How Jumping out of an Airplane is Like Getting a VA Loan
So, you’re ready to take the jump — out of a plane or into the home-buying process. If you’ve jumped out of a plane, you know the steps involved: the preparation and training, the planning and coordinating. There many moving pieces to take care of before you’re ready to jump, and there is little margin for error.
Getting a VA loan isn’t so different. There are boxes to check off and requirements to meet. And just as with jumping out of an aircraft, there is significant value in working with someone who knows the ropes, the risks and how to best prepare you for the ride of your life.
Here are five key steps you won’t want to forget:
1. Determine if you’re ready to go
When it’s time to leap out of an aircraft, you have to make sure you have both the equipment and training necessary for a successful jump. After all, not just anyone can make that jump — people train their whole lives to become experts. There are rules and guidelines to follow. Are you ready? Similarly, when it’s time for you to buy a home and you’re thinking about using a VA loan, you have to establish your eligibility for receiving a loan from a private lender.
One of the common myths surrounding VA loans is that most veterans aren’t eligible. But this couldn’t be further from the truth. Veterans, active service members, reservists, National Guard members, Public Health Service officers and surviving spouses may be eligible for home loan benefits.
2. Ensure you have the right tools and team for the job
You can’t jump from an aircraft without having all the right tools at your disposal, ready to go. You need an expert who knows the entire process from initial planning to preparation to landing — someone with knowledge of the tools and processes that will guarantee your safety and who can take care of the backend processes so all you have to do is show up, jump and pull the cord.
It’s no different when you are researching lenders: you need an expert who can help you throughout the entire loan process, from establishing eligibility to qualifying for a loan to closing on your new home. The right team will make sure you have everything you need, provide user-friendly tools to make the process easier and help you avoid common pitfalls.
3. Leaning on the Experts
This is where jump masters and riggers come in. riggers ensure that your pack is inspected, folded and packaged correctly before you even get on the aircraft. The jump master plans and coordinates the operation, conducts training, inspects jumpers, identifies flight reference points and ensures proper safety and control during exit. Together, jump masters and riggers keep you from making a costly mistake.
When it comes to using a VA loan to buy a home, think of your mortgage lender as your Jump Master and Rigger. They help you determine if you can establish eligibility and walk you through the qualification process, to ensure that buying your home is as easy as possible.
4. Final Inspections
Before you’re ready to jump, you have to undergo a final inspection to make sure that your pack is ready for deployment. Your rigger will inspect all of your equipment before you step on the aircraft, correcting any deficiencies and adjusting your harness as needed. The jump master will inspect your helmet and parachute for proper fit and serviceability, as well as the parachute door, jump platform, wind deflector and rear of the aircraft. And when you’re on the aircraft, the jump master ensures that you exit safely.
Similarly, your mortgage lender will help you navigate the appraisal and home inspection processes to make sure that your new home is structurally sound, safe and ready for you to move in.
5. Jumping and Landing
Once your equipment is inspected and the jump master has given you the all clear, you’re ready to jump. You exit the aircraft, check your body position, open your canopy and prepare for landing. And if you’re using a VA loan and you’ve established eligibility, qualified for the loan, completed the appraisal and home inspections, you’re ready to close on your home and move in. There is nothing like that feeling.
Homebuying and securing your mortgage can be a daunting process but fortunately with trained experts focused on VA lending and supporting military families, you can enjoy the excitement without the fear.
Ready to jump? We’re here to help: info@goVAloans.com.
The information contained herein (including but not limited to any description of TowneBank Mortgage, its affiliates and its lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. This is not a commitment to lend. NMLS #512138