Five Issues Veterans may run into when Buying a Home in Carlsbad

When veterans are looking for homes in Carlsbad, many home buyers and agents stay away from the Department of Veteran Affairs because of the restrictions could be at a large number and very difficult. Veterans don’t have to fall into this pool of misconceptions when searching for a mortgage for their home according to an article in

Although even though this maybe be the case, government mortgages are the most flexible. It’s becoming a lot tougher these days for veterans to qualify for the Federal Housing Authority, but the Veteran Affairs (VA) has boomed as large as 370 percent since 2007 – recording a record 630,000 in 2013.

The VA loans have advantages, but they also have very particular requirements. These are five setbacks that veterans should avoid


The primary residence must be the home you are going to live in to receive a VA loan, meaning it can’t be rental or a vacation property, but you can still rent the property out to others.

In most cases, veterans have to be transferred from one location to another. After you’ve purchased and occupied the home in Carlsbad, for some time, you are not prohibited to rent. Two or more VA loans could be active at once so you could keep the home that you’ve already purchased as well as be able to assist you when buying your new property.

Unfavorable credit history

There is no credit history requirement, because they don’t make a difference in whether you receive the loan or not. Most lenders who do care about that, need you to have a minimum of a 620 credit history. Some lenders like the FHA want 690 for their credit score, while other conventional lenders need your history to be at 740.

Repairing your credit score before you buy, could benefit you.

Affordability and an Ability to Repay

Even though there is a no-down payment necessity, the VA loans is considered the safest mortgage.

Affordable homes was the standard excepted by lenders. Although this used to be the case, the VA wants to verify that you have enough money to make repayments to not only the mortgage, but other bills, unexpected expenses, etc.

The income is based on geography and family size.


You can’t purchase a home in perfect condition with a VA loan, but it must meet the property requests of security assurance, sound and cleanliness.

To move the sale forward, smaller property requirements makes the process go faster. If you’re looking to move even faster, you could find the agent that is an expert in finding move-in ready homes that include supplies to remedy issues earlier in the procedure.

Manufactured Homes

Comprehend that there will be a tough route ahead if a VA benefit is used to buy a manufactured home in Carlsbad. Stay clear of these types of properties. If your credit union sees a particular method that works in your finances, you could conveniently manage your loan.

Buying a manufacture could be guaranteed, but with the right researching of mortgage to prepare for trial and error.

Thank you for your service!

By Linda Moore

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