When purchasing a home, ordering a home inspection is an essential item to add to your to-do list. Our real estate agents know that a home inspection is vital for revealing major and minor issues with a home. While a home inspection will cost you, detecting issues now can help you save money in the long run and give you peace of mind about the property you are buying. Here are some home issues detected by a home inspection.
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Are you an active or retired military member with your eye on one of the wonderful St. Louis homes for sale? Uncle Sam wants to help make your dream of homeownership come true. Our real estate agents share significant changes to the VA loan program taking effect in 2021 and how they benefit you.
What Is a VA Loan?
Before reviewing the changes, it's helpful to clarify what constitutes a VA loan and how it differs from other mortgages. First of all, only active service members, veterans, and eligible surviving spouses can apply for a VA loan.
Some people mistakenly believe funding for the loans actually comes from the Department of Veterans Affairs or VA. Private institutions, such as banks and mortgage companies, are still the ones issuing the loans. The difference is that the VA guarantees a portion of the loan, making it easier for the borrower to obtain more favorable terms.
Benefits of VA Loans
If you're looking at some great Washington homes for sale with the intent of using a VA loan, you still have to go through the traditional steps: Get prequalified and preapproved, make an offer, have the home appraised, and complete the closing.
Here are the ways a VA loan truly works to your advantage:
What's New in 2021
So what are the specific changes to the VA loan program going forward in 2021?
Ready to start your search for a new home? Contact us at Coldwell Banker Premier Group to get started.