Home-Buying Tips
Home-Buying Tips
Buying a house is probably one of the biggest purchases most people will make in their lives. Make sure you not only shop around for the best mortgage rate, but for a lender that you feel comfortable asking questions. We have actually used the same lender twice now because he made us feel so comfortable asking any and all of our questions. As we went through the process both the first and second time, there were terms that we didn’t understand, but since we were comfortable asking our lender questions, we were able to move forward and feel completely secure in the process.
The VA loan is also one of the biggest military perks, and if you or your spouse is a disabled veteran your funding fee could be waived (which can be a significant amount of money). We love the outdoors and in our next home we look forward to having a large yard and spending even more time outside together, as pictured here.
MilSpouse Money
Mission Response:
Thanks for sharing your experience Dulce! Buying a home is a major purchase and many factors can weigh in on your plans. Dulce makes a great point to shop around for the best mortgage rate and understand the process and terms. First though, let’s take a step back to evaluate how a home purchase may impact your financial situation. Our section, Five Rules of Buying a House, is a great place to start. Understanding your financial situation and what you are able to afford is key as you begin the home-buying process. Strive to keep housing costs to 25% or less of your pre-tax pay, remember this includes the mortgage, utilities, taxes, insurance, and maintenance costs.
Service members and veterans may be eligible for unique benefits, such as a VA loan. Click here to find out more about VA-backed home loans and see if it is the right fit for you. Research potential lenders to ensure the company has a strong reputation while offering competitive rates and service.
