It is the first step you must take in using your VA Home Loan Benefits to become a Homeowner.
In all my years if dealing with Veterans looking to become a Homeowner, I cannot tell you how many Veterans are approaching the process incorrectly.
The first thing you need to do is to get Pre-Approved for a VA Mortgage with a VA Approved Mortgage Lender who is licensed in the State you want to buy in – This is not a suggestion – this is a must.
There is no way you as a Veteran can look for a property without first knowing how much of a Mortgage you can be approved for – and if you can be approved at all.
There are so many factors involved in preapproving you for a VA Mortgage & those factors need to be discussed with a Mortgage Lender – not a Mortgage BROKER.
The worst thing you can do is look for a property & then see if you can be approved
The pre-approval process will determine if you can be approved for a VA Loan and for how much & how much money you will need to take ownership of a house.
During the pre-approval process you are evaluated in 4 areas
1. Employment / Income
2. Credit / Debts
3. Assets
4. Current / past home ownership – and where you are looking to buy & what kind of property
Additionally, very few if any real estate agents will talk to you unless you have been pre-approved for a VA Loan
It is our advice that you should look to be pre-approved about 6 months before you want to close on a house so if there are any issues, we have enough time to take care of those
The Veterans Homebuyers Network as always, is here to help you realize the American Dream of Home Ownership.
Make 2021 the year of home ownership – for more information – please call 917-960-4260. We will leave NO soldier behind.
