Home Buying in 23451>Question Details

Lance Pryor, Home Buyer in Virginia Beach, VA

How do I go about learning how do use my VA eligibility? I am a disabled Iraq War Veteran looking to settle down and purchase my first home.

Asked by Lance Pryor, Virginia Beach, VA Sun Feb 17, 2013

Help the community by answering this question:


Lance, that is a great question. My name is Robert Ashburner, Jr. NMLSR 607856 I am a loan officer with Monarch Mortgage. As a first time home buyer in the state of Virginia you have some pretty amazing options available to you. The state of Virginia supports first time homeownership through the Virginia Housing & Development Authority http://www.vhda.com. As you are looking for information about the home buying process you may want to attend one of the FREE first time home buyer education classes sponsored by http://www.vhda.com and facilitated and taught by local industry professionals. The class covers personal finance, credit, role of the lender, role of the real estate agent, the home inspection process and finally the closing. I am actually facilitating and teaching a class next Saturday the 23rd of February, 2013 from 9:00 AM to 3:00 PM. The class will be taught at http://www.beachford.com 2717 Virginia Beach Blvd. Virginia Beach, Virginia 23452 in the training room on the third floor of the show room. If you want to attend next Saturday please simply reach out to me at (757) 652-5851 rashburner@monarchmtg.com to confirm your attendance so that I will have enough FREE First Time Homebuyer Education Handbooks.

Robert H. Ashburner, Jr.
NMLSR 607856
Monarch Mortgage
2809 South Lynnhaven Road, Suite 200
Virginia Beach, Virginia 23452
Office (757) 390-2235
Cell (757) 652-5851
Fax (757) 390-2335
E-Mail rashburner@monarchmtg.com
0 votes Thank Flag Link Sun Feb 17, 2013
Thank you for your service. I recommend you talk with one of the mortgage lenders in this post to get a loan.
1 vote Thank Flag Link Sun Feb 17, 2013
Lance...You've gotten some great answers here. I would certainly take the recommendation of the others here and talk with a lender. The lender is the expert in knowing what it takes to get you approved. They know the ins and outs of qualifing for a home loan. Also if now is not the best time, they will give you pointers on how to improve your situation to qualify down the road. We feel as an industry that the rates are going to stay low. Maybe not as low as today's rates but by history standards, these rates are unheard of. That being said, contract one of these experts or start with your bank. They know how to assist you there. Thanks
0 votes Thank Flag Link Thu Feb 28, 2013

Often, your lender can go online and get what they need for your eligibility. The first thing they will do is see if you qualify. Many people do not understand that, even though you have VA eligibility, you stll have the have the needed credit and source of income. Depending on your disability, you may not have to pay a funding fee. There are many things that you will want to know in advance that will help you along. If you haven't already started working with a Realtor, I would love the opportunity to meet with you and help you through the process. Feel free to give me a call/text 719-3986 or email me.
0 votes Thank Flag Link Mon Feb 18, 2013
Actually VA garanteed loans limits increased for our area. I suggest you contact a lender or bank

Personally I sugest you talk to 703 293-6151 (phil Denfield) , I am a real estate agent and I recomand him. I have no interest in recomanding him. or you talk any lender you wish/ All love to finance VA
0 votes Thank Flag Link Sun Feb 17, 2013
Lance, as you gather information and work on your pre-approval you may also want to get an idea of what is available at http://www.chooseahomenow.com
0 votes Thank Flag Link Sun Feb 17, 2013
First of all; thanks for serving, and sorry about your disability.
We didn't hear things like that in '72.

Go in to your nearest VA office, there is one on Clearfield: They will give you info and advice; that is what they are there for:
You will find that we have a new "funding fee", but that you will be exempt because of your disability.
Have you already gotten your Certificate of Eligibity?
You may hear that that the Navy Federal Credit Union is a good place to look; I was a member once and should have stuck with them. (they serve all 4 branches; although you are probably Navy.)
In some cases, it may be harder to use your VA, because of the restrictions place on the Seller.

Good luck and may God bless
0 votes Thank Flag Link Sun Feb 17, 2013

I as well thank you for your service to our country for that you have earned the ability to use a VA loan to purchase a home – that privilege can be used over and over again. You should also know Ron is correct you will be exempt from the VA Loan Guarantee fee so long as you have and can document a 10% or greater service connected disability rating. Another amazing feature that a VA loan allows you to do is ask for 4.000% of the sales price for pre-paid items and debt reduction plus all reasonable closing cost. What that can mean to you is that a seller can actually pay off some of your debt and pay all of your closing cost making it easier to qualify. When you shop for the team of professionals that will guide you along your journey and especially when shopping for lenders make sure you use a local lender that will process, underwrite and close your loan locally.


Robert H. Ashburner, Jr. NMLSR 607856
Monarch Mortgage
2809 South Lynnhaven Road, Suite 200
Flag Mon Feb 18, 2013
You may want to start by meeting with a lender or your banking institution to see if you qualify for a loan. Then once you find out what you qualify for you can start searching for the home of your dreams. If you need help with then entire process a licensed Real Estate professional can help thru this entire process.

Erika Davis
Atlantic and Pacific Real Estate
757 685 7284
0 votes Thank Flag Link Sun Feb 17, 2013
Lance, I canhelp you with that. Please give me a call at 757-403-5401. Thanks Bob
0 votes Thank Flag Link Sun Feb 17, 2013
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