Home Buying in 19468>Question Details

Young Jung, Home Buyer in Royersford, PA

first time home buyer... questions questions questions...

Asked by Young Jung, Royersford, PA Wed Oct 30, 2013

currently I live in apartment with my wife and 2 daughters; 2year old and 6month old. I recetly moved to 19468 area because i got a job in collegeville. As I moved around here, I really like the areas and the job. So I am actually looking into buy a house now. I still have the contract with the apt I live in right now until june of 2014.
I am here for advice. Things that I need to look, things that i need to avoid and options that I have. I will most likely use VA loan, my income is 45K a year and thinking about 50K in down pay.
Areas consider, 20-30 minutes driving distance from Collegeville, and have a good school distrcit for my kids.

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2 votes Thank Flag Link Mon Nov 4, 2013
Hi there, VA loans are great choices for veterans to choose because of their benefits and competitive rates. The thing is, you don't have to put a down payment down because VA loans do not require a down payment. If you still want to use that down payment, you should consider a conventional loan. This requires a higher down payment that you are willing to put down and it will likely result in a better rate than the VA loan, but it is up to your preference. Even though your purchase wouldn't be until later next year, it would still be wise to speak with a lender to help you prepare yourself financially when the time to buy comes. Lenders like myself would be glad to speak with you to help guide you through the process of what you should do for the upcoming months. So if you have any further questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Thu Feb 13, 2014
I have used my VA and helped dozens of others use thiers. However with money to put down you may be better off with a conventional mortgage. I recommend you get a superior Loan Broker to work out the amounts for each for your credit history. Don't jump in and if you do use VA ensure your agent has done more than a couple VA loans successfully.
Best of luck Benny Smith, benny@buyahomenow.com, 412-498-7868
0 votes Thank Flag Link Thu Oct 31, 2013
VA loans are a really great program. If you qualify, VA offers loans with no down payment or mortgage insurance which can accelerate your return on your investment. There is never a pre-payment penalty and VA loans are assumable.

Before shopping for a home, I would recommend getting pre-approved for this loan. Pre-approval will let you know how much house you can afford. The lender will also provide you with a pre-approval letter that needs to be attached to your offers. This proves that you are serious about buying that home and are in a position to afford it.

Good luck!
0 votes Thank Flag Link Wed Oct 30, 2013
Welcome to Collegeville, Young! Several things should be addressed since we have some time before shopping for a home. Assembling your "team" - realtor, mortgage banker, title company, etc.- will allow the process to move efficiently and smoothly. This forum doesn't allow enough opportunity to discuss all that needs to be discussed. When you have a moment, message me privately by clicking on my profile. Looking forward to be of assistance. Good Hunting!
0 votes Thank Flag Link Wed Oct 30, 2013
It would be my pleasure to assist you with your questions and to provide any advice you request. I can be reached directly at 610-310-5904 OR email at "neiman1061@comcast.net". I look forward to hearing from you!

Linda Neiman
0 votes Thank Flag Link Wed Oct 30, 2013
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