The Future Military Homeowner Primer Future Military Homeowners

  • Do You Know These 5 Minimum Property Requirement Pitfalls?

    Do You Know These 5 Minimum Property Requirement Pitfalls?

    The Department of Veterans Affairs established Minimum Property Requirements (MPRs) to ensure that our service members were buying homes that were safe, structurally sound, sanitary and up to code. Buyers often complain when a MPR is pointed out during an appraisal, but if complaints happen to you, know that these safeguards are really there for your benefit, and for the benefit of your home. Here's an outline of …

  • Should ‘For Sale By Owner’ Scare You?

    Should ‘For Sale By Owner’ Scare You?

    You've found your dream home, but there's just one catch – it's for sale by owner (FSBO). You can usually identify these homes by their signs and listings, as they will be noticeably vacant of real estate agent information. Some are even handmade. Many homebuyers shy away from purchasing a home that's a FSBO property for a number of reasons: advice of their real estate agent, advice of a friend or lack of familiarity with the transaction process. FSBO homes may offer a deal you can't res…

  • What You Need to Know About Your Statement of Service

    What You Need to Know About Your Statement of Service

    You've provided your Leave and Earnings Statement to get your VA loan, and isn't that proof enough that you're currently serving? The short answer: no. You also have to provide a statement of service whether you're on active duty or in the reserves. A statement of service provides several pieces of information that aren't found on your LES. When an underwriter looks at your mortgage application she will need both …

  • Learn From the Overachievers: 8 Key Documents to a Speedy VA Loan Application

    Learn From the Overachievers: 8 Key Documents to a Speedy VA Loan Application

    We all know that type of person: Fifteen minutes early to every appointment, overpack for vacations, floss twice a day and have never misplaced their wallet or keys. You might be that person. And that's not a bad thing, especially if you're considering using your VA home loan benefits. When we were doing a hangout with CENTURY 21 recently, we received a host of great questions about the best way to prepare for applying for a VA loan. That made me think: Just a little prep work before you sta…

  • 5 Expert Tips For Your VA Purchase

    5 Expert Tips For Your VA Purchase

    You're a veteran or service member, and you want to purchase a home. You've smartly decided to use your hard earned VA mortgage entitlement. But from there, you are less certain of how to ensure you get the best deal. There are numerous tips, tricks and negotiation tactics that can help you obtain a good deal. Here are 5 important tips to make the most of your VA purchase transaction. Ask For Seller-Paid Closing Costs When using your VA benefit, it's important to consider how you'll …

  • Pocket Listings Explained

    Pocket Listings Explained

    How Real Estate Agents Can Help Unlock The Door

    There is a phrase thrown around in real estate circles that is often unfamiliar to those outside the business: pocket listing. What's a pocket listing? A pocket listing occurs when a seller wants to sell their home, but instead of the real estate agent listing it on the multiple listing services (MLS), the agent withholds the listing from public circulation and informs potential buyers via word of mouth. So what does that mean for home buyers? Options There are several different opti…

  • Will Your Tax Returns Impact Your VA Mortgages?

    Will Your Tax Returns Impact Your VA Mortgages?

    When you apply for a VA home loan, your income is reviewed in more ways than one. Not only does an underwriter review your most recent pay stubs and employment history, they also look at your most recent two years or more of tax returns. That's why it's really important to know how your tax return can affect your home loan approval. For the majority of homebuyers, tax returns won't cause issue, but for those selec…

  • 17 Ways to Be a Great Houseguest (or Host)

    17 Ways to Be a Great Houseguest (or Host)

    Being a good houseguest or host isn't always as easy as it seems. Plans can go awry, schedules can conflict and manners can sometimes be lost. But whether you're the guest or host, you want the experience to be pleasant and memorable. Even if you know your guest or host well, it never hurts to go the extra step to ensure a smooth visit. In order to do this, planning and organization are key. Here are several t…

  • The Future Military Homeowner Primer: Mortgage Points

    Mortgage lenders charge borrowers points as a part of the home-purchasing process. A point is a fee equal to 1 percent of the loan amount. So, for a 30-year fixed-rate $100,000 mortgage, one point would cost $1,000. There are two kinds of points: origination points and discount points. Origination points are charged by the lender and cover the cost of making the loan. For a VA loan, the origination fee is capped at…

  • The Future Military Homeowner Primer: Rate Locks

    Mortgage rates constantly rise and fall, and rarely more swiftly than right now. Dan Green of The Mortgage Reports estimates that rates changed every 3 hours, 23 minutes during the month of June. If you're in the market for a mortgage or in the process of obtaining one, fluctuating rates can make a big difference in how much you'll pay on your loan. A spike in mortgage rates during the time it takes to close your lo…