Taking into consideration all the limitations to the criteria for this sweet young couple buying their first home in San Jose, this was amazingly smooth…like amazingly smooth! And, to have such a smooth loan process in the current market conditions is just incredible. This adorable couple were VA buyers and the wife was practically 9 months pregnant when we met and they wanted to find a home to buy ASAP. Also, they have a very large dog that exceeds 100 pounds. And, their price range was in the townhome range and couldn’t quite afford a single family home where they wanted to live.
So, the combination was to find a VA approved townhome community, which is nearly impossible since very few people even utilize VA loans, so very few communities are VA approved. And, we needed to find a townhome community that would allow a 100+ pound dog, which is also hard to find, in that a lot of communities have a cap of 25-50 pounds for an animal. And, location and commute was an important factor as well. Plus, sticking to the price range. So, a very hard criteria to fill, but we did it!
We only viewed homes I believe in 2 appointments, maybe 3, and they found this home. Well, they actually found another home they liked in another community that was very close to this community, but that community had a limit to I believe 50 pounds for a pet. This is a great place for them in a great community and it was just so exciting to find out that the community was VA approved, had no cap on weight for an animal, and the home itself was in great condition and in their price range.
I was very impressed with the lender who processed the loan…yes, I said it, I was actually impressed with a lender that did the loan! In many cases, it takes 45-60 days for a VA loan to be processed and a lot of headache to go with it. But, this lender does a lot of these loans and was able to close the transaction in 30 days. A 30 day closing for a VA loan! Amazing! The buyers only had to come out of pocket about $500 to buy this home. No, that is not a typo, literally, they only had to pay about $500 to buy a home! The VA loan is a great loan for those who qualify. It is 100% financing, plus the buyer can ask for a seller credit, and essentially need almost no cash to close and don’t need the normal reserves either. The VA loan seems to be the only loan left in which a buyer can buy with almost no money at all.
The wife actually had her beautiful baby boy during our transaction, but it didn’t stop her from making all the appointments relating to the home buying process and/or emailing/faxing all the documents for the transaction. She is a true trooper! And, now they are very happy homeowners in their first home.
