FYI
Buying a home on your VA Loan is very simple. In our local market here at Ft Bragg NC, when a buyer finds a home that they qualify for it has become customary over the years that the buyer put 1% of earnest money down on the home that they want. This serves as two purposes, number one: this keeps someone else from coming in behind you and buying the home you want (your 1% secures the property) and number 2: the seller knows he has a serious buyer. This 1% is then held in an escrow account with the listing company. When you get to the closing table, your 1% will be credited back to you and applied towards your portion of closing cost. Most agents will ask the seller to contribute a portion towards the buyers closing cost. This portion could be 1.75% or as much as 3%. All this happens at the time the offer is presented. You could possible buy a home (existing or new construction) with very little out of pocket expense. It is much less than finding a place to rent. Think of it this way, if you find something to rent for 1200.00 a month, you will have to come out of pocket 2400.00 up front with nothing to gain. If you find a home for 150,000.00 then your out of pocket cost will be 1500.00. And you could still possible move in before you close if the seller is in agreement. And your 1st payment could be as far out as 45 days away. For example, if you put an offer on a property in Sept. then your first payment will not be due until Nov 1st.
Our market consist of approximately 98% of VA loans. Your VA certificate of eligibility remains with you for life as long as you have served 180 days active duty and you sell your home when you move your eligibility is restored back to you.
If you want me to help you buy your new home...please contact me. I will show you how it is done.
If you have any questions, please feel free to ask.