The Military Homebuyer – From PCS Orders to Moving Day

Life in the military can be both fulfilling and complete with constant change. Pulling up stakes every few years for a new assignment can disrupt the family and feel a little like a nomadic life.  When you get orders for a PCS, it can be really exciting. Plus, that's defining for military life.

But what if that permanent change involves doing something big, like buying a house, for example?

That in itself can feel like quite the change, and it oftentimes feels overwhelming, especially if you involve financing. The military hasn't taught you that, nor are you prepared for all this processing and paperwork. Not this type, anyway.

So, what do you do? How long will all of this take? And where do you even begin?

Below, you can find a timeline that will break down the process into clear, manageable steps that'll help you smoothly go through your homebuying' mission.'

The Moment You Have Orders (T-Minus 4-6 Months)

Okay, you have been given the green light, so phase one is to lay the groundwork.

• Financing: You need to find a mortgage lender. You can get pre-approved, so you know what price range you can afford. Locate a mortgage lender experienced in handling VA loans, and they can walk you through the whole step-by-step VA loan application process. Remember, you'll need to obtain your Certificate of Eligibility (COE), and the lender can assist you with this process.
• Shopping: Research the housing market. This is a good time to involve the family, as their input will affect choices:
  • Location of the base from the home
  • School districts
  • Amenities nearby
  • Sport Facilities (gyms)
  • Safe area
  • Now you need to make contact with a realtor. If you are making a move to Colorado, for instance, make contact with a realtor who has worked with military relocations before; they'll understand the short turnaround time and pressures you're facing.
• Documentation: You are under some pressure, so gathering your documents now will speed things up for you.
  • Two years of tax returns
  • Two months of bank statements
  • Leave and earnings statement
  • Your DD-214 (if applicable)

House Hunting & Making an Offer (T-Minus 2-3 Months)

Armed with your pre-approved letter in hand, you can search earnestly and can even make an offer.

• Virtual Tours: This is the best way for you to make a house visit, without visiting. Request video tours from your real estate agent to get a detailed look at the property without having to visit in person. If your partner is free to browse, ask them to do the same and highlight things about the neighborhood, even talk to the potential neighbors.
• MPRs: The agent must be aware that the VA loan has minimum property requirements that may affect the types of homes you can consider.
• The Offer: Time is of the essence, but your pre-approval letter will go a long way to securing the offer. Your agent will determine what the seller is willing to accept as an offer and, if possible, strive to be as flexible as possible in negotiating.

Looking for Your Dream Home in Colorado?
Let us help you. Call or Text Kenna Real Estate Group at 303-955-4220 to get personalized assistance from our expert real estate agents. Find out what your home is worth in today's market.

The Loan Process & Appraisal (T-Minus 1-2 Months)

The offer has been accepted, so things are now moving quickly.

• Loan Application: Tidy up any loose ends by filling out the whole loan application and submitting all required documentation.
• VA Appraisal: The VA sends an appraiser to determine the home's value. However, unlike regular mortgages/loans, the VA also needs to assess whether your home meets MPRs (e.g., a sound roof, functioning HVAC, no safety hazards, proper plumbing and water, electricity, and a stable foundation). The appraisal protects you from overpaying for a (potentially) defective property – so it's also in your own best interest.
• Because what do most of us really know about how a house is supposed to be built properly? We'd likely miss most of the red flags that would ultimately haunt us later.
• Home Inspection: This is suggested to all homebuyers. This assessment will evaluate the home's construction and condition, providing a basis for further negotiations with the seller.

Closing & Final Walk-Through (T-Minus 1-2 Weeks)

You can see the finish line.

• Clear to Close: Your lender will issue a 'Clear to Close' notification, which means the underwriter has approved all necessary items. You will receive your CD (Closing Disclosure) to review and compare to the original Loan Estimate.
• Final Walk-Through: On the day of closing, conduct a final walk-through (or have someone you trust do it) to ensure everything is in order, there are no surprises, and all items are as agreed upon and as they should be. Additionally, verify that any conditional repairs have been completed.
• Closing: It's not always possible for you to be present to close, but a significant benefit for military families is the ability to close via power of attorney or remote online notarization.

Moving Day & Beyond (T-Minus 0!)

So, you've finally got the keys in your hands.

If you're very excited (and glad that's finally over), but you aren't really sure where to go next with the 'moving process,' then there are some helpful and detailed guidelines provided by the U.S. Department of Defense's Plan My Move portal. So, start there.

To get you started with the basics, we'll cover three main points to consider right now.

• Logistics: Pick your move-in date and work from there. Weekends are usually best. Contact a moving company to work out all the details regarding your HGG pickup/delivery, including furniture, items, boxes, etc. (if unsure about the move date, you can ask the moving company for more details/advice on the specifics).
• Address Changes: Notify the USPS of your address change and arrange for mail to be forwarded to your new address.
• Home: Get a feel for the community by taking a walk around, seeing how it feels, and take pride in your new home. You've earned it!

Conclusion

The VA loan process within PCS is no longer a short sprint.

However, when you know what's expected, what papers are required, and build a team of professionals who understand the entire moving process for military personnel, it becomes easier. It's much easier to turn all that stress into 'mission accomplished'. You know what your objectives are, and you know that it needs to be done. And THAT makes a world of difference.

Welcome to your new home, Soldier.

Related Articles

• A First Time Homebuyer's Guide To Mortgages
• Navigating Home Buying Services in Baltimore Made Simple
• Top Benefits of Buying a Home in Colorado | Kenna Real Estate Group