Home Buying Process


The Overall Home Buying Process
 
When you are ready to start the process, your local lending expert will be able to steer you in the right direction and explain the local process of buying a home. They’ll also help you find a local real estate expert to help you select a home. 
 
While every region of the country has slightly different rules, laws and customs when it comes to buying a home, the general process is described below:  

Step by Step—The Home Buying Process

Getting Pre-Approved
  • This is the most important first step… It’s critical that you work with a local VA loan expert who knows state and local laws when starting the process of buying a home. 
  • Local lenders are your future neighbors!  You’ll be able to meet with them in person, they’ll explain qualification and financing options to you, help you get pre-approval, and they know the areas that you are considering and they will work with you long into the future. 
  • Your local VA lending expert also knows the best real estate agents in town and help you select one that is an expert on the areas that you want to live, have extensive experience with the home buying process, and are good negotiators who will look out for your best interests. 

Finding a real estate agent
  • Your lender will help you select an expert, specialized buyer representative who you can trust. 
  • This agent will be very experienced in helping buyers find the home you want, whether you’re a first-time buyer or an experienced home buyer.  They’ll be experts on: New homes, existing homes, second or vacation homes, rural properties, all types of real estate
  • ​This local real estate agent will be representing you through the rest of the home buying process.
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Consulting Session
  • You and your local real estate expert will meet you one-on-one discuss the features you desire in a home as well as identify the areas that you wish to live.
  • Things to consider besides prices includes size of the home, # of rooms, # bathrooms, yard size, age of the home, views and yard size and fencing.
  • Other important factors may include distance/time to schools, grocery stores, restaurants, work and playgrounds and other entertainment

The Search!
  • Once you’ve established the style and type of home you’re searching for, it’s time to start selecting homes to look at. 
  • Your local real estate agent will make the appointments at those homes, show you those homes and help you find your dream home.

Your Offer
  • You found it! When you find your dream home, you should present a competitive offer immediately.
  • Your local real estate agent has extensive experience in contract negotiations; he or she will help you get the home you want for a fair price and terms that are in your best interests.

Offer Accepted!
  • When the seller accepts your offer, it becomes a ‘pending offer’.  You will need to finalize your loan at this time.
  • Our local VA Loan experts will help you obtain the best interest rates and terms possible.

Inspections and Document Reviews
  • Inspections are performed to ensure that the property is in great shape and to minimize the chance of ‘surprises’ in the future.  Your real estate agent will assist you to reconcile inspection issues with the seller.
  • You will review home owner association documentation and other related paperwork.  Your real estate agent will help you obtain this documentation and help answer questions that you may have.
  • You want to make sure that every detail is handled accurately and immediately. Your real estate agent will work with you to monitor, track and meet all timelines and deadlines during this phase to ensure that your home closes properly and on time. 
 
Signing the Loan Documents
  • While your lender’s instructions may vary -- be prepared to bring your driver’s license (or passport), cashier’s check (if needed to pay for your remaining closing costs), and insurance information to the closing.
 
Congratulations!  You’re a Home Owner
  • After the deed is recorded with the appropriate governmental agency and a possession date is agreed upon -- pick up the keys and move into your home!

Our Veterans Administration Mortgage Loan Specialists are available to answer any questions you have.