One increasingly common mortgage option in Arden Hills for home buyers is available through the VA. This type of mortgage financing has increased by about twenty per cent over the last couple of years due in part to the sheer number of our returning veterans. Additionally with the loss of other options for zero down payment loans in Minnesota, the VA offers a benefit that offers eligible buyers a unique opportunity to buy their home with no down payment.

Arden Hills VA Loans: Not Just For First Time Home Buyers

Many veteran home buyers misunderstand the fact that they may use their VA eligibility benefit more than once. As a result veteran buyers do not necessarily need to be a first time user in order to get VA loans with zero down payment. This can be a great solution for current homeowners who want to sell their existing home to buy another but who don't have a lot of equity in their home. Since they will be able buy their next home with no down payment with a Minnesota VA loan they can more easily sell their home despite receiving no proceeds from the sale.

Arden Hills Veterans: Get Your Certificate of Eligibility

Veterans must first determine 2 things to see if they will be qualify for a VA loan. First they should research if they are eligible for a VA Certificate of Eligibility (COE). They can apply for this online or through their mortgage lender. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online

While Arden Hills VA home loans require zero down payment, there still are closing costs which the veteran must pay in order to get the loan. To address this issue, the VA allows the buyer to negotiate with the seller to pay their closing costs. This is an extremely common strategy used to buy Arden Hills real estate today and most sellers have been prepared by their real estate agents that they will need to pay these costs.

Arden Hills VA Mortgages: Get Preapproved Early

A second thing a Arden Hills veteran home buyer should determine is if they can get prequalified for a VA loan. I encourage all veterans to talk with a local mortgage lender to get preapproved for MN VA loans before we go out shopping for Arden Hills homes. By going through the preapproval process the banker will review your financial situation to determine if you meet the requirements for VA financing. This critical first step is usually done at no charge and requires no commitment to buy on the part of the buyer. In fact, many Minnesota VA mortgage bankers will do this right over the phone, even on weekends when you're off work.

Information About Arden Hills

Conveniently located in Ramsey County, the City of Anoka is just a short distance away for those residents working in either of the Twin Cities. Home to the headquarters of Land O' Lakes and the Catholic Aid Association there are plenty of employment opportunities in Arden Hills as well. With a population just under 10,000 Arden Hills has a small town flavor, but has all the benefits of a suburb to the Twin Cities. Anyone who is a MN first time home buyer may benefit from the Ramsey County First Home program to help with funds need for a down payment. If you are searching for Arden Hills real estate please visit my website for more information.

Arden Hills Veterans: Are You Ready To Buy A Home?

If you want to buy a home in Arden Hills using VA financing please send me an email or give me a call. Whether you currently own a home or are looking to buy your first home, Arden Hills VA loans can be a great way to buy a home. With interest rates at record lows combined with reduced property values many veterans are finding that it is cheaper to buy a home than to rent!

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury real estate and surrounding communities.