Buying Your First Home?
What Took so Long?
Probably because it can feel incredibly intimidating or hard. I've been there and have a pretty good understanding of how difficult it can be.
Section is in Development! Please reach out with any questions.
The Strategy
Look out for my call to come through soon.
Taking a couple minutes to connect is important for making progress and forming a clear plan for going forward.
It's fine if you're not ready to get started in finding a home right away. I'm here for the long-run and want to be of service to you and be able to help regardless of your current readiness.
Look for a call from (480) 246-9363
If I don't get a hold of you, or I don't call you right away, no worries. I will call you, though I do focus on clients I'm currently helping and I do prioritize my family time. Y0' welcome to call me instead when it's convenient or use the contact form below with any specific questions.
Checking Eligibility
Confirm your VA Eligibility
This can seem like a no-brainer, but if you haven't checked before, it's time you do so now. Errors in VA loan eligibility are not super-uncommon, and you'll want to get this fixed ASAP so it's not a hold-up later.
If you fit one or more of the following criteria, you should be able to qualify:
You served 90 consecutive days (~3 months) of active service during wartime.
You served 181 days (~6 months) of active service during peacetime.
You have 6 years of service in the National Guard or Reserves.
You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
If you do not meet any of those criteria or your certificate of eligibility comes back negative, you may still qualify. We may just have to dig a little deeper.
Check your eligibility HERE.
Lending
Speak to a Lender about Loan Eligibility
This is something a lot of people get anxiety about, whether it's a VA loan or not.
But don't stress it. A good lender isn't here to judge your payment history or any delinquencies you may have had or currently have. Such issues are super common.
A good lender is going to really help you understand where you're at financially (don't hide from that!), what your credit strengths and weaknesses are, and help you develop your plan is for going forward.
DON'T! wait until you're ready to buy a home before you "bite the bullet" in speaking to a lender. That can cause lots of unexpected and undesirable delays.
Lenders have many rules they have to follow regarding your loan qualification whether they "like it or not," so it's important to make sure your situation is where it needs to be.
I have several lenders I can recommend, and you can use any lender you'd like.
But my top recommendation for a VA loan goes to Jay and Tana Boersma. They are absolute experts in the field, and have some amazing tools to keep you in the know, including a robust app.
I'm happy to directly introduce you to them, or you can get started right away by visiting their website here.
Fun fact: Many people believe that you need to have a minimum credit score to qualify for a VA loan... Not true, at least as far as the VA is concerned. Each lender sets their own minimum credit scores.
So "failure" with one lender may turn into success with another!
Things to Know
Understanding VA Loan Quirks
Have you ever tried to search online for what kind of home a VA loan will cover? Chances are you found a daunting laundry list of requirements.
Eligibility of a home is determined by the Minimum Property Requirements, and those are checked for during the appraisal process.
Not to worry- the requirements are actually very similar to what is required for a home purchased with a Conventional loan, and even more so like an FHA loan.
The appraiser will be checking that:
-The home is in generally good repair and is livable.
-Utilities and regionally appropriate climate control is serviceable and functional.
Nearly all homes on the MLS will be eligible. This includes single-family-homes, condos, and manufactured homes; although the latter two have additional stipulations you should discuss with your lender.
What sorts of things are different when using a VA loan? Not a whole lot, but let's go over a couple items to keep in mind:
-Termite inspections are required instead of optional. This is a somewhat nominal charge of around $60 or so. If an active termite infestation is found, that needs to be treated for and resolved before your VA home loan can proceed.
-If bedroom windows have bars, they need to have a quick-release mechanism on the inside, or an alternate emergency exit route (like a door!).
That's pretty much it! Most other things are very rare and/or easily resolved. Your Realtor team and your lender team will be paying close attention to catch any issues that may arise and get them fixed ASAP.
...Oh, one other thing that is rare but can stop a VA loan dead in its tracks.
There is a little-known federal registry called CAIVRS that tracks anyone who has a delinquency or who has defaulted on a federal loan, including student loans.
If this is you, even if it no longer shows up on your credit report, you will not be able to get a VA loan until the debt is repaid and cleared.
Getting a Home
Time to Search
Time to Buy
Finally! You've done the prepwork. Now it's time to do the fun part. Picking out your new home!
Okay, so there's still some work left, but it may not feel like it. Whether it's your first home bought or your third, take this chance to envision yourself in your new home and plan exactly what you want to do to make it yours.
We'll keep you up-to-date on your options and help you find a home that meets your location, price, and feature expectations. We'll take you out to see the homes that you want to see, or we can work with your criteria and pick ones to see for you.
Once you've picked out your favorite and are ready to make an offer, we'll provide full guidance on a smart offer that accounts for the value of the home, current market conditions, and your need/desire/ability to be aggressive with your offer.
From there, expect regular updates as we get you under contract, go through the various phases like inspections and paper signing... And we very, very much look forward to handing you your new keys and congratulating you on a new place to call home.
Good luck! Now, let's do this!
Did
Ask away, and I'll get the answers for you.
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