Have you received a PCS that will move you into central New Jersey? If so, then you'll want to find a professional real estate agent who can help you find a new home - on the double.
Check out the information on this page, then contact Robin Taylor Roth, a certified Military Relocation Professional, for assistance.
Buying a home is a bit more complicated than it used to be, because Federal regulations governing mortgages have been tightened. So, if you will be relying on a mortgage - even if it's a VA Loan - you may have to "jump through a few more hoops" than in the past.
But, don't worry, your VA Loan advisor and Robin will guide you through the process.
Before you apply for a VA Loan, you must get a Certificate of Eligibility (COE) from the Veterans Administration. (A surviving spouse may also apply.)
Check the requirements for your term of service at the VA website.
Many of the mortgage lenders with whom I work specialize in securing VA Loans. After verifying your eligibility and gathering some basic financial information, the mortgage specialist will issue a Qualification Letter, which shows "how much house" you can afford. You will submit a copy of this letter with your offer to buy a house.
Contact Robin, to be referred to a reliable mortgage specialist.
Not all homes will meet the VA's minimum property standards. The government does not want its heroes living in unsuitable homes! So, a home that is obviously a "fixer-upper" is unlikely to pass a VA-sponsored inspection or appraisal.
Work with a REALTOR who is experienced with VA Loans, and will spot obvious problems with a property that would make it ineligible for a VA Loan. It's also a good idea to avoid foreclosures and short sales, as those properties are sold "as is" - no one but the buyer will make critical repairs on those properties.
The VA wants our Veterans to be in worry-free homes. So, homes that are in flood zones are unlikely to be approved.
FEMA has redrawn the flood maps in New Jersey, following the devastation caused by Hurricane Sandy, Hurricane Irene, and Hurricane Floyd. So, ask your REALTOR to order an updated flood zone report on any home you plan to buy.
Housing allowances for troops are jumping by 12.1%, on average, in 2023, defense officials announced Wednesday.
By Military Times calculations, that’s the largest year-over-year percentage jump in the Basic Allowance for Housing in at least 15 years. Many service members have been hit hard over the last few years by the increased cost of housing.
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