PCS Orders Can Wreck Your VA Loan Process

Receiving Permanent Change of Station (PCS) orders while buying a home requires swift action. This guide explains the essential steps to protect your investment and navigate the process.

• Immediate Communication is Crucial: Your first step should always be to inform your lender and real estate agent. This allows them to re-verify your VA loan eligibility, manage seller negotiations, and explore your options under the contract.
• Understand Your Contract Protections: The military clause is a key provision in your purchase agreement. It is designed to allow you to terminate the contract without losing your earnest money deposit if your new orders force you to relocate away from the property.
• Closing from a Distance: If you must leave before the closing date, you can still complete the purchase. A Special Power of Attorney (SPOA) is a legal document that lets a trusted individual sign the final paperwork on your behalf, but it requires prior approval from your lender.

Read the full blog article here: https://www.iqratemortgages.com/blog/pcs-orders-and-your-san-antonio-va-loan-a-guide