As a Veteran myself who has used the VA Loan Program, I understand the value it provides.
Thousands of veterans live in Ocean County, and over 450,000 veterans call New Jersey home. For veterans and service members planning to purchase a home in Ocean County using a VA home loan, a termite inspection is required. For properties that are new construction, the builder is required to provide an approved Home Owners Warranty policy, which can be accessed through the New Jersey home insurance program.
The average home cost in Barnegat is $275,000. Home appreciation over the previous twelve months has been 7.63 percent. Disabled veterans in New Jersey qualify for a full property tax exemption if they are 100 percent disabled.
Some Highlights:
- The VA loan guaranty program does not impose a maximum amount that an eligible veteran may borrow using a VA loan but limits the maximum guaranty amount to $453,100 for 2018… but in it’s Ocean County $679,650.
- A down payment is not required on VA loans. However, the veteran has to pay for closing costs, or receive enough seller or lender credits to cover them. VA loan closing costs average around 1% – 3% of the loan amount on bigger home purchase prices, and 3% – 5% of the loan amount for less expensive homes.
- Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership.
- In 2017, $188 billion was loaned to veterans and their families through the program.
- VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.
Karl Hess & Keller Williams Shore Properties provides expert real estate services to residential buyers and sellers in Barnegat and the surrounding area. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market.
As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, Keller Williams Shore Properties - #1 Real Estate Office in Ocean County
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