Preparing For A Military PCS & Your Real Estate Needs

You’ve got your PCS orders and now you have to start planning. What to do first then second and so on, where do you start. Whether this is your first military pcs or your eighth there are a hundred things to plan and the sooner you get started the better. As an active service member there is plenty of help for you, there are a few things you need to start right away so everything goes smooth. Things like contact your base transportation office and decide if your going to do a DITY move or have the government handle everything for you.

Military PCS

Brooke Musselman
Military Relocation Professional
Call or Text 559-900-5445

If you currently own a home you will want to get that ready to list on the market and sell unless your intentions is to rent it out. There are some duty stations out there where service members know that during their military careers they will constantly be having military pcs orders but will be coming back so being an intentional landlord is something to consider, for others this isn’t an option.

If you decide that during this military pcs you should be selling, then you want to make sure you get a real estate agent that understands how to move property fast. Don’t settle for the first person that returns your call, chances are you financed your home with a VA home loan and chances are your buyer will also since your living outside a military base. You will want an agent who truly understands the VA process and utilizes all means of print and technology available to sell your property. There is more to selling a home than some new agent sticking a sign up in your yard with their picture and telephone number.

Next if your planning to purchase a new home you will want to go ahead and start arranging everything by finding a good real estate agent working near your new duty station that is able to work with you afar so they can gather all your information as to what is important to you in a home and what you don’t want to see. This agent can make your Military PCS a pleasant and smooth operation upon arrival by having a complete list of homes to show you that already meet your goals and needs as soon as you set foot on base.

Military PCS: Preparing For Buying & Selling Real Estate With A MRP Certified Agent

Who Is A Personal And Consistent Realtor Handling All Your Needs

*The National Association of Realtor’s Military Relocation Professional certification focuses on educating real estate professionals about working with current and former military service members to find housing solutions that best suit their needs and take full advantage of military benefits and support. (You will find this definition of the MRP certification right on their website)

Instead of picking up the phone book and calling various real estate agents I recommend by calling an agent that has their MRP certification. This person will have complete knowledge of the whole VA benefits package that will allow them to team you up with a qualified real estate agent in you present community to sell your home while at the same time match you up with a qualified real estate agent in the community your military pcs is moving you to.

As someone who has been helping veterans reach home ownership since the year 2000 I trust and recommend Mrs. Brooke Musselman to handle your military pcs real estate needs. Brooke has been certified through the National Association of Realtor’s with her Military Relocation Professional certification and has a strong knowledge of the benefits available to you. Brooke also is a military spouse who understands the stress involved with a military pcs and is the perfect professional to help you make the transition. Brooke also has a great fan page on Facebook that you should check out: Military & Veteran Home Buying.

Military PCS: The Benefits Of Working With Brooke

There are several things to get accomplished concerning your real estate needs when considering your military pcs adventure. First if you currently own a home you want to make sure you get the best representation so you know you will be able to sell your home in a timely fashion, Brooke will arrange this for you so you don’t have to stress over who is best qualified and who to choose.

 

Military Relocation

Brooke Musselman
Military Relocation Professional
Call or Text 559-900-5445

Next Brooke will take care of matching you with an agent at your new base who will contact you to determine your goals and needs to start the search for your new home. You will be able to communicate with this agent weeks or even a couple of months before arriving so the agent understands what your looking for. You may even consider making a video of your current home and describing what features you like and dislike, this will help in the search for your new home.

For you that want total stress removed from the situation and enjoy being able to accomplish everything from the comfort of your computer and cell phone Brooke can even arrange your VA financing by teaming you up with a Specialist in VA Home Loans. You will be able to do all that from the comfort of your home and have financing ready and complete with an approval letter so you can make an offer on your new home when you arrive at your new duty station.

Working with Brooke will help you get through your military pcs without some of the uncertainties that many military families go through. As an experienced real estate agent who also carries a Military Relocation Professional certification that few have and also being a military spouse with a young child you will be able to relate and voice your concerns to someone who understands what you are preparing for.

Military PCS: Benefits of Buying At Your Next Duty Station

Typically military bases have great real estate markets with steady increases in property value. With the fact the government will be paying you BAH you should take advantage of the fact your building equity for your future with the help of uncle sam. If you were to use your BAH to pay rent then what your doing in a sense is helping your landlord build a nice retirement egg instead of saving for your future.

According to Trulia buying a home is 35% cheaper than renting in all of Americas 100 largest metro areas and if you look at Military Relocation Professionalstatistics you will see that your major military bases should resemble these same stats. When looking at buying versus renting for your military pcs take a moment and think about your investments in your future. Planning ahead will make retirement so much more enjoyable.

You Can Also Reach Brooke By Email @ mavhb@yahoo.com

May Your Military PCS Be Stress Free!

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Can I Get A VA Jumbo Loan

Can I Get A VA Jumbo Loan

 

VA Jumbo LoanA VA jumbo Loan is a loan guaranteed by the VA but is a loan amount that is greater than the Fannie Mae or Freddie Mac conforming loan limits. The conforming loan limit standard nationwide for a VA jumbo loan is $417,000 but can be considerably higher in many high cost counties.

 

Typically Two Types Of  VA Jumbo Loans:

Most VA Jumbo Loans will fall inside of the first type and that is it is greater than the standard conforming limit of $417,000. This type of loan will require a down payment. The second type of VA jumbo loan is below the high cost conforming limit for the particular county you will be purchasing your new home and doesn’t require a down payment.

How To Calculate My Down Payment For A VA Jumbo Loan:

VA Jumbo LoanFirst lets explain the VA guarantee or your entitlement. The VA doesn’t actually loan you money on a VA Jumbo Loan, your loan will come from a conventional lender just like anyone else and will follow the Fannie Mae and Freddie Mac guidelines. VA guarantees a 25 percent portion of that loan.

If we take a look at the standard conforming limit of $417,000 as an example VA is guaranteeing twenty five percent of the loan amount or $104,250 which is your entitlement. If you were purchasing a home of say $550,000 that is a difference of $133,000 above the conforming limit. Your down payment would be twenty five percent of that difference or $33,250.

On the other hand if you were purchasing the same value of home in Orange county California where there is a conforming loan limit of $625,500 then VA would guarantee the loan without a down payment as long as you meet the VA loan qualification standards.

What Are The Requirements For A VA Jumbo Loan:

The VA jumbo Loan my vary from lender to lender but a large majority will have a higher standard for the minimum credit score than the usual VA loan due to such high loan amounts. For loans under $650,000, borrowers may be required to have a minimum FICO score of 720. If you are borrowing over $650,000, the minimum credit requirement could be increased to 740.

If your presently thinking of applying for a VA jumbo Loan the best thing to do is contact a loan officer who specializes in VA loans. Most people when purchasing a home will usually head down to their local bank where they do their checking and savings. Even though they have a sign up in the lobby that says mortgages it’s the equivalent of going to a family practitioner with a lump in your throat when you should be going to a throat specialist.

What Documents Should I Have When Applying For A VA Jumbo Loan:

The documentation you will need to have available once you’ve got your pre-approval and have signed a purchase agreement will be the basic documents just like any other mortgage. Additional documents may be required for your particular situation and your VA loan specialist will ask for these once you have applied and determined what will be necessary.

  • Two Months Current Bank Statements
  • Current Statements From Investments Or Retirement Funds Or Face Values Of Life Insurance Policies
  • Last Two Years Tax Returns
  • Last 30 Days pay Stubs
  • If Self Employed An Up To date P&L Statement
  • Any Award Letters If Any From VA or Social Security For Benefits
  • Divorce Documents Could Be Necessary
  • If Your Presently Renting From A Private Landlord You Will need To Have 12 Months Cancelled Rent Checks

How Can I Get A VA Jumbo Loan?

I hope you have found the information in this article helpful in your search for financing your future dream home. My name is Chris Hatley and I specialize in VA loans and I too am a veteran. With that being said I want to thank you for your service and offer to help you with applying for a VA Jumbo Loan.

You can leave your contact information by visiting my home page and downloading my Quick Guide of VA Home Loan Requirements or you can email me at vamilitaryhomeloans@gmail.com, I also can be reached at my office number at (931) 651-1378.

Some of the great benefits I want to leave you with concerning a VA Jumbo Loan is:

  • VA loans allow up to a 90% refinance limit and some specialty lenders may go even higher – Most conventional loan limits are restricted to 80%.
  • VA lenders offer great rates.
  • No PMI which means a much lower monthly payment than other programs.
  • No prepayment penalties should you pay off your home early.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.
  • Ability to roll the VA funding fee into the loan amount and if your a disabled veteran this fee is completely waived.

OK, good look with the purchase of your new home and if I can be of assistance please feel free to contact me.

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va certificate of eligibility.

Four Ways To Obtain Your VA Certificate Of Eligibility

 

I decided to write a short blog post about obtaining your va certificate of eligibility since I get this question a lot on Facebook and I thought I would share this so veterans would know how easy it is to obtain. There are four ways to obtain your VA certificate of eligibility and two of them are instant with one being slow and then there is the fourth way which isn’t convenient for most people.

VA Certificate Of Eligibility #1 – Online            VA Certificate Of Eligibility

You can print off your certificate of eligibility online by visiting the department of VA eBenefits portal and logging in. If you don’t already have a user account you can create one and then proceed from there. There you will be asked for a series of information and once you plug that information in it will give you your status of eligibility. As long as you meet the service related qualifications and your eligibility is free from use then you will be able to print your certificate of eligibility.

VA Certificate Of Eligibility #2 – Request By Mail

You can print off VA Form 26-1880 by going to http://www.va.gov/vaforms/form_detail.asp?FormNo=26-1880, once you print it off just fill it out and then mail it in. Caution: This May Take A While!

VA Certificate Of Eligibility #3 – Your Lender Will Acquire It For You

If you haven’t obtained your certificate of eligibility your lender can do it for you. Lenders can access your certificate through the online Web LGY system and print it off in just a matter of seconds. As a licensed loan officer this is how the majority of my customers obtain their certificate of eligibility. If you would like to get a copy of my Free Quick Guide just download VA Home Loan Requirementsthis will explain all the basics in applying and obtaining a VA home loan. I also can guide you through the whole process and get you an approval letter so you can start shopping for your new home.

VA Certificate Of Eligibilty #4 – Go Pick It Up In Person

If you live close to one of the VA central offices you can carry a copy of your DD 214 and a filled out Form 26-1880 down to your local office and they will give you a copy while you wait. If your unsure where the closest office is you can check your local area by going here: http://www.va.gov/directory/guide/home.asp?isflash=1, here you will find any offices listed in your state.

How To Get A VA Home Loan

(931) 206-5662
Call Or Text Any Time

Please feel free to contact me with any questions you may have about applying for a VA home loan. I would be more than happy to guide you through the process and get you approved so you can start shopping for your new home. Please feel free to download my Free Quick Guide VA Home Loan Requirements and I will contact afterwards. You can also reach me at (931) 651-1378 or send me an email at vamilitaryhomeloans@gmail.com.

 

 

 

Four Ways To Obtain Your VA Certificate Of Eligibility

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VA Home Loan Requirements

 How To Get A VA Mortgage

From Application To Closing / VA Home Loan Requirements

 

 VA Home Loan Requirements: Credit Requirements

The Va doesn’t require a minimum credit score for approval but most banks will
require at least a 620 credit score because most secondary market investors
require that before they will purchase the loan on the secondary market. Some
banks will look to see if there are any circumstances that have caused the lower
credit score, and if they deem it not to be a risky concern they may manually
underwrite the loan and approve it as long as it stills stays within VA guidelines.

There is nothing in the va home loan requirements that would stop them from doing a manual underwrite, just remember it’s important to disclose any issues up front and be prepared to address those issues in writing.

 

VA Home Loan Requirements: Benefits

Serving our country is commendable and those individuals who do so should be
allotted certain privileges. In turn, the government has made the home buying or
refinancing process troublesome-free for veterans:
• Available to active military members, veterans and qualified surviving
spouses
• No Down Payment! (Can Finance 100% Of Purchase Price Plus VA Funding Fee)
• No Mortgage Insurance required (Saves You 1,000’s Long Term)
• Easier Qualifying Standards Including A Higher Debt To Income Ratio (A
great example would be a family gross income of $50,000 applying for a VA loan
to purchase their home will qualify for a payment of about $209 more than
someone applying for a conventional loan. They will also have more house for
their money since there want be any PMI built into the payment).
• Low VA Loan interest rates, due in part these loans are insured by the
federal government.
• A Loan That Is Assumable By Veterans Or Non-Veterans And Free
counseling is available from the VA in case of financial difficulties.
With all new home purchases an “escape clause” is required as safety margin for
the VA loan applicant. This clause protects the buyer from being obligated to a VAva loan application
mortgage loan when the appraised value of the home doesn’t match the selling
price. I cover this in more detail in my FREE 15 Page Quick Guide.

VA Home Loan Requirements: Funding Fee

What Is The VA Funding Fee And Who Is Exempt
The VA Funding Fee is part of the va home loan requirements and ranges from 2.15% to 3.3% of the loan amount on
purchases and .5% to 3.3% of the loan amount on refinances. The
following table breaks down how the VA Funding Fee is determined.
For Purchases

Type of Veteran                Down Payment              1st Time Use         Subsequent Use

Regular Military                     None                             2.15%                     3.30%

                                           5% to 10%                      1.50%                     1.50%

                                          10% or More                     1.25%                     1.25%
Reserves / National               None                             2.40%                     3.30%
Guard                                  5% to 10%                      1.75%                     1.75%

                                           10% or More                     1.50%                     1.50%

For Cash Out Refinances
Type of Veteran                1st Time Use                Subsequent Use
Regular Military                   2.15%                            3.30%
Reserves / National             2.40%                            3.30%
Guard

*For those with a VA loan who are refinancing simply to lower their
interest rate, the VA Funding Fee is only .5% if you aren’t exempt.
While there is a funding fee for a VA home loan, some veterans are
exempt.

*If you are a veteran getting disability compensation for service related
medical issues or are entitled to get compensation if you aren’t
drawing retirement pay, you are exempt from the VA funding fee for your VA home loan.

VA Home Loan Requirements: Disabled Veterans

The one great thing the VA has done for their disabled veterans is the VA funding is waived from the VA home loan requirements saving the veteran sometimes several thousand dollars which also translates into a lower monthly house payment.

VA Home Loan Requirements: Closing Cost

Even though there are closing cost involved with your home purchase the average veteran can usually get a deal done with little or even zero out of pocket. I cover this in more detail in my FREE 15 Page Quick Guide. VA Home Loan Requirements

Loan Origination Charge (Usually 1%)
• Credit Report Fee
• Doc Stamp
• Survey Fee
• State Tax or Intangible Fee
• Title Insurance and Title Examination
• Flood Certification
• Appraisal
• VA Funding Fee (Can Be Financed) (Disabled Veterans Are Exempt)
• Pre-Paid Interest For The Following Month’s Payment You Will Be Skippingprequalify for a va home loan
• An Escrow Account Will Also Have To Be Built For Taxes And Insurance

VA Home Loan Requirements

This article should give you a good basic understanding of the VA home loan requirements from understanding the credit qualifications to the VA funding fee and an idea what items are involved in the closing cost. I give  more detailed instructions in my FREE 15 Page Quick Guide. Please feel free to download or print so you have the information you need as you complete your research on buying your new home.
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