Benefits of Blaine VA Mortgages
One common financing option for buying Blaine real estate for Minnesota home buyers is available through the VA
This type of Blaine mortgage financing has increased by about twenty
per cent over the last few years due in part to the increasing number of
our Minnesota veterans returning from the service. Additionally with
the loss of other options for zero down payment loans in Minnesota, the
VA offers a benefit that offers eligible buyers a unique opportunity to
buy their home with no down payment.
Many veteran home buyers
misunderstand the fact that they may use their VA mortgage benefit
multiple times. As a result veterans do not necessarily need to be a
first time buyer in order to get VA loans with zero down payment. This
can be a great solution for current homeowners who wish to sell their
home despite having a small amount of equity expected from the sale of
that home. Since they will be able buy their next home with no down
payment with a Minnesota VA loan they can sometimes afford to sell their home without receiving any proceeds from equity in order to buy the next.
veterans should discover two things to see if they are eligible for VA
financing. First they ought to see if they will be eligible for a
Certificate of Eligibility through the VA. They can apply for this
online or more simply right through their Minnesota mortgage banker.
There are several categories for eligibility and I encourage veterans to
check with the VA or to research their eligibility online
VA mortgages require no down payment, there still are closing costs in
Minnesota which the veteran must pay in order to get the loan.
Thankfully, VA loans allow the veteran to negotiate with the home seller
to pay their closing costs. This is a very common strategy to buy
homes today and most home sellers have been prepared to pay this expense
as long as they can arrive at the net sales price they need in order to
sell the home.
Are You Eligible for a VA Loan? Get Preapproved!
second thing a veteran must determine is if they can get prequalified
for a VA loan. I encourage all veterans to talk with a local mortgage
lender to get preapproved for MN VA loans
before we go out shopping for a home. By going through the preapproval
process the banker will review your financial situation to determine if
you meet the requirements for VA financing. This important first step
is usually free and requires no commitment to buy on the part of the
buyer. In fact, many Minnesota VA mortgage bankers will do this right
over the phone.
When searching for Twin Cities suburban homes, consider the city of Blaine as a great possibility. With a very active Park and Rec
department Blaine offers a wide variety of employment as well as things
to do. As a neighboring community to the Twin Cities, the population
of Blaine has more than doubled since the 1980 census. Mostly located
in the County of Anoka, some portions of Blaine can be found in Ramsey county as well. Please take a minute to view this brief video
which is put together by the city of Blaine. If you are thinking about
buying or selling Blaine real estate, please call me for further
If you are a Blaine veteran and want to buy a home
please just give me a call. Whether you currently own a Blaine home or
are looking to buy your first home, VA loans can be a great way to buy a
home in Blaine. With interest rates at record lows combined with
reduced property values many veterans have found smaller house payments
than what they are currently paying for rent!
Sales Executive, Licensed Realtor in Minnesota
Century 21 Premier Group
1660 S. Highway 100, Suite #578
St. Louis Park, MN 55416
With a focus on Twin Cities real estate and surrounding communities.