Buying a home with a VA loan is one of the best benefits available to military service members and veterans. The process may seem overwhelming, but it doesn’t have to be. This step-by-step guide will walk you through everything you need to know to use your VA loan successfully.
The VA loan is available to:
Not all lenders are experienced with VA loans, so it’s crucial to work with a lender who specializes in VA loans. A lender like myself can help you:
Before house hunting, get a pre-approval letter from your lender. This shows sellers that you’re a serious buyer and ready to move forward. The lender will evaluate:
Pro Tip: A pre-approval letter can give you an advantage in competitive markets!
Work with a real estate agent who understands VA loans. Some key things to keep in mind:
Once you find the right home, your agent will help you submit an offer. Sellers may not always be familiar with VA loans, so it’s helpful to have a lender who can explain the benefits to them.
The VA requires an appraisal to ensure the home meets its Minimum Property Requirements (MPRs) and is worth the purchase price. You may also choose to get a home inspection to check for any issues.
Your lender will review all documents and make sure everything is in order for approval. Be prepared to provide any additional paperwork they request.
Once your loan is approved, you’ll sign closing documents and receive the keys to your new home!
My Final Thoughts... The VA loan is an incredible tool to help military families achieve homeownership. If you’re ready to get started or have questions, contact me today to begin your journey!
