Home-Buying Help for Veterans

 Posted on January 24, 2024 in Real Estate

If you are a veteran or an active-duty service member, you may qualify for a housing loan through a special program offered by the Department of Veterans Affairs. Navigating this program, however, can be a bit challenging. If you plan to buy a family home using a VA loan, enlisting the aid of a qualified Greenwich, CT, real estate lawyer may be extremely helpful. 

The home you purchase must meet certain minimum standards. A real estate agent working alone may struggle to understand the process or the requirements. An attorney can help you ensure that everything is in order and that your home-buying process goes smoothly. While a real estate agent may not identify title defects or other issues that could block the sale, an attorney can conduct detailed research on the property you are considering. We take special care when working with our veterans and active-duty military members. 

Benefits of VA Home Loans

Using a VA home loan offers multiple benefits, including: 

• No down payment is required

• You pay low or no closing costs

• Interest rates are usually below market value

• Your home will be inspected carefully, so you can be sure you are buying a safe property that is in good repair

How an Attorney Can Help 

The property you purchase must meet certain standards. The requirements set out by the VA loan program can be difficult to understand, and sometimes difficult to meet. Ways an attorney can help you include: 

• Negotiating for repairs - Often, the VA will require certain repairs to be made before they will finance a home. This is to ensure that veterans and service members receive a home in good condition that will not require any major costly repairs. If you find a property you like that has a defect that may not meet VA standards, an attorney can negotiate with the buyer on your behalf and may be able to convince a seller to bring the property up to standards for you. 

• Identifying issues before you put money down - The last thing you want is to pay hundreds for an inspection or put down earnest money only to learn that the home you want does not meet minimum standards. An attorney can read and understand the complex requirements and spot potential issues before you incur out-of-pocket costs. 

• Working with inexperienced buyers - Many buyers who take advantage of VA loans are first-time homebuyers. It is common for veterans to purchase their first home after leaving the service, when they are ready to settle down in one location. Our attorneys are experienced in protecting first-time and inexperienced buyers. 

An attorney can help protect you and your finances during your home-buying journey. 

Contact a Metro New York Area Real Estate Lawyer

Ivey, Barnum & O'Mara, LLC is dedicated to helping veterans and those who serve find their ideal home. Our experienced Greenwich, CT, real estate attorneys will do all we can to give you the smoothest and simplest home-buying process possible. Contact us at 203-661-6000 for a complimentary consultation.