We are truly Blessed to live in the United States of America.
I write this from the comfort of my Office at REMAX in Valencia.
I write this not having to worry about someone breaking down my door because I don’t agree with them.
- Are you a Veteran? Having served the armed services – Army, Navy, Air Force, Marines, Coast Guard, National Guard.
- Are you able to get your DD214? – The DD Form 214, Certificate of Release or Discharge from Active Duty.
- Does your lender farm out VA loans or do they handle them personally?
If you are a veteran, you will know it. One of the things to watch out for is where you are going to be obtaining your loan when it comes to borrowing money for a home as a veteran.
Some of the Credit Unions have extra fees, we have seen this occur.
The same can be said about certain Mortgage Brokers or Banks who also loan money in the VA capacity to Veterans.
The way to watch out for this, or at least the way we do for our clients, is by looking at the interest rate being charged coupled with the closing costs the lender is asking for.
In some cases, we have seen double and triple the “usual” closing costs being charged by a VA Lender – so watch out and if you want a second set of eyes on yours – I’ll send the info to our approved Local Veteran Lender in Santa Clarita.
After you get your VA loan secured – now it’s time to start viewing homes and real estate for sale. Understand that not all homes, condos or town-homes are VA approved.
If the property is a condo/townhome, they typically have to be on the VA approved list. Which any VA lender worth their salt can run the intel about VA or not VA approved.
Some Single Family homes are not going to pass the VA appraisal standards. They may be missing appliances, have an exposed slab(missing flooring), or be in bad shape making them not being able to be approved by the VA appraiser.
Know that all “issues” can be remedied by the home seller, if the issues have to do with the VA appraiser calling out items that need to be taken care of to have the home approved for the VA Loan.
However, having said that – The question from the home seller will then become, “is the market such where the seller can wait for an offer, which is not VA, so they don’t have to fix or repair anything?”
When wanting to buy a home in Santa Clarita – Valencia or elsewhere in Southern California, you need to make sure you hire a Realtor who knows VA and a Lender who is not going to gouge you when it comes to fees and rates.
As Gi Joe says, “And knowing is half the battle…”
I know, I’m such a nerd. Have a GREAT day and reach out to me here at REMAX and SCVnest when you are ready for me to work hard for you!