Frequently Asked Questions

How will you tell me about the newest homes available?

The Multiple Listing Service Website provides up-to-date information for every home on the market. We are regularly in contact with thousands of local realtors, builders, and folks interested in selling. We will keep you informed by email and in person. We also offer automated emails for new-to-market listings.

Can I attend open houses on my own?

Absolutely! We encourage all buyers to visit open houses on the weekends. Open houses provide buyers with opportunities to view homes and neighborhoods without an agent. In most cases, we do not attend open houses with buyers — this way, our time is freed up to show you homes that do require an agent to access.

Can you help me find new construction homes?

We can most definitely help you find new construction homes. Once you are set up with an agent for your individualized experience, he or she will use your requests and needs to seek out homes just right for you.

How does for sale by owner (FSBO) work?

Homeowners trying to sell their home without an agent representation are usually doing so in the hopes of saving the commission. If you see a FSBO and want the advantages of our services, let us contact the owner for you and make an appointment. Most times the homeowner will work with an agent even though their home is not listed, since the agent is introducing a potential buyer to their property.

Questions about VA Loans

Is a down payment required?

There is no down payment. The VA loan covers 100% of the required down payment.

How many times can I use it?

You can use a VA loan multiple times, there is no limit. You may have 2 VA loans at one time.

How much money out of pocket?

None. However you will have the opportunity to do a home inspection with an inspector of your choosing. There may be possible closing costs depending on negotiations of the contract. Your lender will determine the closing costs based on the price of the home and closing date.

What is the funding fee?

It is a one time payment that the military person pays on a VA home loan to help lower the cost of the loan for tax payers since the VA home loan does not require down payments or monthly mortgage insurance. This helps protect against foreclosure. This can be financed in the loan and added to the purchase price. For regular military borrowers with no down payment, the fee is 2.3%. The fee increases to 3.6% for borrowers with previous VA loans. For those with a down payment of 5-9% the fee is 1.5%. Any loans with a down of 10% or higher has a funding fee rate of 1.25%.

Can it be waived?

If you have been awarded VA disability the funding fee is waived. Funding fee rate of 1.25%.

Is there a cap?

The Blue Water Navy Vietnam Veterans Act of 2019 states the VA loan limit has been lifted. For those who do not have an existing VA loan there is no limit. However, if you have a current VA home loan your lender will determine your limit based on debt to income ratio and other qualifying factors.

What is my entitlement?

The dollar amount the Department of Veterans Affairs will guarantee on each VA home loan and helps to determine how much a Veteran can borrow before needing a down payment.

Rentals in foreclosure?

The VA loan is intended for primary residence use, however, if you have a change of duty station or want to upgrade or downgrade your current home, the VA does allow you to rent your home and purchase another. This is based on lender qualifications. The VA does allow the purchase of foreclosure homes. However, the VA will assign an appraiser who will verify that the house meets minimum VA requirements and typically foreclosures will not, making repairs subject to appraisal. Your real estate agent will guide you through this process.