light at the end of the tunnel….what’s that?

There were 2 pressing things that Husband and I had to do first in order to get this home-buying ball rolling.

First – we had to submit our application for approval of eligibility for a VA Loan.

The VA – or the Veteran’s Affairs – Loan is not actually a loan. BUT! It’s this really cool certificat-ey type thing that basically says that if Mr. & Mrs. Fancythis default on their loan, (EEK!) Veteran’s Affairs (aka the government, aka, that means you if you pay taxes, and thanks if you do!) will take on the burden rather than the bank.

For the record, we don’t actually plan on defaulting on our mortgage, so I really hope that your hard-earned tax dollars will not go toward this particular purchase. First of all because that would mean that my husband lost his job or something equally as horrible, but secondly, because, well, I’m sort of of the belief that the government/the people shouldn’t have to bear the burden of my, well, burdens. But that’s another post entirely.

The second thing that we had to do was meet with a Realtor that a guy in our church hooked us up with. I will say first and foremost that because I trust the man in the church, I therefore trusted the Realtor. But after our meeting with him, I realize why I trust the Realtor all the more. He was completely honest, didn’t sugar-coat anything, and told us what we needed to know for the particular stage that we’re in. In other words, he was wonderful. It definitely made the impending largest ever purchase of our lives seem a little less scary. Which is nice.

However – isn’t there always a “however”? – the aforementioned VA Loan application for eligibility can take up to 3 WEEKS to process and then arrive. And I found a house (THE house?) that I love, LOVE, LOVE, and in my impatient-ness, I’m super-concerned that it won’t last on the market for another three weeks (because, you know, the market is just hopping right now) and then we’ll lose it, and how devastating will that be?


We just started this whole thing and already I’ve bitten all of my nails off and now I’m acting frantic.

Next up – finding a lender. That oughta be entertaining.


3 Responses to “light at the end of the tunnel….what’s that?”

  1. 1 melissa May 18, 2009 at 8:50 am

    1. breathe
    2. there will always be another house. its hard to remember that when you’re in the emotional rollercoaster of real estate (as we are right now!) but there will.
    3. try absolute mortagae – they’ve had the best rates we’ve found. ( and if you give our name as a referral you get $200 off closing costs. we talk to bill.

  2. 2 momlovesbeingathome June 3, 2009 at 9:19 am

    I’m really enjoying reading your blog! I had to stop on this one and comment because we’ve been here and done that. ;) We got a VA loan when we bought our house three years ago. Just to prepare you, it’s kind of a nightmare to deal with them!! (Or maybe things are already going smoothly for you I hope!?!?) Anyway, it’s a pain to go through all the paperwork they require but in the end I guess it’s a much better deal than a traditional loan. That’s what we were told anyway. :) Good luck with your home-buying process!!

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