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Al and Cal Homes and Community

Using Your Veterans Benefit To Buy A Home

Using Your Veterans Benefit To Buy A Home
 
Using Your Veterans Benefit to Buy A Home.   Probably one of the most talked about GI benefits is the VA Home Loan.   You've  heard about it, but have you thought of it using it?   What is the benefit?            How can it help you?              What's the process?  
 
If you have been following my blog for awhile, it is pretty clear that Veterans are near and dear to my heart.   Al and I are proud members of families with strong ties to the US Military.    Being a veteran myself, I take great pride in helping others obtain their housing needs.   Using the VA home loan is one of those benefits that can help many.    US Veteran
 
Experience tells me that in our area, this is an under used tool by many real estate agents and loan officers.    Why?   Because like anything with the government, there are a few internal twists.  But fear not!   If you hire an experienced agent and have the right loan officer, you don't have to even think of these.       
 
What's the Benefit? 

For purposes of today's blog, we're talking about the VA home loan.   The loan is available through private lenders to Service members, Veterans, and qualifying surviving spouses.   In a nutshell the VA stands behind the loan, guaranteeing a portion of it, eliminating the need for a 20% down payment or in lieu of that, costly private mortgage insurance.    It can be used to buy, build, or refi a primary  residence. 

(There are other housing related programs that will help assist in repairing, retaining, or adapting a personal home.   Stay tuned for future blog.)

 

How Can It Help You?

  • Limited or Zero Down payment
  • No Mortgage Insurance (there is a one time funding fee)
  • Re-Usable & Assumable

 

What's the Process?   The first question to ask is, do you qualify?   In other words are you you a Service member, Veterans, and qualifying surviving spouse?   If the answer is yes:

  • Hire a Realtor experienced  working with and negotiating VA transactions.
  • Get financially pre-qualified by a lender that does VA backed loans.   (Not all banks do.)
  • You will need a COE (Certificate of Eligibility)   The lender can help you with this.
  • Find Your Home
  • Negotiate the terms of your transaction
  • Apply for your loan
  • Closing

 

 

 
In my 26 year real estate career, I am proud to say that have helped many veterans find and sell homes.    Some take advantage of their benefits.   All should at least look into them.     
 
I have experience in negotiating home sales including new construction using the VA home loan.  
 
If you are a vet looking for a home
give me a call!   
 
I promise to go the extra mile for you!
 
Al and Cal Remax Executive Realty

Carol-Ann Palmieri

Al and Cal Realty Group

Remax Executive Realty

www.AlandCal.com

 

Cal@AlandCal.com

 

508-494-9061

 

8 commentsCarol-Ann Palmieri • July 19 2014 05:05AM
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