How To Buy a Home with a VA Home Loan in Lawrence KS
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Did you know that Kansas is home to over 150,000 U.S. Military veterans? That's a significant number of proud individuals who have served our country and are now looking for a home where they can start a family and the next phase of their lives. If you're a veteran in the Lawrence, KS area with the dream of homeownership, a VA home loan may be the key. These affordable home loans, backed by the U.S. Department of Veterans Affairs (VA), offer veterans assistance with competitive interest rates, flexible qualifications, and no down payment in many cases.
With that said - it can be difficult to navigate the VA home loan process - and that's where Realtor Jackie Giroux can help. Jackie is a dedicated Lawrence realtor with a passion for helping people find their dream home. Jackie Giroux has experience with a variety of home loan processes and applications to include VA home loans and she can help make your home buying adventure smooth and successful. Learn how to buy a home with a VA home loan in Lawrence, KS with Jackie Giroux by your side!
Step-By-Step Guide to VA Home Loans
It can seem like an impossible dream for many veterans to own a home and start a family - but a VA home loan can turn that dream into reality. These government-backed loans offer significant advantages - including competitive interest rates, flexible qualification requirements, and often the elimination of the need for a down payment. This translates to more affordable monthly payments and a significant boost to your purchasing power. Veterans who are ready to embark on their homeownership journey with a VA-backed home loan can learn more about the steps it takes to purchase a home with this quick list created by Realtor Jackie Giroux and her team.
1. Apply for a Certificate of Eligibility (COE)
Purchasing your dream home with a VA-backed loan starts with a Certificate of Eligibility (COE). This document verifies your veteran status and entitlement to use a VA loan. Requirements for veterans to be eligible include active-duty service requirements based on when, where, and how you served.
2. Check Your Finances and Choose a Lender
Before you dive into the house hunt, it's important to check your finances and make sure you are in a good place to buy. The next step is to choose a lender - bank, mortgage company, or credit union - in the Lawrence, KS area. When you apply for a VA-backed home loan with a lender, you may be subject to a 1% loan origination fee and additional fees that can be negotiated in select cases. Realtor Jackie Giroux can help you analyze your credit score and find a reliable and competitive lender in the Lawrence area.
3. Choose a Real Estate Agent and Shop
It's time for the fun part – finding your dream home! Choosing the right real estate agent is key to your success and Jackie Giroux may be the perfect fit with her in-depth knowledge of the Lawrence area and current market trends. Jackie can help tailor your home search to your specific needs and budget, ensuring you find a house that not only feels like home, but also represents a sound investment in your future.
4. Create a Purchase Agreement
When you have found your dream home, Jackie Giroux will guide you through crafting a strong purchase agreement with a VA Escape Clause (also known as a VA Amendatory Clause) included. This vital clause allows you to void the contract if the VA appraisal comes in lower than the agreed-upon purchase price - which is a requirement when you apply for a VA-backed loan.
5. Get the Home Inspected and Appraised
Two crucial steps remain before you close on your home – the home inspection and an appraisal. Homes purchased with a VA-backed home loan must be appraised by a VA-approved appraiser and Jackie Giroux can help you find a qualified inspector. VA-approved appraisers have specific qualifications and hold the property to Minimum Property Requirements (MPRs). These MPRs ensure the home is safe, structurally sound, and meets health and safety standards. Jackie Giroux’s guidance will help you navigate these steps smoothly and confidently.
6. Close on Your Home
Finally, the big day arrives – closing on your new home! Jackie Giroux will be by your side throughout the closing process, reviewing paperwork and ensuring you understand each step. With a VA home loan, closing costs are generally lower, making the process more manageable.
Owning a home in Lawrence, KS with a VA loan is more possible than ever. This veterans benefit program offers significant advantages, putting homeownership within your reach - but navigating the process doesn't have to be overwhelming. Realtor Jackie Giroux is here to help guide you every step of the way, from securing your Certificate of Eligibility (COE) to closing on your dream home. Her experience with VA home loans and the Lawrence housing market ensure a smooth and successful journey.
Contact Realtor Jackie Giroux today and turn your dream of owning your own home into a reality!
