Thanks to the emergence and growth of America’s modern real estate market and the different financing options that have taken center stage over the years, it’s clear that there’s no better time to buy a home than today.
A few decades ago, there were three or four loan options at best; nowadays, dozens of available mortgage programs nowadays are built to suit a rich assortment of needs. Whether you’re the head of a minimal-income household in need of a new home or a flipper looking to seek quick financing, there is no such thing as a buyer with no options.
Among the different programs and options available nowadays, the one name that stands out above the rest is the humble yet ever-essential Veteran Affairs loan. Suppose you are a veteran or person in active duty looking for a quick, easy, and dependable way to receive financial support for your upcoming home purchase. In that case, this option is well worth considering—but there’s one question that comes to mind: how do you get one?
Why should you opt for VA loans?
VA loans now hold the distinction of being one of the most optimal sources of financing for eligible homebuyers all across the country—and for good reason. These mortgage programs have become well-known for their zero-down payment offers and agreeable interest rates—which is why they’re considered as valuable financing options for every individual in or retired from service.
With a growing range of professionals eligible for such programs thanks to all sorts of various pieces of legislation, more people are finally closing in on their dream of homeownership!
A step-by-step guide to consider
If you’ve heard about VA loans at one point or another, you’re probably sold on the whole idea of using them to get your dream home. However, it’s also important to note that this loan—although exclusive to a specific demographic in America—entails a series of steps with which you must comply:
Step #1: Find a dependable lender to work with
As with any other kind of loan, applying for a VA loan begins with finding a service provider that offers it and starting the application process with them.
Typically, the right kind of service provider to help you purchase your dream home is someone that has the necessary credentials and skills to make the loan happen. With a professional—such as the experts at Desert Heroes Team, for instance—you’ll have the necessary guidance and assistance to ensure that your loan application pans out smoothly from start to finish!
Step #2: Attain your Certificate of Eligibility
At the start of any VA Loan application process, lenders will require applicants to provide their DD-214—which is essentially a Certificate of Eligibility from pertinent government organizations. Once you provide this piece of documentation, you’ll get to go through the remaining steps with little-to-no friction since qualification is one of the most tedious parts of applying for this type of financing!
Step #3: Send in your offer
Once you’ve got the nitty-gritty out of the way, it’s time to get down to business by making your offer (which will determine just how much you’ll need to be lent during your VA loan). With the help of a real estate agent, you can go through a series of negotiations to get the best price possible after an expected array of counter-offers!
Step #4: Go through the motions with your lender
After settling on a final price, you’ll need to go back to your lender since they will follow up by requesting a home inspection, ordering a VA appraisal, and going through all of your income and debts through an underwriting process. At Desert Heroes Team, we usually seek to make this process effortless with a bit of cooperation—so get in touch with us today to learn more about how we can help!
Nowadays, purchasing the home of your dreams is an experience that can be a whole lot smoother thanks to VA loans. These loans can provide a more affordable and convenient opportunity. With the help of this step-by-step guide, you can get started on the application process and get the assistance you need in no time!
If you’re looking for an Arizona real estate agent that can help you buy a house near Luke Air Force Base with a VA Loan, we’re here to help. Get in touch with us today to learn more about how we can help you out!