November 11th – Happy Veterans Day!
Thank you to all who have faithfully served our great nation in the greatest armed forces in the world!
As a Veteran, a small token of appreciation that we can give back to you for your service and sacrifice is an affordable path to home ownership through the use of a VA loan.
One of the best benefits of a VA home loan is the very low costs of out of pocket expenses for home purchasing versus a traditional home loan.
In most cases, a Veteran can purchase a home with ZERO (0) Down Payment!
The video above, presented by Low VA Rates, is a quick presentation of how the VA loan process works. Below is a bulleted list of the highlights from the slides.
· Where and How to start
o Certificate of Eligibility (COE)
o Work with a Realtor familiar with VA loans
o Contact a good VA lender
o Get pre-qualified
o Make an offer
o Get your VA loan done
o Enjoy your dream home
· Certificate of Eligibility (COE)
o Your “Golden Ticket”
o Demonstrates you are eligible for a VA loan and the VA will guarantee the lender
o Must have served honorably for a pre-determined period of time
· Work with a Realtor
o As a buyer you do not pay for this service (It’s Free!!)
§ The home seller pays for your Realtor’s service
o Negotiate on your behalf
o Make sure they have worked with Veterans before
o Much better deal for you
· Contact Mortgage Broker who is a reputable VA lender
o Having an expert VA lender is very important
· Get Pre-Qualified
o Job / Pension / Fixed Income
o Rental history
o Sufficient Income
o Credit History (No FICO score requirement!)
· Make an Offer
o Your second “Golden Ticket”
o Pre-approval makes you legit
o Seller will take you seriously
o Need to get home under contract
o Very exciting time
· Finalize Your VA Loan
o Validate everything from pre-approval
§ Don’t go out and accumulate new debt (no new car, no financing new furniture, don’t lose your job!)
§ Time frame can be 10 days to over a month
· Move Into Your Dream Home
o It is no longer a dream – Keys to your new home!
o Tax Savings
Don't forget to Like and Share this with a Veteran!