That's great that you qualify for your VA certificate, it is a great program for our veterans. But the certificate is only the 1st step, you need to shop around and find a lender that writes VA loans and become pre qualified financially. Once you have gotten the dollar amount that you qualify for then start shopping for you new home.
Keep in mind that a VA mortgage is owner occupied.
Depending upon the region and neighborhood that you are seeking to buy, a VA loan for the buyer is a good opportunity however, in some markets Seller's will shy away from a VA loan which is basically 100% financed.
Ask your agent if recent sales were mostly financed or cash. In a cash market financed transactions are challenging to have accepted by Sellers especially if a multiple offer situation. For example, in east Hillsborough FHA and VA are common financing methods. However, in Sarasota county 66% of the transactions are cash.
A VA loan is a guaranteed closing. Some new home builders work with VA loans. Best to connect with an experienced agent or one certified in military clients.
Brock Realty Inc.
Visit http://www.brockrealty-inc.com where you can sign up for a FREE Listing book account which allows you to search the MLS in real time and receive morning reports on new listings, current pendings and recent solds.
Personally, I believe VA loans are the best type of loan out there. In regards to financing they require 0% down. Many of my clients are Veterans and have been able to recieve tremendous benefit from these loans. First off I would contact a lender that does VA loans and have them review my information so that you could attain a pre-approval letter. The lender will be able to tell you how much money you qualify for based up on your debt to income ratio. Once I have that letter I would reach out to a realtor to begin to search for your new home.
I am a Senior Loan Officer here in Tampa FL and would love assist you in getting you into the home of your dreams. Please feel free to visit my website where you can request a quote or contact me via 813-316-2172
Senior Loan Officer | NMLS# 1001484
4010 W. Boyscout Blvd. Suite 600, Tampa, FL 33607
Direct 813-316-2172 | Fax 877-813-7519 | Toll Free 800-930-7334 Ext. 1477
Number one, you need to make sure the VA Loan is the best option. I do VA loans and I used my VA benefit years ago, but would not use it twice for a few reasons.
Go to http://www.pro-option.com and then contact me so I can tell you the down side of VA loans and possible options.
Now get in touch with a Local Realtor, many fine ones
responding to this question and then start looking for your home.
Once you find a home you like with your Realtor you will make
an Offer, accompanied by the VA Certificate.
Again congrats on getting through a tough first step and setting yourself
in the right direction by asking the right question.
you start looking for a home in the area you want to live, using a Realtor. The Realtor can give you the names of a few mortgage lenders that do VA loans, and that the Realtor works with. Please make sure that the Realtor you are working with, is working for you, and not just a transaction broker.
Let me know if we can be of help.
We look forward to working with you on your VA home loan and thank you for your service!
Bart Gabe - Lending Since 1987
800 315 8803
NMLS# 20743 - my licensing information
http://www.nmlsconsumeraccess.org/ - link to look up my license number
VA guaranteed loans allow 0 percent down payment among other advantages. The only real hurdle for VA buyers in this seller's market that is if significant closing cost concession is needed from an owner. If you can keep your request for closing cost concession to a minimum (just enough to cover closing fees that VA will not allow you to pay), successful negotiation would be more likely.
If you plan to buy in Hillsborough County, you might want to check out some of the local Government assistance allowances available for first time home buyers, and/or former and current military personnel. Review websites like https://www.hillsboroughcounty.org and https://www.hillsboroughhfa.org
Should you decide to live in nearby Pinellas County, there are several available homes purchased with Neighborhood Stabilization Program Grant funds and currently owned by the Pinellas Community Housing Foundation, Inc. Proud Ground Pinellas offers quality homes at incredible prices. The homes are part of the Pinellas Community Housing Foundationâ€™s Land Trust.
The purchase price of a home in the Land Trust is significantly lower than market value. Homeowners enjoy the same benefits of homeownership â€“ for less money! A modest lease fee for the land is paid to the trust and the property remains affordable for future generations to enjoy.
The homes are remodeled, many with energy efficient improvements and hurricane protection features. The sale of these homes is restricted to qualified veterans and active duty personnel (and in some cases surviving spouses) and is subject to income and land use restrictions. Please review this website for more information about Proud Ground Pinellas: https://www.pinellascounty.org/community/proudgroundpinellas.htm
The financing for eligible persons is provided through approved lenders utilizing VA home loan guaranty or FHA insured loans. Loans are offered at prevailing interest, 30 years fixed. Seller will pay up to $2,500.00 toward buyers closing costs covering pest inspection, tax service, appraisal, survey, recording fees and transfer taxes. If you have any questions about this unique program in Pinellas Counrty, please call me at 727-541-3743.
Darla Schroeder, Realtor, GRI, CIPS, e-PRO, ABR, *FMS
*Florida Military Specialist
As active duty or prior service, you likely know what the 6Ps are:
As a VA buyer, you will be at a DISADVANTAGE right from the get go as sellers and listing agents will avoid selling to VA buyers, but only because of all the extra hoops and potential costs they have to deal with when selling to a buyer using a VA loan.
So....You DO NOT want to ride into ride into battle on a worn out 70 yr old donkey, swinging a butter knife with a trash can lid as a shield! You want to ride into this market in a M1 Abrams Tank, with armor piercing ammo and port and starboard 50 cals a'blazin!
Its a 2014 real estate combat zone here in this Tampa Bay market, so getting Pre Approved with a legit Pre Approval letter and knowing what all extra savings you could obtain in advance is what you need to do.
Contact me today if you'd like to talk about strategies
Pro Option Mortgage/ Florida
Prior Service: U.S. MARINE CORPS
My VA lender has been closing loans from contract acceptance to closing table in 28 days. If you would like his contact info drop me a quick note at AVegaPacheco@aol.com
I personally do not work the Tampa area, I'm in the Disney/Kissimmee/Davenport side.
Everyone here is correct however you need to contact a mortgage broker versus going to directly to just one specific lender/bank like BOA or Wells Fargo. With a mortgage broker your credit score is checked once but they then shop the entire market to find you the best interest rate, payment options, loan terms, and so on. I would recommend Joe Andrews with New Penn Financial to do this with you. I closed over 30 properties last year and Joe was a big reason why my buyers were able to close on properties quickly.
Once you have a mortgage broker and are pre approved then the fun begins. I would recommend sitting down with you to determine what you want in a home and what areas you like. If you aren't working with a Realtor then contact me and we can get you started.
Also I can email you my mobile search app that will allow you to search on your phone and we can communicate directly through the app as well as by phone and email. Being able to communicate quickly with your Realtor and move on a property quick is key in our market since the housing supply is low.
I hope this helps point you in the right direction and I look forward to hearing from you soon.
Cody Powell, Realtor
CDPE, CIAS, LCAM
J. Powell Enterprises LLC
Jenny Minor, MBA
Homeward Real Estate