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Using Your VA Loan  One of the Best Benefits of Military Service Home Buying Made Easy
Who We Are <ul><li>Keith Christian  </li></ul><ul><ul><li>Over 30 Years in Real Estate  </li></ul></ul><ul><ul><li>Mortgag...
VA Loan Approval Process <ul><li>Prequalification- Can be done over the phone </li></ul><ul><li>Complete 1003 VA Mortgage ...
House Hunting <ul><li>Price </li></ul><ul><li>Neighborhood </li></ul><ul><li>Size </li></ul><ul><li>Single Family Detached...
 
MLS –  Multiple Listing Service <ul><li>RE Agent can filter property </li></ul><ul><ul><li>Send you only those that meet y...
 
Today’s Market <ul><li>Traditional sale </li></ul><ul><ul><li>Seller has equity </li></ul></ul><ul><ul><li>Buyer can reque...
 
House Hunting Trips <ul><li>Based on your criteria and amount you qualify to purchase </li></ul><ul><ul><li>RE Agent make ...
Offer and Negotiation <ul><li>Asking price is not firm </li></ul><ul><li>BPO – Broker’s price opinion </li></ul><ul><li>Ap...
Today’s Market <ul><li>Traditional sale </li></ul><ul><ul><li>Seller has equity </li></ul></ul><ul><ul><li>Can request rep...
Today’s Market
Time Line for VA Loan <ul><li>Loan submittal package </li></ul><ul><li>Executed contract – Open escrow </li></ul><ul><li>3...
 
Escrow <ul><li>Escrow is Neutral 3 rd  Party  </li></ul><ul><ul><li>Manages the sale and purchase process </li></ul></ul><...
 
Team Advantages <ul><li>Customer Service </li></ul><ul><ul><li>Available 7 Days a week </li></ul></ul><ul><ul><li>Evenings...
 
Contact Info <ul><li>Keith Christian </li></ul><ul><ul><li>(858) 414-7106 </li></ul></ul><ul><ul><li>[email_address] </li>...
References <ul><li>Keith Christian </li></ul><ul><ul><li>Art Guzman (619) 341-3007 </li></ul></ul><ul><ul><li>Jill and Chr...
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No Down Payment Home buying using your VA loan

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No down payment using your VA loan - buy foreclosures, short sales, equity homes in San Diego county - free seminar to help you buy your dream home
































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Transcript of "No Down Payment Home buying using your VA loan"

  1. 1. Using Your VA Loan One of the Best Benefits of Military Service Home Buying Made Easy
  2. 2. Who We Are <ul><li>Keith Christian </li></ul><ul><ul><li>Over 30 Years in Real Estate </li></ul></ul><ul><ul><li>Mortgage Broker Specializing in VA Loans – Closed 27 VA Loan in the Past 2 Years </li></ul></ul><ul><li>Susy Thomas </li></ul><ul><ul><li>Real Estate Broker Experienced in Residential and Commercial </li></ul></ul><ul><ul><li>Represents VA Loan Buyers to Purchase Foreclosures, Short Sales, as well as Traditional Sales </li></ul></ul>
  3. 3. VA Loan Approval Process <ul><li>Prequalification- Can be done over the phone </li></ul><ul><li>Complete 1003 VA Mortgage Loan Application </li></ul><ul><li>Run credit </li></ul><ul><li>Provide financial documentation required for VA Loan </li></ul><ul><li>Determine how much you can borrow </li></ul><ul><ul><li>Monthly Payment = Principle + Interest + Property Tax + Insurance </li></ul></ul><ul><li>No money down – Low closing costs </li></ul><ul><ul><li>Then you can start looking at houses to make offers </li></ul></ul>
  4. 4. House Hunting <ul><li>Price </li></ul><ul><li>Neighborhood </li></ul><ul><li>Size </li></ul><ul><li>Single Family Detached Home </li></ul><ul><li>Condominium, Town house - Attached </li></ul><ul><ul><li>VA approved complex </li></ul></ul><ul><ul><li>Monthly HOA fees </li></ul></ul>
  5. 6. MLS – Multiple Listing Service <ul><li>RE Agent can filter property </li></ul><ul><ul><li>Send you only those that meet your criteria AND are still active </li></ul></ul><ul><ul><li>Differentiate Short sales and Foreclosures </li></ul></ul><ul><li>“Window” shopping via the internet </li></ul><ul><ul><li>Photos, virtual tours </li></ul></ul><ul><ul><li>Room and lot sizes </li></ul></ul><ul><ul><li>Year property was built </li></ul></ul><ul><ul><li>Monthly HOA fees </li></ul></ul>
  6. 8. Today’s Market <ul><li>Traditional sale </li></ul><ul><ul><li>Seller has equity </li></ul></ul><ul><ul><li>Buyer can request repairs </li></ul></ul><ul><li>Short sale </li></ul><ul><ul><li>Seller owes more than the property is worth </li></ul></ul><ul><ul><li>Long process requiring seller’s lender approval </li></ul></ul><ul><li>Foreclosure (REO) </li></ul><ul><ul><li>Lender has taken ownership – bank owned </li></ul></ul>
  7. 10. House Hunting Trips <ul><li>Based on your criteria and amount you qualify to purchase </li></ul><ul><ul><li>RE Agent make schedule to maximize time </li></ul></ul><ul><ul><li>Keep notes – take photos </li></ul></ul><ul><li>Remember paint and flooring are inexpensive </li></ul><ul><li>Major repairs needed – VA will not approve </li></ul><ul><ul><li>Home must be safe and habitable </li></ul></ul>
  8. 11. Offer and Negotiation <ul><li>Asking price is not firm </li></ul><ul><li>BPO – Broker’s price opinion </li></ul><ul><li>Appraised value is critical </li></ul><ul><li>Specify personal property to be included </li></ul><ul><li>Include closing cost credit for buyer in offer </li></ul><ul><ul><li>VA allowables/non-allowable closing costs </li></ul></ul><ul><ul><li>Electronic Signatures from your computer </li></ul></ul>
  9. 12. Today’s Market <ul><li>Traditional sale </li></ul><ul><ul><li>Seller has equity </li></ul></ul><ul><ul><li>Can request repairs </li></ul></ul><ul><li>Short sale </li></ul><ul><ul><li>Seller owes more than the property is worth </li></ul></ul><ul><ul><li>Long process requiring lender approval </li></ul></ul><ul><li>Foreclosure (REO) </li></ul><ul><ul><li>Lender has taken ownership – bank owned </li></ul></ul>
  10. 13. Today’s Market
  11. 14. Time Line for VA Loan <ul><li>Loan submittal package </li></ul><ul><li>Executed contract – Open escrow </li></ul><ul><li>30 - 45 Days to Close Escrow (COE) </li></ul><ul><ul><li>Loan processing of buyers’ package </li></ul></ul><ul><ul><li>Underwriting of Loan by VA Lender </li></ul></ul><ul><ul><li>Keith monitors and coordinates for you </li></ul></ul>
  12. 16. Escrow <ul><li>Escrow is Neutral 3 rd Party </li></ul><ul><ul><li>Manages the sale and purchase process </li></ul></ul><ul><li>MLS changed to “Pending” </li></ul><ul><li>Home Inspection </li></ul><ul><li>Appraisal </li></ul><ul><li>Preliminary Title Report Review </li></ul><ul><li>Seller Disclosures/VA Loan Disclosures </li></ul><ul><li>Sign Loan Documents </li></ul><ul><li>Loan Funds </li></ul><ul><li>Purchase Records </li></ul><ul><li>Escrow Closes </li></ul>
  13. 18. Team Advantages <ul><li>Customer Service </li></ul><ul><ul><li>Available 7 Days a week </li></ul></ul><ul><ul><li>Evenings </li></ul></ul><ul><li>Experienced in Short Sales and Foreclosures using VA Loans </li></ul><ul><li>Questions answered every step of the process </li></ul><ul><li>Combined 33 years experience in San Diego Real Estate </li></ul><ul><li>NO COST to YOU </li></ul>
  14. 20. Contact Info <ul><li>Keith Christian </li></ul><ul><ul><li>(858) 414-7106 </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul><ul><li>Susy Thomas </li></ul><ul><ul><li>(858) 361-8174 </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul>
  15. 21. References <ul><li>Keith Christian </li></ul><ul><ul><li>Art Guzman (619) 341-3007 </li></ul></ul><ul><ul><li>Jill and Chris Gora (619) 623-0713 </li></ul></ul><ul><ul><li>Tim and Cyndi Armer (847) 445-4265 </li></ul></ul><ul><ul><li>Steve Casarez (619)0756-8040 </li></ul></ul><ul><li>Susy Thomas </li></ul><ul><ul><li>Tim and Irene Zlotnicki (760) 687-8808 </li></ul></ul><ul><ul><li>Imelda Dominguez (979) 492-4570 </li></ul></ul><ul><ul><li>Joe and Lanae Wolchko (619) 334-6649 </li></ul></ul>

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