Скачать или смотреть 1 Tri Cities WA Essential Guide to Your VA Loan Entitlement 2024 - Michael Farmer VA Loan Specialist

Buying a home is a significant milestone in life, but it can be especially daunting for veterans who are just getting back into civilian life. Fortunately, there are options available to veterans that can make the home buying process easier, like VA loans. Unfortunately, there are also a lot of myths surrounding VA loans that can make veterans hesitant to use them. I always love to debunk some of these myths and provide valuable information for veterans who are considering using a VA loan. They cover everything from the qualification process to the closing fees and offer advice for veterans who are just getting out of the service. So, if you’re a veteran who’s considering buying a home reach out to me a 20-year retired US Navy Veteran who has used his entitlement several times and also is the SME in everything VA related!
What makes VA appraisals more difficult than an appraisal on a conventional loan?
This is a myth. They’re not harder and often allow more flexibility if the appraisal price comes in lower, you have options!

What exactly is a VA Home Loan?
A VA loan is actually a government-backed loan that’s guaranteed to our veterans or active-duty service members that qualify due to the length of service or the type of discharge that they have. It also could be for any eligible spouses that qualify based on their spouse and how they got out of the military, if they passed away.

How much of a down payment does a VA buyer need to bring to the purchase of a home?
No down payment is required in most cases! But that doesn’t mean necessarily that they come in with no cash, they still do have to have closing costs, and those can be negotiated if need be. Most of the time in this market right now, it’s a hundred percent. Even up to the conforming loan limit… as long as the income and credit qualify, zero down.

What makes VA appraisals more difficult than an appraisal on a conventional loan?
This is a myth. They’re not harder and often allow more flexibility if the appraisal price comes in lower, you have options!

And what about underwriting, is that a more difficult process with VA loans?
It is difficult if you have the wrong lender. I am a Veteran myself who is well versed in VA Loans.

What about compared to other loans do VA loans take longer to close?
Not at all. Nothing on them is longer. We just closed one in 11 days just the other day. Again, it just comes down to that the lender who you work with matters.

How many VA loans can a veteran have in their lifetime?
You can have multiple loans out at a time, depends on your situation. Everyone's situation is unique. If you have a VA out right now, reach out to me and let's crunch some numbers to see how much entitlement you have remaining.

I’ve heard in the past that the seller has to pay the veteran's closing fee is that true?
Falso, that’s just another one of those old myths that gets passed down from generation to generation. Absolutely not true.

Do you have any advice to people getting out of the service right now?
I think my one thing is is that talk about your service. When you go in and talk to a lender say that you’re a veteran. A lot of lenders out there don’t ask because one they don’t know or forget to ask. They don’t want to do it, they’ve got the big misconception that it’s harder too. So, if you are a veteran, if you love a veteran, if you know a veteran, tell them to talk about their VA loan and their service they earned it.

For many veterans, the dream of owning a home can feel out of reach. They may be deterred by the belief that VA loans are too difficult to obtain or come with too many restrictions. However, this couldn’t be further from the truth. VA loans are actually designed to help veterans achieve their homeownership goals and come with a range of benefits. If you’re a veteran who’s considering buying a home, it’s important to understand that VA loans are a powerful tool that can make your dream a reality. You don’t have to navigate the process alone, either. Give us a call today and work with a knowledgeable and experienced lender like us at American Pacific Mortgage Tri Cities.

Lastly thank you for your service!

There are ample opportunities to purchase in a new construction home in 2024 with your VA loan. There is a mass of new construction builders around the Tri Cities such as:

Hammerstrom Homes
Muzzy Custom Builds
Prodigy Homes
ProMade Homes
Infinity Homes
Hayden Homes
New Tradition Homes
Sandhallow
Brett Lott Homes
Urban Street Builders

#VAHomeLoanTriCities #MilitaryHomebuyersWA #VeteranHomeLoanExperts #ActiveDutyHomeLoans #TriCitiesWARealEstate #mikedidmyloan #apmtricities

Michael Farmer, USN (ret).
📲 Email: [email protected]
📲 Call/Text: 425.367.8327

Michael Farmer, nmls #2161015
Licensed in CA, OR & WA
Equal Housing Opportunity
Licensed under the Oregon Consumer Finance Act
Licensed by the Dept of Financial Protection and Innovation under the CRMLA