From one veteran to another
I served in the U.S. Air Force at Beale, and Sacramento has been home ever since. I like working with veterans, and I know the VA loan well.
The integrity and service of an Air Force veteran.
That line is in my bio because it’s true. I joined the Air Force at 18, was stationed at Beale, and never left the Sacramento area.
A VA loan is one of the best benefits you earned, but it isn’t right for every house or every offer. I’ll walk you through the real pros and cons, so you use it where it helps you.
Pros and cons
- 01
Pro · No down payment
Eligible veterans and service members with full entitlement can often buy with nothing down.
- 02
Pro · No monthly mortgage insurance
Unlike most low-down-payment loans, VA loans don’t carry PMI.
- 03
Pro · Reusable
You can use the benefit more than once over your life.
- 04
Con · The funding fee
Most borrowers pay a one-time VA funding fee, which can be rolled into the loan. Veterans receiving VA disability compensation are generally exempt.
- 05
Con · Stricter appraisal
The VA appraisal checks minimum property requirements, so some fixer-uppers need repairs before closing. We plan for that when we pick houses.
- 06
Con · Seller perception
In a competitive situation, some sellers worry VA offers are slower. A clean, well-presented offer and a call to the listing agent usually solves that.
Can I buy a home in Sacramento with no money down using a VA loan?
Often, yes. Eligible veterans and service members with full entitlement can buy with no down payment. You’ll still have some closing costs, which sellers can sometimes help cover.
What is the VA funding fee?
A one-time fee paid to the VA that helps keep the program running. It can usually be financed into the loan, and veterans receiving VA disability compensation are generally exempt. Your lender will confirm your exact amount.
How do I get my Certificate of Eligibility?
Your lender can usually pull your Certificate of Eligibility (COE) for you online in minutes. You can also request it through VA.gov.
Can I use a VA loan more than once?
Yes. The benefit can be reused, and in some cases you can have more than one VA loan at a time. A VA-experienced lender can check your remaining entitlement.
What are the VA loan inspection and appraisal requirements?
A VA appraisal checks the value and the VA’s minimum property requirements, which cover things like a sound roof, working heat, safe water and no major hazards. It isn’t a home inspection, so I still recommend getting your own. Your lender and the VA appraiser confirm what applies to your property.
“He responded promptly, explained complex concepts simply and let me know what to expect at every stage. I never felt overwhelmed, I felt in control.”
“Joe is incredibly responsive, and we never had to wait long for a reply to any question or concern we had.”
Keep reading
First-time buyers are my favorite clients. You’re excited, you have a hundred questions, and I have the time to answer every one.
Read more BuyersI explain every step before it happens. You’ll always know where we are in the process.
Read more RelocationI like being a tour guide of Sacramento. If you’re coming from the Bay Area, or from much farther, I’ll help you find the neighborhood before you find the house.
Read more Next-home buyersSelling and buying at the same time is two transactions that have to land together. I’ve done it for several clients this year alone.
Read moreThank you for your service. Let’s talk.
Tell me where you are in the process. I’ll tell you how to make the most of your benefit.
“The best part of this job is helping people on a human level.”Joseph Olson
- Call / text(916) 835-2968
- Emailjosephao@gmail.com
- OfficeColdwell Banker – Sierra Oaks
2277 Fair Oaks Blvd, Ste 440
Sacramento, CA 95825