Peoples Broker Realty
George Goulas, Peoples Broker RealtyPhone: (508) 509-3833
Email: [email protected]

VA Loans for First-Time Homebuyers: A Basic Guide

by George Goulas 08/24/2022

If you've served in the U.S. military, a VA loan might be an excellent way to finance your first home. If you're interested in using this benefit, it's important to know the steps involved. Here is a basic guide to buying your first home with a VA loan:

Get Your Certificate of Eligibility

A certificate of eligibility from the VA shows you meet the requirements to apply for a VA loan. These could be either personal military requirements or surviving spouse requirements. While you won't need this document until it's time to close on the loan, it's best to get it as early as possible to avoid paperwork delays.

Compare Lenders

Comparing lenders when applying for a mortgage is especially important if you're wanting a VA loan. Not every lender offers VA loans, and some who do specialize in a specific type of loan or type of client. Find a lender who offers first-time buyer benefits to veterans through your state.

Prepare Cash

VA loans don't require down payments, but it's still important to prepare some cash to pay for other expenses. Some of these costs include the earnest money deposits and moving expenses. You can also increase your odds of approval if you have strong cash savings, as lenders use this as a determining factor in your loan application process.

Find the Right Agent

Finding a real estate agent who has experience working with military clients will benefit you in many ways. It also pays to find an agent who has worked with first-time homebuyers and can help you navigate the system with confidence. Try interviewing a few agents and asking about their prior experience and expertise. It can also help to inquire about any special training or certifications they might have received for working with military clients.

Buying your first home can be stressful, but if you're a military veteran, you have great opportunities for financing. Remember these tips when considering your loan options to make the best decision.

About the Author
Author

George Goulas

EXPERIENCE:  Specializing in all aspects of Real Estate as Seller’s Agent and Buyer’s Agent in Single-Family Residential Properties, New Construction, Land & Land Development, Commercial Properties, Condominiums, Multi-Family Income, and Investment Properties.  

SELLERS:  Our company was founded by our guiding principle of maximizing our clients' value when Selling & Buying Real Estate.  We have a fiduciary responsibility to maximize our clients' Real Estate value by constantly striving to create efficient and dramatic results for our Seller-clients by utilizing the latest on-line technology & marketing systems.   

BUYERS: We will help you find the right property for you & your family.  We will answer all your questions, guide you every step of the way throughout the buying process and negotiate on your behalf to maximize your value.