General Home Buying Tips

Is now the right time to buy? Military United understands that every person's situation is different when it comes to the timing of purchasing a home. Right now is definitely the time to purchase a home and as a veteran you are among the most powerful buyers in the real estate market.

With lower home prices and higher lending limits, there’s never been a better time to utilize the benefits of a VA loan. Most conventional loans can’t compare when it comes to rates and out-of-pocket costs.

Veterans and their families should explore all of their financing options. But the VA’s lending program caters specifically to the unique needs of military families.

But there are also some general needs that all homebuyers should consider. Shopping for a home can prove frustrating and stressful. We’ve collected a handful of essential tips for veterans and their families to consider before beginning the process.

Determine Your Time Commitment

If your job is in flux or the neighborhood is on the edge, take time to consider how long you will realistically remain in the house. It’s a brutal market for sellers. If you’re not prepared to live there for at least three or four years, consider other options.

Do Your Homework

Determine your budget and stick to it. Make sure you’ve got a grasp on your purchasing range, factoring in things like closing costs, funding fees and other wallet-drainers. Utilize mortgage calculators and other online tools.

Push for Pre-approval

This is different from pre-qualification. Pre-approval is more formal and lasts for about four months. Sellers often look for buyers who have pre-approval, as there’s more certainty they can make good on an offer.

Brutal Honesty

When you start shopping, have at least one person with you to play the contrarian - have him or her point out every flaw, crack and problem both inside and out. That can help ferret out information from real estate agents and provide you with some needed balance.

Check Your Surroundings

After finding a house you like, do a little detective work. Watch the flow of people and traffic in the area. Poll neighbors and residents about their likes and dislikes. Keep an eye out for blight. Look for comparative stats on similar neighborhoods.

Ask for Help

There are mortgage specialists and scores of online resources that can answer questions and provide feedback. Purchasing a home is a significant life decision. Make sure you’re fully informed and have complete understanding before signing a single document.