Why You Should Work With A Military Relocation Specialist When You Need A VA Loan To Buy Your Next Home In An Unfamiliar Area
Posted on: 26 January 2017
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If you or your spouse have been in the military for a while, you may already be familiar with how frustrating it can be to have problems occur with a move. Whether you are dealing with items that don't catch up with you for a few weeks after you get to the new area or discovering that the house you're moving into is next door to a property undergoing loud and extensive construction, moving to a new and unknown area can be very problematic and can be out of anyone's direct control . Fortunately, you can work with a military relocation expert to find the right house that will meet the VA's requirements for a home loan and in doing so, make some aspects of your move easier. Therefore, it is a good idea to be aware of the following ways that an expert in that field can make life easier for your family when you are transferring to a new area.
A Military Relocation Expert Will Know The Requirements That Are Needed For A Home To Qualify For VA Financing
It is often surprising for new borrowers to learn that some homes that have passed the standard inspection that most people get with any home purchase still may not qualify for a VA loan. For instance, a VA loan may require that the home has an acceptable and reliable means of heating the home, which in some areas means that solar heating must have a backup method in case an issue occurs. Another important requirement that may be pertinent to your plans is that the home must be ready to move into in, so if you found a house at a great price because the former owner removed the kitchen appliances as part of a kitchen renovation and was unable to install the new ones, that property is unlikely to be eligible for VA financing.
Fortunately, by working with an expert in the field of military relocations, you can minimize the frustrations associated with falling in love with a great property and then discovering that you cannot make it yours. It is even more important to be able to choose the right military relocation specialist when you realize that some of the requirements for a VA loan will vary by area so that you cannot always use your experience from your last move to help you plan for your next one.
The Expert Will Be Able To Refer You To Homes That Do Not Exceed The Maximum Amounts Available Under Current VA Guidelines
Another issue to consider when planning a move will be the cost of living in that area, as it is known to impact the dollar amount that you can borrow. Since there is not technically a limit to the amount of money that you can borrow from a lender for your new house, but the extent of risk that the VA can provide by underwriting a loan cannot exceed a specific number that is determined based on where you live, it can be quite challenging to look for your new home by yourself. That is especially true when you consider that you may be trying to find your new home long-distance.
As a result, it only makes sense that it will behoove you to be aware of the amounts that can reliably be underwritten by the VA for new home loans and for you to only shop for homes that are at under or that amount. Since your relocation expert can point you in the right direction, his or her services will once again be useful.
In conclusion, moving is rarely an easy experience and it can be even more challenging when you are moving to an unknown area due to Uncle Sam's order. As a result, it will behoove you to work with a military relocation expert to make your move less stressful and the examples provided above are just three ways that you can benefit from their assistance.