5 Steps to a VA Home Loan

[longknife]

[Don't know where else to post this]

by Kristine @ veteranjournal blog

A VA loan can provide a means for veterans to finance a home with very little out-of-pocket. And, VA backing enables lenders to offer very attractive terms to eligible borrowers. Here are 5 simple steps to get on the road to homeownership with a VA loan:

Read more @ 5 Steps to a VA Home Loan | Veteran Journal | veteranjournal.com

What this DOES NOT INCLUDE are two important things. First, YOU most likely will have to pay for the home/pest inspection. You can ask the seller to do it, but most won't. Then, YOU have to pay to have a VA assessor come and determine the appropriate value of the home – the maximum amount the VA will pay for the property. It the house is selling for a higher price and the seller won't come down – YOU PAY THE DIFFERENCE. So, there is no such thing as a “guaranteed” $1 down VA loan.Be careful and ensure your realtor comes clean on this stuff.

Oh yeah – one more things. You credit score. The VA is very tough on this. If your score sucks, they might try to talk you into paying too much $$$$ to “repair” your scores. Do a little research and you will discover you can do the same thing FOR FREE.

 

[OohPooPahDoo]

What this DOES NOT INCLUDE are two important things. First, YOU most likely will have to pay for the home/pest inspection. You can ask the seller to do it, but most won't. Then, YOU have to pay to have a VA assessor come and determine the appropriate value of the home – the maximum amount the VA will pay for the property. It the house is selling for a higher price and the seller won't come down – YOU PAY THE DIFFERENCE. So, there is no such thing as a “guaranteed” $1 down VA loan.Be careful and ensure your realtor comes clean on this stuff.

Those conditions are typical of any home loan.