San Diego military home buyers and VA loans

San Diego military home buyers and VA loans – The decline in house prices coupled with low interest rates have motivated many military members to buy a home in San Diego using the their VA benefit. The peak in interest have not only come from those relocating to San Diego on PCS orders but from those members already residing in base housing. The main reasons many give for wanting to move off base is due to privacy, pride of ownership and wanting to take advantage of buying a bargain home with a VA loan.

In today’s housing market, the qualified veteran is the only individual that can buy a home with zero down and pay NO mortgage insurance. There is a small funding fee charged by the VA but it can be financed with the loan. The funding fee was recently reduced making it even cheaper to borrow money using the VA benefit.

I often hear from military members once they get a true understanding of the financing and housing market that it “makes sense for a military member to buy a home than to rent.” That it’s better to put the housing allowance to good use than to pay someone else mortgage. While it’s great that the government provides housing there’s no other feeling than knowing you own a piece of the American dream.

Where to start the process of getting a VA loan?

My recommendation is to get pre approved with an experienced lender who has knowledge of qualifying veterans for a VA loan. This is important and can be costly in the long run if the lender lacks the experience. It makes perfect sense to also shop around and compare lenders. The popular military financial institutions like Navy Federal and USAA may not always offer the best price and customer service.

Work with an experienced real estate agent!

To complete the process of purchasing a San Diego home with a VA loan, I highly recommend partnering with a local real estate agent who specializes in working with military families. An experienced agent can save you time and money by knowing how to negotiate the best possible deal. The difference in having an expert negotiator knowledgeable about VA financing can put more money in your pocket than ANY advertised money back offered by the such financial institutions as Navy Federal and USAA.

Lorraine Santirosa is a San Diego realtor that specializes in helping military families buy and sell their home. Lorraine is fondly known as the “VA Queen,” and is a former Navy spouse of twenty years. Her passion for helping military families is demonstrated in her efforts to change the VA appraisal guidelines.

Whether you are a first time home buyer or a member of the NAVY, ARMY, Coast Guard, Marines, or Air Force  – Lorraine can help. 619-248-5484.

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