As we show you in this video, start several months before the property is made available. Look through the eyes of a buyer What needs to be cleaned? Repainted? Repaired? Or tossed? Ask yourself - or a friend If you were buying this house what would you want to see? The goal is to show a home that looks good makes the most of it is assets like space and location and attracts as many buyers and as much demand as possible. Allow yourself enough lead time - not just a day or two - to make the most of the sale. And get help from a real estate agent - early.

Buyers generally seek the least expensive home in the best neighborhood they can handle. Like the guy in the video says, you want to present a home that fits in the neighborhood but doesnt stand out too much. For example if neighbors are all 4 bedrooms, 3 baths and 3000 square feet additions that make your home 5, 4, and 4000 will make yours harder to sell. Improvements should make it show well and fit well in the neighborhood. Last-minute capital investments in large structural changes arent likely to pay off. But cosmetic upgrades like paint and landscaping help a home show better and often do pay off. Of course, all systems and appliances should work to get a top price. To make your home competitive and attract buyers and bids work with a professional real estate agent and start early.

This video highlights the rules. If a veteran with a spouse purchases a home with a VA loan they are not eligible for another VA loan until that loan is paid in full. If the veterans spouse is awarded the property in a divorce settlement the veterans entitlement cannot be restored and they cant obtain another VA loan until their ex-spouse refinances the property and/or pays off the VA loan in full. If the ex-spouse is also a veteran they may be able to substitute their entitlement; consult with the VA for situations with this level of complexity.

As this video shows, you cant buy a farm unless it has a farmhouse that is a substantial part of the farms value with a VA loan. VA loans are specifically for the veterans residence. A VA loan for a farmhouse does not require that the farm be active - there is no farming requirement but if income from farming is part of proposed loan qualification the veteran will be required to show that the farm business can turn a profit. Check into Federal and state-level programs - such as the Veteran Farmers Project - related to veterans and farming; they may be of assistance in your decision.

As the video says - NO. Buying rental property may be a great financial strategy but VA mortgages arent intended for this purpose. The VA loan program started after World War II to help eligible veterans secure homes and that is still the primary aim. There are exceptions for houses still being built but the general rule with a VA loan is that you must occupy the house within 60 days of loan closing. So rental property loans will require conventional financing options based on income and credit.

As the video explains - under the right conditions, yes. Eligible veterans may qualify for another VA loan, if you completed payments your old VA loan or your prior VA loan was paid in full AND you no longer own the property. In either of these cases, you will need copies of the paperwork such as a paid-in-full bank letter or copy of the HUD-1 Settlement Statement. If you are still in the home you purchased with a VA Loan but at a prior high interest rate check into interest-rate reduction financing first which doesnt require re-establishing your VA loan eligibility - before pursuing a new VA loan.

As you will see in this video, discharge conditions can affect a veterans eligibility for a VA loan. Veterans separated with a dishonorable discharge may not be eligible. If your discharge state is other than honorable or was changed, modified or corrected you may be able to pursue an appeal with the help of the local VA office. Be sure to have copies of your DD214 - Condition of Discharge form and any documentation clarifying conditions or changes in your discharge status. Lenders may not be familiar with the process so getting assistance from the VA is advised.

When two or more veterans seek a VA loan additional rules and guidelines apply.This video explains the basics. Official VA guidelines state that strengths of one veteran related to income and/or assets may compensate for weaknesses of the other. BUT... satisfactory credit of one veteran cannot compensate for poor credit of the other. When one of the borrowers is NOT a veteran the guidelines are slightly different. In that case the income of the veteran has to be sufficient to repay their portion of the loan. Income strength of the non-veteran spouse cannot compensate for income weakness of the veteran in determining eligibility. Finally, for joint loans where any party besides the veteran and/or their spouse will hold title to the property VA review is required. The VA Lenders Handbook - VA Pamphlet 26-7 - has more details.

This video could save some veterans thousands. VA loan applicants pay a funding fee - as of 2014, 2.15% of the total loan amount - which can be thousands of dollars.Some veterans and spouses are eligible for exemption. Broadly speaking, veterans who received disability benefits - current or former and who are NOT currently in debt to the government may be exempt from the funding fee.Some spouses may qualify as well. The key thing to understand is, exemption from the funding fee is NOT automatic! Borrowers must certify their veteran status, government debt, benefits and active service stateon VA Form 26-8937. It is important to tell your mortgage company that they need to submit this form EARLY in your home-buying process - if they just look up your records without submitting the form the VA will not begin the review and approval process and your home purchase could be delayed by weeks.

The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most lenders have access to the system and can verify eligibility IF the VA has records on file. The VA also maintains a hotline for assistance. Surviving Spouses can use VA Form 26-1817 to request determination of their eligibility for VA Loan Guarantees. Your lender may be able to assist with processing or contact the VA for information this video did not address.