Ensure Your Home Purchase Offer is Accepted With Our VA Loan Review

VA loans give you many advantages that other loans cannot offer including government backed loans like FHA. When buying a home with your VA home loan benefit, no down payment is usually required, there is no monthly mortgage insurance (not to be confused with homeowner insurance) and, you can even prepay as much of the loan as you want without being penalized. However, after obtaining a VA eligibility certificate, you have one more hurdle to cross: getting your home purchase offer accepted by a seller.

Here are some valuable tips to help you purchase a home successfully with a VA loan.

Get a HomePromise VA Loan Review of Your Qualifications

A VA loan review by HomePromise before making an offer at the purchase price requested by a seller may give you an advantage over other home-buyers. Our review helps you as the buyer to negotiate on level terms with the seller. The HomePromise loan review process results in a letter detailing your qualifications to purchase a home and gives the seller the confidence that you are a serious buyer, and accepting your offer will not lead to a prolonged or aborted transaction.

To get a VA loan review by HomePromise, approach your HomePromise VA loan specialist with details about your credit history, your income and other assets you have.

Although veterans can enjoy the privilege of obtaining a VA loan even after foreclosure or bankruptcy, it is better to maintain a credit score of 620 and above to ensure that you enjoy better loan conditions and lower interest rates. Then include a HomePromise letter with all your VA loans purchase offers.

Avoid Homes in Poor Condition

One cardinal rule is: all homes to be financed by a VA loan must be in move-in ready condition. The condition of an acceptable home is specified in the minimum property requirements for a VA loan. Unfortunately, this sometimes makes sellers nervous. So, you should go for homes that require very minimal repairs. This means the kitchen, plumbing, roofing and other vital parts of the home must be in good repair and functioning properly. A final walkthrough is an important step during the home buying process before you purchase the home to be sure any repair issues have been resolved. Remember that before your VA loan is finally approved, it will be inspected and appraised by a VA approved appraiser. During the home inspection and home appraisal process, the inspector or appraiser will also look for structural issues that they can see visually.

Make a Competitive Offer

Avoid pushing the home seller to the wall by making a realistic and competitive offer. Start by obtaining accurate estimates of the current price of the type of home you want to buy. You should also speak to the experienced military-friendly mortgage experts at HomePromise before you negotiate with the seller. Since the home will need to be in move-in ready condition, it is important to factor in some of the repairs required into your offer. Then decide if you can undertake those repairs or whether the seller will be willing to do the repairs and factor in the costs into the selling price. Also, ensure that you are aware of all the closing costs involved and that you will be able to meet all necessary requirements within the closing time-line.


VA loans to purchase a home now enjoy better acceptance because the transaction process is much easier than it used to be. To obtain more detailed information about your VA loan eligibility and the procedure you should take to ensure that you can easily buy a suitable home with your VA loan home benefit, consult a HomePromise VA loan specialist today.

When you call us, please have on hand any other pre approval notifications you have, any scheduled closing date information, your escrow account information, any sales contract(s) or purchase agreement(s) already signed, a copy of your earnest money deposit check and your real estate agent’s name.

va loan requirements, va loan review, va loans

VA Loan Requirements

The VA Home Loan benefit is one of the most significant benefits for active military members and Veterans. A VA Home Loan comes with financial benefits for qualified Veterans. The VA loan income guidelines and credit score for VA loan approval are more flexible than other home loan programs. For many Veterans, the VA Home Loan benefit is their only option for owning a home.

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