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Rob Phyle's Blog

By Rob Phyle | Agent in Apple Valley, MN

Buying Apple Valley Homes With A VA Mortgage

Apple Valley VA Financing

One increasingly common mortgage option in Apple Valley for Minnesota home buyers is available through the VA. This type of financing has increased nationally by about 20% over the last couple of 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.

Apple Valley VA Loans: Not Just For First Time Home Buyers

Many Apple Valley VA home buyers misunderstand the fact that they may use their VA financing benefit multiple times. As a result veterans do not necessarily need to be a first time buyer in order to use their VA benefit. This can be a perfect solution for veteran's who own homes and who want to sell their existing home to buy another but who don't have a lot of equity in their home. Since Minnesota VA loans do not require a down payment they can more easily sell their home despite receiving no proceeds from the sale.

First Step for Apple Valley Vets: Determining Eligibility

Veterans must determine two things to see if they are eligible for VA financing. First they must see if they are eligible for a Certificate of Eligibility through the Veteran's Administration. They can apply for the Certificate of Eligibility online or even just through their Minnesota mortgage broker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online

While VA mortgages require no down payment, there still are closing costs in Minnesota which the veteran is responsible for. To address this issue, the VA allows the buyer to negotiate with the 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!

A second thing a Apple Valley veteran home buyer should determine is if they qualify for mortgage financing. I encourage all Minnesota veterans to get preapproved for Minnesota VA loans before we go out hunting for Apple Valley homes. By going through the preapproval process the banker will review your financial scenario to determine if you meet the requirements for a VA loan. This important first step is usually free and requires no commitment on the part of the veteran. In fact many MN VA lenders will do this right over the telephone.

Apple Valley Community Info

The city of Apple Valley, MN was named in 2010 as as one of the top 20 best places to live in America.in the top twenty of best places to live in America. With over 49,000 occupants, the community of Apple Valley has more than doubled its population over the last thirty years. Located in northwestern Dakota County, Apple Valley first time home buyers can benefit from the Dakota County first time buyer program With a well-developed Parks and Rec department it seems there is always something to do in Apple Valley, MN. If you are looking to buy or sell Apple Valley real estate please do not hesitate to give me a call!

Apple Valley Veterans: Are You Ready To Buy?

If you are a Apple Valley veteran and want to buy a home please just give me a call. Whether you currently own a Apple Valley home or are looking to buy your first home, VA loans can be a great way to buy a home in Apple Valley. With rates at record lows combined with lower property values many veterans have found smaller house payments than what they are currently paying for rent!


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale

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