VA LOAN CAPTAIN BLOG & Learning Center

What Happens Just After You Close Your VA Loan

By: Grant Moon 06/13/14 11:50 am

You did your research and found the ideal VA lender to help you buy and finance your first home. The process was somewhat similar to applying for other types of credit yet the VA lender asked for a tad more documentation. And that of course is putting it mildly. Yet working with your loan officer who was there every step of the way you were able to navigate this sometimes confusing process. But what you may not know is that there are some things you can expect after you close on your purchase.

Your purchase is a public record and there are companies who data mine these records for the purposes of finding new clients. One such business might be a lock service. That’s right, a lock service. When you buy a home you’re typically handed the keys and you moved in but it’s a good idea to change out all the locks. You don’t know how many other copies of your keys are out there. Lock services use public records for possible leads.

You might also expect a letter from a company who wants to set you up on bi-weekly mortgage payment plan. Your VA loan requires you to make a payment on the first of every month but if you make a payment every other week, you can cut down the time it takes to pay off your mortgage. With a bi-weekly mortgage you’re making one extra payment per year, effectively knocking off five or six years off of a 30 year VA loan. Something that you can do yourself without paying for a bi-weekly service.

Finally, you may be approached by a remodeling company asking if you need any remodeling done. Many homeowners who buy existing homes do in fact plan on making certain changes and contractors know that.

If you receive something in the mail that relates to the purchase of your new home and you’re wondering how they knew—it’s all a matter of public record.

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