Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

First Time Home Buyer Va Loan All Locations : Nationwide Real Estate Advice

  • All723K
  • Local Info60K
  • Home Buying264K
  • Home Selling45K
  • Market Conditions26K

Activity 2,193
Showing results for First Time Home Buyer Va Loan [Clear search]
Tue Mar 26, 2013
Cindy Davis answered:
There are only two loans that I know of that require nothing down The first is the VA loan, and the second is a USDA loan for some rural areas...otherwise, FHA (with 3.5% down) is your best bet. ... more
0 votes 5 answers Share Flag
Thu Mar 21, 2013
Hi Jocelynn,
All loan programs today require a verified continuous 24 month employment history in the same line of work, but not necessarily with the same employer. There are only a very few of exceptions to that rule. Those exceptions are as follows:

1. If you are a recent college graduate, you can use your time spent in college to make up part up the 24 month history. A copy of your college transcripts and your college diploma will be required.
2. If, within the last 24 months, you have had a 6+ month gap in employment, then you must be employed at least 6 months since that gap ended.
3. For someone with a longer break in history, the same 6 month rule is followed, but a full 24 month employment history from previous employers must be verified.

For someone who is salaried or hourly, you generally must be employed at least 30 days with the current or new employer. This is due to the fact that a pay stub reflecting at least 30 days of YTD income is going to be required prior to closing.

If you are paid by anything other than a W-2 (i.e. a 1099, self-employed, etc), then you must have 24 months of receipt of that type of income. Some exceptions are possible if your current employer switched your compensation from W-2 to 1099 or commission.

Closing on a mortgage prior to starting a new job with a new company is only considered on a case by case basis for certain fields. Generally, a non-revocable employer agreement confirming your new salary, position, and start date will be required.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 6 answers Share Flag
Sat Jan 18, 2014
Jamie Skojec answered:
Are you looking to buy or rent?
0 votes 11 answers Share Flag
Wed May 8, 2013
Matt Elliott answered:
I would agree with you on the 5% conventional. It should be less monthly w/out the FHA mortgage premium.

A good, competent lender can help you best.

Will Gaines
First Porfolio Mortgage

If I can help with anything at all during your search, I'd consider it a privilege. I lived in Herndon for 7 years, my office is in Reston, VA.

All my best,

Matt Elliott
Keller Williams Realty
... more
0 votes 12 answers Share Flag
Mon Jul 1, 2013
Scott Riddle answered:
Because agents are lazy and don't follow the mls rules. I apologize for all agents since this gives us a bad name. If you would like I will go get pictures of the home for you.

Scott Riddle

RE/MAX Affinity
239 289 1849
... more
0 votes 20 answers Share Flag
Sat Feb 28, 2015
Gail Gladstone answered:

Pre approval (NOT prequal) should be the very first thing you do...before all else.

Only then will you know what you will realistically be able to handle. ... more
0 votes 14 answers Share Flag
Tue Apr 2, 2013
Jeffrey Masich answered:
Sorry, don't understand the question completely. What are you as the buyer attempting to accomplish, purchase the house after it was canceled? First step is to talk it over with your agent/broker. ... more
0 votes 11 answers Share Flag
Wed Jul 31, 2013
Melissa Reed answered:
We work with some great lenders who offer competitive loan programs for all credit scores. We also specialize in homes in the Buford area. Please feel free to give us a call- The Hill Wood Home Team (678)714-6384 or email us at ... more
0 votes 14 answers Share Flag
Tue Aug 5, 2014
Tim Miller answered:
I know a great mortgage guy. Unsure if he can get you that loan, but if anyone can, it's him. His name is Steve Stork from Summit Funding 248-755-3701. Hope that helps.
0 votes 4 answers Share Flag
Tue Oct 8, 2013
Geoff Ommen answered:
Many of the questions you should be asking your candidates have to do with how they will work with you. Realtors need to be proficient at marketing, negotiating and communicating. Some are much more technologically saavy than others. Just like with any service provider, determine in advance what is important to you. Ask the appropriate questions to get the responses you are looking for. Realtors can cover large geographic areas and multiple units. Someone who is stretched too thin may not be a good fit either.

Some sellers will accept a home sale contingency, but most will not. It completely depends on the situation and how the offer is presented to the seller. If your agent just sends a contract, it has little chance of sticking. If they do their due dilligence and present a good case for the seller as well as the market for your home, you have a better shot.

Geoff Ommen
Broker Baird&Warner
... more
0 votes 11 answers Share Flag
Mon Mar 25, 2013
Ron Thomas answered:
When you think about this question;
Maybe it would better not to think about it.
0 votes 18 answers Share Flag
Sun Aug 11, 2013
Edith Karoline Jasser answered:
Great congratulations you want to buy a home in Rockford Illinois, 3 bedroom with basement and garage. Wonderful.
What you absolutely need to do is connect with a local experienced Buyers Agent, i.e. a Realtor who loves to work with Buyers and is well versed with the local market, he or she will work for you and on your behalf with your best interest at heart, explaining all the details and paying attention to all the details involved from the very beginning up to a successful closing. Buyers agents for properties listed with another real Estate Brokerage are free to the Buyer, as they are paid at the closing by the seller's side, BUT remember you must commit and be loyal to just ONE buyers agent, one you trust and have
a great relationship with and one who understands what you are looking for~
If you need a good recommendation for a buyers agent in Rockford, let me know and I gladly send you
a good recommendation....

Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more or

Check out my website at
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
... more
0 votes 6 answers Share Flag
Fri Mar 22, 2013
Shannon Anderson answered:
if you are asking about buying a home, the answer is no. If you are asking about buying and not having MI, then you should talk to a lender, but my understanding is yes.
0 votes 15 answers Share Flag
Sat Oct 8, 2016
Brian Rickard answered:
Give ma a call and I can give you a list of some lenders that I have worked with before. We aren't a part of the financing piece but they can give you their expert advice and discuss all your options.

... more
0 votes 17 answers Share Flag
Fri Nov 1, 2013
Dallas Texas answered:
Thank you for your services to our country. Cash offers will always win they close faster. Keep looking FHA is the standard loan offered to millions of families in USA

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111 100's of Dallas homes listed for sale or lease

Follow me on Facebook
... more
0 votes 8 answers Share Flag
Fri Jul 12, 2013
Anil Khanna CPA/Realtor answered:
You may qualify for an FHA loan. If you are looking in the DC area, I have a few lenders that can work with you. Please call me at 703-625-6731 or email me at if interested. ... more
0 votes 10 answers Share Flag
Sun Aug 18, 2013
Marlene Bienes-Realtor answered:
The first thing you need to do is hire a buyers agent a free service to u in order for your best real estate interest to be protected.
0 votes 6 answers Share Flag
Mon Mar 25, 2013
Thomas von Zabern answered:
Hi Mary

Most banks will ask for 5% to 10% down, but first time homebuyer programs exist through Mass Housing that allow you to buy with as little as 3% down. I'd be glad to discuss the details with you if you wish.


Tom von Zabern
RE/MAX Destiny
Cambridge, MA
... more
0 votes 6 answers Share Flag
Tue Jun 10, 2014
Scott Godzyk answered:
Not really, if you have a mortgage contingincy and are still within the dates, if the mortgage gets denied becuase it does not appraise, then you may be covered. Keeping an eye on dates is the loan officers job, keeping an eye on the loan officerk is the buyer agents job but keeping an eye on your best interest and overseeing dates such as this is the buyers job as they are the one who pays in the end. ... more
0 votes 13 answers Share Flag
Thu Mar 14, 2013
Ken Allen answered:
Good Evening
I will be happy to help you. I live in South Tampa as well and went to USF. I do specialize in first time home buyers. Please call me at 813-624-3679 and I will be happy to help you through the entire process step by step.
Ken Allen
The Toni Everett Company
... more
0 votes 14 answers Share Flag
1 ... 3 4 5 6 7 ...
Search Advice