VA Home Loan Process &  Offer Timeline
FIRST you would need to get Pre-Qualified / Approved
- Average FICO Score = 620 or above
Once APPROVED – now we are ready to find you new home
Day 1: Submitting an OFFER – Seller ACCEPTS
Day 1- 3: Initial Deposit ($2K or 1% of Purchase Price)
However, keep in mind – there is…
- NO Money Down – a savings of up 3% of purchase price
- NO Mortgage Insurance – a saving of up to $400 p/month
- NO VA Funding Fee w/10% or more of VA Disability
- (up to $10,000 savings depending on your loan amount)
A TOTAL SAVINGS of more than $25,000 – just for using your VA Home Loan over a Conventional or FHA Type Loan.
Buyer(s) Closing Costs (approximately 2.5% of purchase price)
- Option 1: Buyer(s) pays
- Option 2: Lender Concessions / Credit
- Option 3: Seller Concessions / Credit
- Option 4: Combination of all three
San Diego County Property Tax Exemption
- 100% Disable Veterans - approximately = $147,350 from the Purchase Price
§ 30% increase (2018 = 1,400 vets = $2M savings)
Buyer(s) Inspection / Appraisal Fees:
 Home Inspection = $350 (Condition)
- Appraisal = $600 (charged) (True Market Value)
Day 7 – Seller(s) provides disclosures for Buyer(s) review
- any modifications, alterations or changes since ownership
Day 17 – 21: Contingency Periods (Expires)
- up to 17 days = Home / Appraisal Inspection
- up to 21 days = Loan
Day 21-24 or 30: Sign Loan Docs / Close Escrow
- lending final conditions / terms are met / satisfied
- typically 30 days; however, most VA Loans in about 21-24 days on average – across the nation.
Now we are approximately 24-48 hours from receiving the keys to your new or next home.
As a veteran myself, you need someone – that understands the VA Home Loan Process, your military obligation and family needs.
*** If your currently on Active Duty - did you know that your Basic Allowance for Housing (BAH) and Cost of Living Allowance (COLA) that you received and use to pay someone’s rent – can be used to pay for your own mortgage – where you are now building equity, receiving tax write-offs and can call you own.
Are you still excited? I….. know… mind blowing – isn’t it.
Who’s Next… give me a call and let’s get started – because you have earned an ultimate opportunity and the reason why there is not a “down payment”… is because your service – was your down payment.
Call Andre S. Hobbs, Navy Veteran / Realtor @ (619) 892-1008.
Andre S. Hobbs, Realtor
Andre S. Hobbs, Realtor
Military-Trusted Realtor (#1 Preferred VA Agent)
864 Amena Court, Chula Vista CA 91910