I just got a VA Loan and placed an offer. Going to give the agent my earnest money tomorrow. What can I expect next?

2018-12-21T22:38:16-05:00

Response by SGT Chris Padgett made Dec 22 at 2018 3:17 AM

2018-12-22T03:17:57-05:00

Question, did you get pre-financed? Do you know how much you qualify for?
Expect the home to be inspected and pass inspection. Have the seller pay the inspection fees. You can offer to reimburse the fee at closing. If there are problems found, you can walk away with your earnest money and it didn't cost you a dime. Be suspicious of anyone who won't agree to this. The home must be appraised. You will have to pay for this. Only do this after the inspection. Keep in mind there are minimum requirements that the VA will accept. All appliances must be present and in good working order.
With a VA loan, you may not have to put down a down payment. You will not be required to pay PMI, (the loan guarantee covers that). Check your credit, if you have anything in collections, be ready to either justify that or pay it off. If you do have to pay it off, get an agreement from the collection agency to remove the debt from your report. Most will without much fight.
Some tips I would suggest, visit the home and check your cell coverage, how many bars do you have? Check your utilities. Does high speed internet and/or cable run to the home. Water and other utilities, check this stuff. zoning rules, are there any insane rules or fees you may have to deal with. Do this footwork on your own. Don't count on a realtor to do this for you.
Good luck with the new home!

Response by SPC Tyler Bryant made Dec 23 at 2018 12:13 AM

2018-12-23T00:13:07-05:00

Did you without getting into your discharge information because it’s non of my business get the waver for the 1,500? Just wondering because I am getting a VA loan myself.

Response by PFC Pamala (Hall) Foster made Jan 9 at 2019 7:34 PM

2019-01-09T19:34:33-05:00

UPDATE:
Appraisal, inspection, VA papers AND pre closing are done, next is Pest Inspection, Underwriting and a Walk Through, water test by the county. At first our date was Feb. 6-NOW Jan. 30. Is it normal for closing to be this fast? Happy? YES, but confused?

Response by PFC Pamala (Hall) Foster made Apr 16 at 2019 11:54 AM

2019-04-16T11:54:20-04:00

UPDATE:
We are IN the house, figuring how to make it ours and loving every minute. The process was a bit frustrating at times because we wanted in the house the sooner the better, but the only thing now is still unpacking.