How to Buy a Home with a VA Loan in Richmond, VA
How can you buy a home with a VA loan in Richmond, VA?
Answer:
To buy a home with a VA loan in Richmond, VA, you’ll need to confirm your eligibility, get your Certificate of Eligibility (COE), connect with a VA-approved lender, and partner with a local expert like Jared, Associate Broker with The Hogan Group, who understands how to navigate the Richmond housing market and VA loan requirements.
Why the VA Loan Is a Great Option for Richmond Homebuyers
For veterans, active-duty service members, and eligible surviving spouses, the VA home loan offers one of the best paths to homeownership. It’s a benefit earned through service — and it can save you thousands of dollars compared to traditional financing.
Richmond, VA, with its proximity to Fort Gregg-Adams (formerly Fort Lee), Defense Supply Center Richmond, and several National Guard facilities, has a large community of military buyers. The VA loan is designed with you in mind — offering no down payment, no private mortgage insurance (PMI), and competitive interest rates.
Step 1: Check Your VA Loan Eligibility
Before anything else, you’ll need to confirm that you qualify for a VA loan. You may be eligible if you are:
An active-duty service member with at least 90 days of continuous service.
A veteran who meets minimum service requirements.
A National Guard or Reserve member with sufficient service time.
A surviving spouse of a veteran who died in service or from a service-related disability.
If you’re not sure, you can check your status by requesting your Certificate of Eligibility (COE) through the VA’s website or directly from your lender.
Tip from Jared: “Many buyers assume they’re not eligible for a VA loan when they actually are. Always confirm before ruling it out — it’s one of the most powerful financing options available.”
Step 2: Get Pre-Approved with a VA-Approved Lender
Your next step is getting pre-approved for a VA loan. This pre-approval gives you a clear budget and shows sellers you’re a serious buyer.
VA-approved lenders in the Richmond area include both national lenders and trusted local institutions. The Hogan Group regularly partners with lenders who specialize in VA loans and understand the nuances of military financing.
When applying, you’ll typically need to provide:
Your COE
Recent pay stubs or military LES
W-2s or tax returns
A credit report
Although VA loans are flexible, most lenders prefer a credit score of 620 or higher.
Step 3: Work with a Realtor Who Understands VA Loans
VA loans come with unique requirements for property condition, appraisal, and contract negotiation. That’s why it’s crucial to work with a real estate professional experienced in VA transactions.
Jared, Associate Broker with The Hogan Group, has helped many service members and veterans buy homes in Richmond, Henrico, Chesterfield, and Mechanicsville using VA financing.
Here’s what Jared does for VA buyers:
Identifies VA-eligible properties that meet appraisal standards.
Negotiates seller concessions to help with closing costs.
Coordinates with VA-approved appraisers and inspectors.
Ensures the contract aligns with VA loan guidelines to avoid last-minute issues.
Step 4: Find the Right Home in the Richmond Metro Area
Richmond offers a variety of communities ideal for military families and veterans. Some top neighborhoods to consider include:
Chesterfield County: Family-friendly, excellent schools, and convenient commute to Fort Gregg-Adams.
Midlothian: Strong resale value and newer construction options.
Henrico County: Established neighborhoods with easy access to I-64 and downtown Richmond.
Mechanicsville: Quiet suburban living within reach of hospitals and shopping centers.
Short Pump: Great for buyers seeking newer homes and top-rated schools.
The Hogan Group can help you explore each area’s lifestyle, commute times, and property values to find the right fit.
Step 5: Understand VA Appraisal and Property Standards
One of the biggest differences between a VA loan and a traditional mortgage is the VA appraisal. The VA requires homes to meet Minimum Property Requirements (MPRs) to ensure safety, structural integrity, and livability.
This means the property must have:
A sound foundation and roof
Working utilities (heating, water, and electricity)
No major safety hazards
Proper drainage and access
If you’re buying an older Richmond home — particularly in areas like The Fan, Church Hill, or Barton Heights — you’ll want to make sure the property meets these standards before making an offer.
Jared’s advice: “Homes in Richmond’s historic districts can qualify for VA loans, but they sometimes need repairs before closing. An experienced agent can help negotiate those repairs with the seller.”
Step 6: Negotiate Your Offer and Closing Costs
Once you find the right home, Jared and The Hogan Group will help you craft a competitive offer. VA loans allow for seller-paid closing costs, meaning your agent can negotiate for the seller to cover part — or all — of your fees.
Common negotiable items include:
Title insurance
Recording fees
Prepaid taxes or insurance
VA funding fee (in some cases)
The VA funding fee varies based on your service status and down payment, but first-time VA buyers with no down payment typically pay 2.15% of the loan amount. Veterans receiving VA disability benefits are usually exempt from this fee.
Step 7: Close on Your Home and Move In
Once your loan is approved and the appraisal clears, you’ll move toward closing. With The Hogan Group’s guidance, you’ll review the final loan documents, complete your walkthrough, and sign your closing paperwork.
Most VA loan closings in Richmond take 30 to 45 days — similar to conventional loans. After closing, you’ll receive your keys and can finally enjoy your new home.
Why Work with Jared and The Hogan Group
Buying with a VA loan can feel complicated, but it doesn’t have to be. With Jared’s local expertise, you’ll have a Realtor who:
Understands the VA process from start to finish.
Knows which Richmond neighborhoods fit your budget and commute.
Works closely with trusted VA lenders and inspectors.
Advocates for your best interests every step of the way.
Whether you’re buying your first home, relocating from another base, or investing in Richmond for the long term, Jared and The Hogan Group will make sure your VA loan experience is smooth, compliant, and stress-free.
📞 Ready to Use Your VA Benefits to Buy a Home in Richmond?
If you’re a veteran, service member, or military family thinking about buying a home in the Richmond, VA Metro Area, reach out to Jared, Associate Broker with The Hogan Group.
He’ll help you verify eligibility, connect with the right VA-approved lender, and guide you through every detail of your home purchase — from the first showing to closing day.
Contact The Hogan Group today to start your journey toward homeownership in Richmond with the benefits you’ve earned.
