We owe so much to those who have served our country. The very least we can do is help make the home buying process easier for these heroes. Here’s a short list of tips for veterans looking to buy a home.
Before we get into extra little tips, here is a big one: VA loans were created with you veterans in mind. There are many different opportunities available with these loans, so you’ll definitely want to take advantage of them.
Info on VA loans:
Loan Limit: $417,000
Loan is guaranteed by the federal government
$0 down options (based on Certificate of Eligibility)
No Private Mortgage Insurance required
Eligible for seller concessions of up to 4% to help pay for closing costs
No prepayment penalties
Want to see if you qualify for a VA loan? Contact Parker Turk at Sun American Mortgage Company today! 602-616-3774.
Have any other questions? Call/Text us (Brad and Steve): 480-373-8755
When you’ve found a home you’re interested in, the home must be approved by an appraiser, and with VA loans, some of the standards can be more strict. Keep this in mind as you’re looking for homes, and try not to fall too much in love with any particular home. We can help you get a decent idea of what an appraiser is likely or unlikely to approve as we’re house hunting.
If homes need certain repairs done to pass the appraisal, let us work with the seller’s agent to make a deal. Sometimes small fixes need to be made in order for the loan to get approved, and it’s possible to make a deal with the seller to get it fixed.
Work with your agent on making an offer. You want the offer price to be within the loan amount you’ve been approved for, but you also don’t want to offer more than the homes is actually worth. We’ll work to get a good offer on the table that’s fair to you and the seller.
Get your finances organized. (Click here to read some tips on knowing how much home you can afford.) There may be different demands on veterans before they’re approved for a loan. Click here to see Realtor.com’s tips on preparing your finances.
You will always be eligible for a VA loan. It’s not a one-and-done type thing. If you bought a home 5 years ago with a VA loan, you can buy a home this coming year with a VA loan too.
Click here to read the Veterans United article on VA loan tips. And click here to see this Realtor.com article on more tips for Veteran home buyers.
Are any of you veterans ready to buy? CALL/TEXT us today! 480-373-8755
Thank you for your service! Now let us serve you!
If you want to learn about some financing options, or if you’re looking to get pre-qualified, contact Parker Turk at Sun American Mortgage Company: 602-616-3774.