So you’re thinking about buying a home? Congratulations! You’ve served your country, now it’s time you own a piece of it. Let Aligned Mortgage guide you and prepare you for the exciting road ahead.
1. Learn About Your VA Home Loan Benefit
- At Aligned Mortgage, we believe every veteran should be educated on the benefit they have earned. We offer free VA Home Loan seminars a few times each month. Come join us at our next seminar to learn the ins and outs of the VA Home Loan. We will dispel myths and uncover the truth about your benefit, and answer any questions you may have about purchasing a home with your VA entitlement. Click here to reserve your seat today! Register Here
- Download our free VA guide here to learn more.
- Speak with a VA Loan Expert today to learn more and get all your questions answered.
2. Manage Your Finances
- Control your debt – buying a home is probably the most expensive thing you’ll buy in your lifetime, now is the time to watch your spending!
- No new purchases
- Continue paying your bills on time
- Save money where you can. There is no down payment required for a VA loan, but there could be closing costs associated with your loan.
- Learn how to manage your credit here.
3. Get Pre-Approved
- Speak with a VA loan expert to get pre-approved. They will sit down with you and answer your questions, review your documentation and credit report, and run your loan application through an Automated Underwriting System.
- A Pre-Approval allows you to be confident in your buying power to know exactly what you’re approved for, and how much you’ll be paying each month for mortgage expenses. Now all that’s left to do is find your home!
4. Find Your Real Estate Agent
- Now that you know what you’re approved for, you need to find an expert real estate agent to help you find the home you’re looking for. There are many excellent agents that can assist you, click here for more information on how to find yours. (link to how-to-find-realtor blog)
- Your Realtor will send you listings of homes you may be interested in. You will narrow down properties by viewing them online or going to open houses.
- Your Realtor will write up a sales contract and submit offers on the homes you love, and when your offer is accepted by the seller, you go into escrow and start the official loan process! Congratulations!
Helpful Tips of What Not to Do:
1. Do Not quit or change your job. Lenders are qualifying you based on your income and credit. Changing your income can change what you’re approved for.
2. Do Not apply for new credit or co-sign for anyone. This could negatively affect your credit or debt-to-income ratio, which in turn can change what you’re approved for.
3. Do Not make any significant purchases during the loan process (wait until after you own the home before buying new furniture or that new car!)
4. Do Not pay off loans, collections, credit cards, etc. without discussing with your Loan Specialist first. This could affect your credit profile and again could change what you were approved for.
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