, but sellers expect it.
- Ask for closing-cost credits in place of a lower price when the seller is firm on price.
- Explain that the VA appraisal is a normal appraisal with a safety checklist, not a reason to fear delays.
Common questions
How long does it take to close on a VA loan in Chicago?
Commonly 30 to 45 days from accepted offer, depending on the appraisal, condo review, and attorney review.
Do I need a real estate attorney for a VA purchase in Illinois?
It is customary in the Chicago area. The standard Multi-Board 8.0 contract includes a five-business-day attorney review period.
How soon must I move in after closing?
VA requires you to occupy the home as your primary residence, generally within 60 days of closing. Deployed service members have exceptions, and a spouse can satisfy occupancy.
Sources
What will your VA funding fee be?
Enter a price and down payment to see the 2026 fee, or check whether you are exempt.
An independent guide. Not affiliated with or endorsed by the U.S. Department of Veterans Affairs, and not a lender. General information, not legal, tax or financial advice.