One increasingly common financing option in Vadnais Heights for Minnesota 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 increasing number of our veterans returning from the service. 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.

Many veteran home buyers misunderstand the fact that they may use their VA mortgage benefit multiple times. As a result veterans do not necessarily need to be a first time buyer in order to use their VA eligibility. This can be a perfect solution for current homeowners who wish to sell their home despite having a small amount of equity expected from the sale of that 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.

First Step for Vadnais Heights Vets: Determining Eligibility

Veterans must determine two things to see if they will be eligible for a VA mortgage. First they must see if they are eligible for a Certificate of Eligibility through the VA. They can apply for the Certificate online or more simply right through their Minnesota mortgage banker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online

While VA mortgages require no down payment, there still are closing costs in Minnesota which the veteran is responsible for. To address this issue, the VA allows the buyer to negotiate with the seller to pay their closing costs. This is a common strategy used to buy a home today and most sellers have been prepared by their real estate agents that they will need to pay these costs.

Vadnais Heights Veterans: Get Preapproved

The second thing a veteran must 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 a home. When you go through the preapproval process the banker will review your credit, income, assets, and debts to determine if you meet the VA’s requirements for financing. This important first step is usually free and requires no commitment on the part of the veteran. In fact, many Minnesota VA mortgage bankers will do this right over the phone, even on weekends when you're off work.

Vadnais Heights Community Info

Located just north of downtown St. Paul, Vadnais Heights ,MN is a beautiful smaller suburb in the Twin Cities Metro. With an easy 20-minute commute to all of the attractions of the larger city, residents here also enjoy the feel of small Minnesota town. Living in Vadnais Heights means you'll have easy access to more than 100 acres of parkland spread across 14 city parks. With plenty of affordable housing, MN first time home buyers may benefit from the Ramsey County First Home program. If you are interested in buying or selling a home in Vadnais Heights please give me a call.

If you are a Vadnais Heights veteran and are interested in buying your first home please send me an email or give me a call. Whether you have a home to sell or are ready to buy your first, Vadnais Heights VA loans are a great way to buy a home in today’s market. With rates at record lows combined with lower 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.