There are over 21 million military members and military veterans living in the United States. The VA Home Loan benefit is one of the most underutilized or understood benefits available to most military members and veterans. In the past 5 years, just 6% of those eligible used this program. Did you know, in Maricopa and Pinal counties, an eligible person can buy a home up to $424,100 with no money down and no out of pocket expenses? This is an amazing benefit and I want to help you understand the advantages and the process.
The first step should be to work with a real estate professional who understands the process. There is no need to go into this blind. An experienced agent has done this before, and what seems confusing to you will be simple for them
Next, locate a lender that participates in the VA program. You will get "pre-qualified" at this point - that is, find out how big a loan you can afford. Lenders set their own interest rates, discount points, and closing points, so you may want to shop around. Your real estate agent will also most likely have a solid relationship with an experienced lender.
Then you will need a Certificate of Eligibility. The Certificate of Eligibility (COE) verifies to the lender that you meet the eligibility requirements for a VA loan. Learn more about the evidence you submit and how to apply for a COE on the Veterans Administration Eligibility page.
Lastly, you will go out, look at homes with your agent, submit an offer, have that offer accepted, close escrow, usually about 45 days after your offer is accepted and then move into your new home.
Here is a link to another blog I wrote with a little more information on the VA loan process - http://davedion.sreagent.com/blog/Using+Va+Loan+Benefit+To+Buy+A+Home
Author:David Dion Phone: 480-332-5942 Dated: August 22nd 2017 Views: 13 About David: ...