If I own a home I bought with a VA Loan, how do I sell the home and purchase a new home at another location?

(0) | asked by: tyrone thompson | share | 2 months ago | Report
2500 characters left
Answer Tips: Share your knowledge. Be on-topic . Refrain from self-promotion.
* Refer to our community guidelines.

Answers

Viewing Answers 1 - 10 of 10
answer by Rolf D Johnson    |   Contact Me
Tyrone: List Your home with the Realtor that has the best presence in Your neighborhood. If the Buyer is a Vet, he can assume Your loan or if the Buyer refinances, You are relieved from Your VA loan, on both cases, which will allow You to buy again, with a new VA loan. Which is Your right as a Vet! In Florida a Vet can buy up a single family up to $424k and up to $815K for multi family. Multi family is where You create real real estate wealth. Best of all is VA accepts the income on the units that are rented in Your qualifying. You MUST live in one unit which can be up to 4 units. All the Best!
0
0
Answer Helpful?
1 month ago  |   Report   |   share
answer by Eduardo Palacios    |   Visit My Website   |   Contact Me
Mr. Thompson, you may choose to sell your current home without the representation of a Real Estate agent, in which case you will be selling your home as a FSBO (For Sale by Owner). You may choose, on the other hand, to hire an experienced, local Real Estate agent to assist you in listing, marketing, and selling your home at the best price possible. The proceeds of the sale will be used to satisfy your current VA loan, and any excess amount from the proceeds will be given to you to help you purchase another home with a VA loan, FHA loan, or conventional loan. If you have any further questions or are in need of assistance, feel free to contact me and my team.
0
0
Answer Helpful?
1 month ago  |   Report   |   share
answer by Michael Williams    |   Contact Me
Place your existing home on the market. Please find a trusted Realtor. You VA loan benefits can be reused.
0
0
Answer Helpful?
1 month ago  |   Report   |   share
answer by Danny Pena    |   Visit My Website   |   Contact Me
Hi Tyrone, I would be happy to assist you. First, speak with a Real Estate Expert that services your area. I would suggest putting your home on the market first, to see how the market responds to your home, then finding the next home that you are purchasing and submitting an offer. It can be done with a simultaneous closing. I have a lot of experience with this. Look forward to hearing from you.
0
0
Answer Helpful?
1 month ago  |   Report   |   share
answer by Lynne Hale    |   Visit My Website   |   Contact Me
This is a normal real estate transaction. Contact your local real estate agent and they can list your current home for sale and assist you in purchasing another home (with another VA loan). When your home sale closes, your loan gets paid off. You would use another new loan to purchase the new home.
0
0
Answer Helpful?
1 month ago  |   Report   |   share
answer by Mary T. Boltron    |   Visit My Website   |   Contact Me
Hi! You can sell the home like normal. You can reuse your VA loan over and over again. I can point you out to a great loan specialist who is knowledgeable on how to handle VA loans. I work in the Orlando area and I do mostly Orange and Osceola county. Feel free to reach out if you have any further questions!
0
0
Answer Helpful?
1 month ago  |   Report   |   share
answer by Michael Thomas    |   Contact Me
I suggest speaking with a local agent. Are you aware that you can have 2 loans at time. You can do that until you figure out if you want to sell or possible rent your current home.
0
0
Answer Helpful?
2 months ago  |   Report   |   share
answer by Brian Pruden    |   Visit My Website   |   Contact Me
You can market this with your local real estate agent!
0
0
Answer Helpful?
2 months ago  |   Report   |   share
answer by Louise Fitzgerald    |   Contact Me
Once you sell your current home and payoff the existing VA loan, you should be eligible to apply for another VA loan to purchase your new home. I suggest that you find a lender that can provide you with a pre-approval for a new mortgage which will probably be contingent upon the sale of your current home. If your relocation is due to the military (orders), there may be exceptions and therefore, a knowledgeable VA lender is your first step.
0
0
Answer Helpful?
2 months ago  |   Report   |   share
answer by Kelly Goodman    |   Visit My Website   |   Contact Me
I would suggest hiring a real estate agent in your area, if you need assistance I would be happy to help. Are you looking to move out of state?
0
0
Answer Helpful?
2 months ago  |   Report   |   share
Please read Homes.com's Questions & Answers Community Guidelines.