You are very fortunate to have the ability to ski through the winter and then come to Delaware next spring. I also think that you received some great advise from John Thomas, a lender at the top of his field. I have worked with John before and can enthusiastically say that you will be impressed by the work of his team.
Finally, while you are waiting to transition, if you are unfamiliar with the area, feel free to go to
and start looking at neighborhoods. Have a great day.....................chris
If you are looking to get a VA loan, you first must be an eligible veteran and be able to obtain a Certificate of Eligibility. The VA loan guidelines will not allow you to use "future" money as a down payment on the loan that closes. You must prove the money you are using as "liquid" funds that are available and sourced prior to closing. You can still use 100% financing to purchase then refinance after your home sales.
You must be able to income qualify so we would have to calculate your debt to income ratio to see how much you can qualify for and would have to included your current home's mortgage payment in that ratio unless you sell it before closing.
We cannot use cash reserves as temporary income to qualify. Income that is used for qualifying must have a likely hood of continuing for at least 3 years.
If you would like to discuss your options for a VA loan in more detail feel free to cal my team at 302-703-0727 or you can apply online at http://www.PRMIDelaware.com/loanapplication
John R. Thomas
Certified Mortgage Planner - NMLS 38783
Primary Residential Mortgage, Inc.
248 E Chestnut Hill Rd
Newark, DE 19713