Should I Buy A Home After Leaving The Military

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Should I Buy A Home After Leaving The Military

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Va Loans for Vets provides and assists all veterans and active duty military with ALL of their VA Home Loan Financing Needs. Be a proud homeowner today. For more details call us at 480-351-5904 or visit our site – PowerPoint PPT presentation

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Title: Should I Buy A Home After Leaving The Military


1
Should I Buy A Home After Leaving the Military?
2
The transition to civilian life can often be a
confusing time for individuals in the military.
3
The freedom of making life choices after years of
being told what to do and where to live may
seem overwhelming for both the individual and the
family.
4
Many individuals leaving the military may wonder
whether it is a good idea to purchase a home.
The Veterans Administration has guaranteed home
loans for veterans for many decades that have
helped many service members purchase homes at
affordable rates.
5
RENT OR BUY?
6
The mortgage crisis of 2007 to 2011 caused a
great deal of uncertainty about owning a home.
7
Although home prices fell from their heights in
2008, owning a home is still a significant
investment for growing families.
8
  • The new reality of home ownership requires that
    individuals that are considering purchasing a
    home do considerable research on
  • Properties
  • Neighborhoods
  • Lending institutions

9
To ensure that they are making a good purchase,
at a good interest rate and under good terms.
10
Financial experts suggest you consider how long
you plan to be in an area before making the
commitment to home ownership.
11
If you plan on staying five years or longer, home
purchase will allow you to build equity while
paying for your housing.
12
If you plan to stay less than five years, renting
may be the better option for you. Buyers must
also consider the cost of repairs on a home you
own.
13
Also, employment considerations should be taken
into account when considering the purchase of a
home.
14
UTILIZING YOUR VA BENEFITS
15
The VA guaranteed home loan program can help
ex-military members to finance a home at an
affordable rate, often with no down payment.
The program does not guarantee that you will
qualify for a loan.
16
The VA loan merely guarantees that the lender
will receive payment if you cannot pay off the
loan.
17
This guarantee is an attractive feature for
lenders, and many lending institutions
participate in the program.
18
QUALIFYING FOR A VA HOME LOAN
19
Applying for a home loan through the VA
guaranteed loan program is slightly different
than what would be done through conventional
financing.
20
However, participating lenders have trained
personnel that can help you to navigate the
requirements, which include
21
  • Providing A Certification Of Eligibility

This document can be obtained through military
channels by filing a DD Form 214 or other
document, depending on your military service.
22
Lenders can often help you to acquire the
appropriate form for your needs.
23
  • Credit Record

Generally, the VA guaranteed loan program
requires a credit score of 620.
24
A good record of payment of your bills will help
you to obtain a loan. However, if you have had
credit problems in the past, you may still be
able to acquire a loan, under certain conditions.
25
  • Purchase Agreement

You must have a signed copy of the purchase
agreement detailing the price and terms of the
sale.
26
  • Home Appraisal

The VA requires that the home be appraised to
ensure that the property is worth the purchase
price.
27
The appraisal is not the same as a home
inspection, as the home inspection will detail
the conditions of important home systems and
construction.
28
  • Employment Information

You must provide W-2 forms indicating your income.
29
If you are self-employed, two years of past
income tax statements are required to verify your
income.
30
Although purchasing a home is a big step in an
individuals life, the process can be one of
the most important steps in securing your
familys future.
31
Va Loans for Vets provides and assists all
veterans and active duty military with ALL of
their VA Home Loan Financing Needs.
32
Be a proud homeowner today. For more details
call us at 480-351-5904 or visit our site
www.valoansforvets.com
33
VA Loans for Vets 7702 E. Doubletree Ranch Road,
Suite 220 Scottsdale, AZ 85258 Phone (480)
351-5904 Email jimmyv_at_fcbmtg.com
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