Do you have the great opportunity to take advantage of a VA loan? If so, we are here to help you at Patriot Home Mortgage. After your hard work providing an invaluable service to your country, you deserve to make the most of this benefit that the U.S. Department of Veteran Affairs is offering. We can help walk you through the entire application process from start to finish.

Veteran home loans are a particularly great style of mortgages. They offer unique benefits, such as no money down necessary in some situations and great rates. If you opt to use this loan, you want to do so wisely. One of the biggest questions you’ll be facing is “what property do I purchase with my VA loan?” We are here to help make that process a little simpler. Check out these tips for choosing the right property to utilize your veteran home loan for.

Think About The Future

Perhaps one of the most important things to consider when purchasing a home is where you see the future taking you. While no one has a magic eight ball that can tell them precisely what will occur down the road, most of us have a decent idea of what our goals are and where we hope to be in the next decade.

Unlike renting a home, when you make a purchase with your VA loan, you are committing on a deeper level to the property. It is easy to end a lease, find a new rental, and move around. It is much, much harder to do this once you buy.

Keep in mind as well that you can only use a VA home loan for a property that will be your primary residence. For this reason, you need to think about how long you plan to live in your current location. Do you want to switch jobs soon to a different city? Now might not be the time to buy. Do you plan to have kids in the future? Consider that extra space you’ll need as you shop the market.

Understand Your Absolute Musts

Once you have a good idea of how you plan your future to go, it is time to create a list of must-haves for your home. It is easy to get carried away as you view properties and look at the price tags on homes, but having a clear idea of what you want from the place you purchase can help prevent buyers regret.

For example, if you plan to have kids, a third bedroom might be a must-have. Maybe you or your spouse work from home. In that case, having a good office space might be a non-negotiable. Think about what you expect from your new property in order to prevent regret later.

Be Open To New Ideas

On the flip side of your list of must-haves is the ability to flex on less important aspects of the home. In some cases, you can get too carried away with your non-negotiables and wind up making it impossible to find a property you can afford.

Consider new ideas, new neighborhoods, and properties you may have been tempted to immediately write-off. This can help widen your search and land you with a home you truly love.

Consider Your Budget Carefully

Lastly, while a veterans home loan makes it much more affordable and attainable to become a homeowner, don’t get carried away. Make sure you are carefully considering what you can afford in payments in each month. This will keep you from facing financial hardship down the road.

For example, do you rely on dual incomes to afford your home? If so, make sure that is a sustainable plan for both you and your spouse. Are you at the top of your budget? Think about the fact that you will be responsible for major repairs. You don’t want to overdo it on your budget or you could wind up in a bind if any small thing goes wrong.

Talk To Our Team Today

Here at Patriot Home Mortgage, we are here to help you find the right mortgage for your needs. If you are eligible for a VA loan, we invite you to reach out to our team. We will work with you to get the most out of this excellent VA benefit.