Profile picture for BrianO07

Military, single, first time buyer, student, and not an AA native...I need advice!

Hello! I'm a 23 year old male looking to move to the AA area for school, I'll be getting out of the military in December, have zero debt, and a decent chunk of cash saved up for a down payment (or furniture, depending on if I use a VA loan or not.) Are there any realtors in the area that specialize in VA loans, or that work with lower purchase-price buyers? I'm looking at small SFHs or a 1 or 2 bedroom condo, so I can rent it out after I graduate, if able. Being single the undergraduate areas of town don't "scare me" but I'm definitely requiring at least one garage space. Where should I be looking? If any realtors wish to contact me, feel free.
  • May 07 2013 - Ann Arbor
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Answers (4)

Profile picture for lchang1139
You asked "1 or 2 bedroom condo, so I can rent it out after I graduate, if able. Being single the undergraduate areas of town don't "scare me" but I'm definitely requiring at least one garage space."

Answer: Nielsen Square Townhouse condominiums -- 2 or 3 bedrooms.attached one or two car garages. located within walking distance to the U of M Hospital and Medical Campus, Kellogg Eye Center, Downtown Ann Arbor and UM Campus. On the ATA bus route.

These condos are popular location for medical interns and residents as well as students who walk to the  hospital. You should not have problem to rent out after you graduate.
  • June 29 2013
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David Clegg is correct, you want to be sure the VA loan is indeed the correct product for you before jumping into it blindly. In many cases the benefits of a VA loan far out way the fees; VA loans have no mortgage insurance and no down payment, and when the purchase offer is structured appropriately a veteran can purchase a new home with no money out of pocket. I do a lot of VA loans, I teach VA loan classes and VA events and I would be happy to help you. Rather than a VA Realtor you need a knowledgeable loan officer who can look at the big picture of your situation and help you determine the best financing option for you.

Btw, David Clegg (posted below) is an excellent realtor.
  • May 11 2013
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Profile picture for BrianO07

Thanks! I'll do that when I get a chance. I'm very skeptical of the VA loans as well. I'm more worried about not having a high enough debt-income ratio when it comes to lending than anything, that's the only reason I'd feel forced into using it, since I hate debt.

  • May 07 2013
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I'm about 45 minutes away and can connect you with a reputable Realtor in that market. Feel free send to me an email dclegg@hallandhunter.com. Also, look hard at that VA option before you pull the trigger.  There are significant fees involved and you may be better off with another type of loan - especially if you have a downpayment.
  • May 07 2013
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