Military to Civilian

Transcript

Welcome, everyone, to our live webinar where today we’re going to discuss the military-to-civilian transition and specifically the home buying considerations you might want to have when you are exiting the military. Now, we’re going to give a minute here for folks to get logged in, to get on for the live call here on YouTube.

But overall, just to give you a brief presentation on myself, my name’s Evan Kaufman with WeVett Home Loans. I’m a VA loan originator focusing specifically on working with VA loans. We love working with active duty military; that’s our prime demographic. And what that’s meant is that we’ve had a unique niche develop helping active duty military transition out of the military.

Now, prior to being a loan originator, I was a real estate broker selling a lot of real estate, specifically to active duty military, for the most part. Again, I was stationed out in Dayton, Ohio. I was in the Air Force, got into real estate, started buying real estate myself, investing, redeveloping some projects, and then helped clients start buying and then ultimately started helping those clients move around the country. And initially, I was connecting with good real estate agents and now launching WeVett Home Loans, helping military families utilize the VA loan, the best of their benefits, and conventional loans if they don’t have their VA eligibility remaining.

That’s just a little bit of background on myself. But for today’s sake, let’s get into it. We’re going to what I like to call the M2C transition, military to civilian transitions, and how it relates to home buying. S, let’s look at the objectives that we have here for today.

So, there’s a few key things we’re going to go over. First, we’re going to look at military versus civilian pay changes, things that you just got to be aware of if you’re transitioning out and you’ve been in for only a few years or 20 years. We’re just going to cover over the things you’ve probably already thought about.

What are some of those major pay shifts that we see as lenders and just being a veteran helping other veterans mentor out, know what to expect for some big paid shifts?

Then we’re going to get start to get a little more loan-specific and look at self-employed versus salary W2 jobs and how that can impact you if you’re considering buying a home. So we’re going to take, for example, look at profit bonus salary, if you own a family business, not all that good kind of stuff, hit on some of those basics.

But then the third piece that we’re going to spend the most time on is understanding some VA loan considerations, and a lot of these considerations also carry over to conventional loans. That’s the route we got to go, but we’re going to go over some of those details to help explain what a job letter affects your qualification, how Skillbridge does, because I know a lot of folks that we have on here, big shout out to Dee Moore for helping us get things lined up with some of the Skillbridge programs that are helping folks transition out. But I know that a lot of folks are on Skillbridge. I was one of the first people to use Skillbridge out of Dayton, Ohio, back in, golly, applied, I think in 2017, got out in ’18, 2018, so five, six years ago, and I know it’s a very similar process still and how you got to plan for if you want to buy a home.

So we’re going to hit on some of those struggles and then really hit on a timeline scenario and discuss, hey, what does it really look like if I’m transitioning out right now, be it that I’ve only got a month, or two, or 6 months, a year? What should I start thinking about if I’m trying to look to buy a home?

And we’re going to wrap it all up with hitting on four good takeaways that you can keep. Usually, I say three takeaways, but this one’s got enough good information, I think we’re going to have four good takeaways. Now, if you got some questions, feel free to drop them into the chat, and we’ll get to those as well at the end. And if for some reason we’re missing that or we end up running out a little bit of time, we try to keep this to about 15 to 30 good minutes, then we’ll get back to you as well after we have this presentation, either later this evening or get to you tomorrow. So thanks again, a lot here we go, let’s get into our first part.

So, the military versus civilian pay changes. What are some of the major shifts that we see for folks when they’re getting out? So, the key here is, know that not all pay is considered equal. I say considered equal because especially from a lending viewpoint, if you’re working with a lender and they’re going to consider the types of income that you’re going to use when you’re getting out to say buy a home, not all pay is treated the same.

So, the deal is, when you’re in the military, it’s very simple, right? I mean, it doesn’t always necessarily feel that simple because sometimes you’re dealing with finance and are getting paid or not paid for going on TD all that good stuff, but your consistent pay schedule of 1 and 15th, getting that lees, knowing what you have on there, I’ll say from a lender perspective when you’re active duty, that’s one of the simplest things we got. We got so many other curve balls when we’re working with PCS families, you know, doing out-of-state closings, notaries overseas, all that good stuff. Fortunately, L’s are very consistent, W2s that military folks get right from their MyPay, right, or whatever system they’re now using within the military to pull up pay.

Very easy, nice and easy to see, know that once you’re out, it’s not all treated the same. And the deal is, when you’re in, there’s a couple pays that I touch on really that are very important, those are tax-exempt pays. So, while you’re in the military, you’re looking at certain tax-exempt pays like BAH, BAS, flight pay, and then there’s other kinds of pays, hazard, etc. Those are pays that might look like they’re not too much while you’re in the military, but know on the outside, that’s tax-free money.

So, as lenders, we’ve been able to gross that money up, meaning that we multiply it by 1.25. So, if your BAH is $2,000 a month, here we go doing public math, right? Your lender should be able to do it, if it’s 2,000 bucks a month, that means we can gross it up by 1.25, which would be $2,500, right, add an extra 500, that’s a quarter of the $2,000, so that means we’ve been able to gross those up over time, know that goes out the window when you go into civilian life because there’s not too many tax-free pays, same thing with like health insurance, pension, retirement.

This is a little less loan specific, but a little bit more from when I was in the military. I transitioned out, and the number one thing that I knew would be a tough thing to solve wasn’t necessarily the pay. It wasn’t necessarily how I was going to take care of retirement; all it was, was health insurance. I will say that one threw me a curveball.

So if you’re going to work for an employer who has wonderful health insurance, awesome. If you’re like me, going out self-employed out the gate that we’re going to touch on here in a minute, know that health insurance can be just a wide open field, landmines all over the place. It changes dramatically, so just be aware; that’s a big shift as well, as of course, that pension retirement.

Not all places treat retirement the same as when you’re in the military, having that match, but then also having that pension. If you save 20, pretty good benefit. Not always that way outside.

Now, I know some of us have got some really good jobs that are on this webinar and folks I’ve just recently worked with to help walk through these processes. Fantastic benefits, awesome. But just know that that’s going to shift a little bit and how it’s reported on your earnings, your pay stubs. Right now, we usually start saying just pay stubs versus LES’s. That’s not really a thing in the civilian world. It just comes out a little bit different and looks a little bit differently, even from a lender’s point of view.

So now that we got everyone teed up that not all pay is equal, we’re going to go to the next part where we really hit on self-employed versus W2 salaried pay, because here is where we really get a big difference on being able to qualify for a loan.

So know this: one, not all pay qualifies the same on a loan when you’re transitioning out of the military. So if you’ve bought a home while you’re on active duty, you know from the pay perspective it’s relatively simple. I’m asking you, ‘Hey, Johnny, can you get me your last two, your last two LES? Get me your W2s. That’s usually all I need unless you got some random other incomes, and we might need some tax returns.’

We often don’t even need tax returns when you’re on active duty for stuff. It’s really smooth and simple, unless you have some variable pays, rental income, that kind of stuff. Really easy process from the documentation of your pay while you’re in the military.

Know that when you’re transitioning out, some curveballs get thrown in there, and the big one when you’re on the outside trying to buy a home is, ‘Hey, is my pay self-employed or am I W2 salaried?’

Now, I know there’s a little caveat out there: you can be self-employed and pay yourself W2, which we’re going to touch on here at the end. That’s considered almost like family-like business, your own personal ownership. So that throws you right back in the self-employed category.

But the deal is, what I’m really talking about is you’re getting a job with a company, an existing company that’s paying you, and they’re paying you as an employee. It’s wedded, it’s salaried, or it’s hourly with a good fixed 40-plus hour rate. Very simple where it’s just with an employer, right? Versus self-employed, you’re going to go out and you want to be, I mean, loan originator I’m for the most part self-employed, sometimes W2 for stuff. It’s mainly you’re self-employed, you’re on your own to build stuff. You are a real estate agent, you’re going to start your own world, you’re building your own financial advising practice. I know it’s a common deal for some of these career fields for guys who are getting out of the military. Those are all generally going to be self-employed, or they’re so heavily commission-based that as a lender, we can’t, it’s hard to use that income.

So here’s the big difference between self-employed and working at, what I kind of say is, established company. So for self-employed, we typically need two years tax returns, sometimes we can get away with less than that, depending on the loan type. VA, though, we’re really hamstrung by that two years that we need for documentation, unless you have some deep history, history of it. But VA, we’re going to need that two-year history of it.

So that means you ideally are showing a couple of years of what you’re already doing. Like for example, if you are in the military and you happen to already be selling real estate as your part-time job or something like that or on the side, I should say, because you’re always full-time on the military. But if you’re doing that as your part-time deal, I know I had dealt with that, some other guys have done that, then some of that pay could potentially be calculated if you’re showing it on enough tax returns. But for self-employed, it’s a big thing.

So if you’re deciding to get out, you got to ask yourself, what am I wanting to go do? Because this could drive your home buying decision. Because if you’re getting out and you know you want to go be self-employed, then know that you either better try to get a home now while you’re still in the military and we’ll talk on some of those stipulations because if you’re already a month out from getting out, the boat already might have sailed. But you want to start considering, hey, how can I do that now or prepare to get myself in the best position so that when I’m ready if I’m self-employed in the next couple of years, I’m going to have my tax returns ready to buy.

So know that self-employed, you just generally got to wait, wait that two-year mark and get things on tax returns. Now, if you’re going to be paid by an established employer, this is a big one to know. Salary is treated a little differently than bonus or commissions. So like for us when we’re reviewing a job letter that we’re going to talk about here on the next page, the deal with getting commission or bonuses is we can’t really utilize that income unless it’s been documented again on prior pay stubs, tax returns, W2s. If it’s not on those, we can’t use them.

So if you’re just getting out and you don’t have a history of that commissions and bonuses get left off. The salary or that fixed hourly rate at 40 hours, that’s something that we can work with and can happen. So know that if you’re planning to get out here and you’re like, ‘Oh, I’m getting offered a job. I’m getting offered a really good Tech job at $150,000 a year, but it’s only 120 base and 30, say bonus or 30 commission, right or target commission, right? We’ll see that kind of stuff as a lender. We’ll talk about job letters. But we can work off of whatever that salaried base is documented. So we could use that 120.

So, know that sometimes when you’re negotiating for jobs, that whole salary commission salary bonus structure of what you decide on and stock options, that’s even a whole another animal. Don’t even count on that one up front. Once you have everything documented, you’re going on for a few years, wonderful. But as you’re transitioning out of the military, it’s that salary pay that matters most for qualifying for a loan. So yes, you might be getting paid $150, $200,000 a year, awesome, it’s wonderful, but whatever is documented on the salary, that’s what we got to go off of. So keep that one in mind.

Now, full-time salary, as I mentioned on the slide as well, is the easiest for qualification. But know that if you have ownership in the business, and this is where I went back to earlier saying, yes, you can be self-employed, pay yourself W2, we know folks that do that all the time as well. Know that then, if you have ownership greater than 25% of the company, now all of a sudden that starts kicking in where it’s treated like self-employed.

Same with family-owned business, and even 10% of that ownership is where you start triggering some of those things. Family-owned businesses is another one that gets a little squishy. You’ve got to make sure, hey, what’s that relationship like? How far apart is that? Know that if you’re working in a family business, if it’s super small, that can mean that all of a sudden we trigger those same kind of things with needing prior year tax returns to show the income. So, those all have a slight variation to them depending especially on loan type. So reach out and we can gladly go over those.

But just know, if I have ownership in the business or I’m working at a family business, that could also all of a sudden put me a little more in that self-employment category than in just a traditional W2 working for a regular established business kind of situation.

So now that we know that’s a huge differentiator because the whole thing here is if you’re debating on what you’re going to do when you get out, and if you know you’re wanting to, for example, go start a business or you want to go work at that startup that might be a little more comp based on bonus or commission, now you guys are thinking, “Oh well heck Evan how can I go buy that house if I know that’s going to be most my pay?” Great question. So now we’re going to roll into some VA loan considerations that we have.

Why do we talk heavily on the VA loan? Mainly that’s a product that we utilize all the most all the time if you’re transitioning out of the military. That generally means you’re going to have access to the VA loan and about 80-85% of the time it generally tends to be the best loan product to use. The only caveats I say where sometimes it’s not always the best to use maybe to look conventional is if you’re putting a very high down payment, 20-25%, your credit’s over 780, and you are subject to a VA loan funding fee. That’s a pretty rare scenario to have all three of those L up and if they do then they get to be pretty equal.

So we’re going to talk heavily on VA loan considerations but know that conventional mirrors it very closely especially for the timeline discussion that we’ll have. So know this for the VA loan considerations if you’re going to want trying to use it as you’re transitioning out of the military, number one, you can close on a home before getting out and before even starting your next job. That’s something that’s something we get folks coming to us telling it was a showstopper at their other place, they went to another Lindon, they just said, “Well yeah, we got wait till you get out and you got to get your first pay Stu, don’t have to have that.”

Remember this, the VA loan is not funded by the VA, it’s funded by individual lenders. So if one lender is telling you no, there might be other lenders that are open to that. I’m going to tell you what we ultimately have worked with and what we have helped multiple folks do when they’re transitioning out of the military and how that works for us.

So we can close 60 days prior to you starting your next job and we can use the income that’s based on your job letter that we’ll talk on here a second. Plus any indefinite benefits that we can really have confirmed and when I say indefinite here’s the deal, sometimes folks are like, “Evan I got four more months in the military left can I go buy this house?” Well, one of the hard thing is with especially VA loans, we got to prove continuation of pay, continuation of pay the basics of that means, “Hey, are you going to be getting paid for at least one year, do you not have a ETS, you know estimated time of separation settle or scheduled?”

And on all your pay, we got to make sure you have at least a year’s continuation worth of pay if you’re under under that, that severely limits us, we usually can’t utilize the pay. So when I say indefinite benefits I mean, “Hey, those things that we can confirm for once you get out.” So for example, if you’re getting out for retirement and you’re right now you’re at your 20 year mark or 22 year mark and you’re getting out even if you’re buying the home before you’re officially out, we can utilize your retirement benefit estimates for part of your income as well as a job letter.

Same thing with VA benefits, if you happen to file and get your claim early, some folks like that’s not possible, we’ve seen that before you get your rating before you’re out then we can ultimately utilize that rating now if you don’t have your rating you just filed, we’ll talk on how that can actually help you here soon but if we don’t have that official rating we can’t utilize the estimated income for it until you actually get your rating but what most folks are doing when they’re transitioning out is they’re utilizing that job letter and so that’s the next point.

Make sure you have a clear job letter and this is really only usable if you’re closing prior to starting the new job so the whole deal and benefit being able to use a job letter is it’s this you can essentially buy a home before you start a job and you can use so you don’t have to even have the pay subs or anything else and you can buy a home just based on the letter that’s confirming you’re going to have it why is that powerful because sometimes while you’re in the military you might be in all the way up to that last 60 days you want to take some time off and start your job in a in another two months well good news is with a job letter rule we can close on that home as long as we’re closed within 60 days of starting your new job which we’ll talk about here in an example if you’re closing on December 31st you or I should say if you’re uh getting out December 31st we can close on that home at the start of November and be okay as long as that job letter is clear now what’s a clean job letter there’s four major components to it number one it. Number one, it’s full-time. It says it’s full-time or it says 40 hours if it’s hourly.

Number two, it clearly defines the pay. So, the deal there is you want to have it showing the salary on there, or if it is hourly, the key is with hourly, it’s got to show at least 40 hours and then the hourly pay for that 40 plus hours. Then, next, no contingencies. It can’t have anything stating this. Big example we always see is that the person is needing to complete some kind of certification.

So, you’re getting out and you need your pilot and you need to do some kind of reupert for changing over a platform or whatever it is. Or you’re getting out and you’re a teacher or nurse, we’ve dealt with that and they need to do something. If that letter says that that is a stipulation of the job, we that needs to be cleared from there before we can utilize a job letter.

The other big one drug tests, completing degrees like your bachelor’s degree or whatever, if you were doing that for Police Academy, that kind of stuff can’t have any stipulations contingencies on that job letter.

So, as long as there’s nothing like that on there that’s good for us. And then lastly, it’s signed by a responsible party. Usually that’s going to be the HR, the manager, the owner, someone like that signing on it because note this, they will be followed up on to make sure that’s a legitimate letter and very verified that you still intend on starting the job before you close. But know the job letter is an essential piece to if you want to close on a home before you start your next job, an essential part to have. And that’s going to lead us now into the next two pages where we start getting into some of the scenarios.

So, next number three, the big thing for VA loan consideration, your VA funding fee, it can be waived before you get out. The other thing I’d say the second biggest misnomer that we get right behind the oh I can’t close my home until I get out of the military and get my first pay stub um and actually this one’s probably even above that one is oh I thought I couldn’t get my VA funding fee waived or I had to close and then file for a refund later not the case.

I put the number right here on the board so if you’re not using us as your lender which we’d love to be of course if we can we’re not in quite every state but every state where’s major military installation but if for some reason we can’t work for you know that it’s filing your form 26 8937 that’s a document your lender can file for you. You can file yourself and the key is this if you’ve filed a VA disability claim before getting out you filed your initial claim packet as long as it’s been in there for a little bit we can file this form and it will essentially request the VA to pull out your record look at it and say oh hey is there at least is it going to at least have 10% or greater VA disability rating if it’s going to have that then they send the lender an updated Certificate of Eligibility that’s a form that you always need to have for VA loan that shows how much entitlement you have if you’re exempt or not exempt all that good stuff they will send us then an exempt form they might not tell us they’re probably not going to tell us a rating we’ve had folks though before where they magically look at it and then they give them a rating right afterwards most of the time though they just end up sending us an exempt Coe that’s it so we might not know your rating and we never find that rating out unless it’s on the on the Coe they have the dollar amount for it but if they just send us an exempt Coe we can all of a sudden utilize that exempt certificate uh certificate of occupancy, uh of Eligibility I was like occupancy see we doing it on closing on a new bill making sure we have that down right but the Certificate of Eligibility – that Coe – if we get it and it says exempt from them from filing that form we can then waive the funding fee and have you have no issues having to pay it it’s huge tremendous savings we just helped another couple that was PCS and getting out going back home to Texas helped them save nine grand that they had no clue on because we filed that simple form now here’s the deal with that form you ideally want to have filed your your claim at least 3 to four weeks before you’re trying to close on your home ideally even a little before that but that form you want to file it at least three weeks prior to closing now they got it’s 14 days to get back to you on that and we typically see them get back pretty quickly within I’d say maybe a two week business period we usually get an answer back on that but just not to risk it and to make sure your underwriting can handle everything for the lender you’re working with you want to file that that 2689 37 at least 3 weeks prior to closing that’s a little more ideal but it’s huge it can waive your VA funding fee now next the skillbridge challenges take a quick sip of water.

Especially since I know got a few folks that definitely are on this who have been on Skillbridge, there are some challenges to Skillbridge. Again, I went through that Skillbridge program myself when it first started, it was the Wild West, man. I was in Dayton, Ohio, it was just something else. I was actually blown away. I went and got a real estate broker, got a signature there, Education Office signature there, my command, all everyone was good, wonderful, let’s rock and roll. And then you get to go do 6 months working with an employer to learn the skills, get better at it, absolutely awesome. But know this, that if you’re trying to buy a home, Skillbridge can throw a few curveballs in.

So here’s the deal, how long is your Skillbridge program? If it’s a full 6 months, that’s wonderful for learning how to train and get things ready. But here’s the deal, remember if you’re trying to buy a home, getting out and utilizing, for example, VA loan and conventional has the same requirements for the 60 days job letter, all that kind of stuff, so follows other loan types. But if you’re trying to buy that home when you’re getting out and you’re on a six-month Skillbridge, if you’ve got that job letter, let’s say it’s you’re getting out December 31st and your new job starts January 1st right away, we can only go back 60 days. If you’re on that Skillbridge, why? Because you technically can’t start that job any earlier. So when you’re on Skillbridge, just know that at best you’re going to be able to close within 60 days of the actual end of that Skillbridge if it is your termination date.

Some people end up taking a Skillbridge program, for example, and they want to get a Skillbridge back at home or back somewhere where they’re going to move, and they get approved to go make that move. One of the biggest, I’d say probably a third of the time, the struggle we have with Skillbridge folks is they get a full six months and then all of a sudden halfway through they want to move back to their home state and buy a house there when they’re not quite 60 days out from getting out, they’re maybe 3 to 5 months from getting out, and they’re in a weird position there why? Because their military pay is ending, they have their termination separation date, remember we talked on you need to have that year of continuation pay, they don’t have that but their job letter, let’s say they have a job lined up, technically their job doesn’t start until five months because their Skillbridge is five months then they got to wait till they’re in that 60-day window to try to buy, so then they got this uncomfortable 3 4 months, so know that Skillbridge just adds some additional challenge, that’s why I say how long is the Skillbridge program, do you plan on taking terminal leave?

So let’s say this is where sometimes we’ve worked with folks who have actually changed your Skillbridge slightly where they really want to buy that house when they’re moving back to the state they want to live in, they might tone that Skillbridge back by a month or two and take terminal leave instead and start their new job while on terminal leave because we talk about it here in a second, a lot of folks will kind of do that double-dip scenario was the old term one I was in, they’ll get out, do terminal leave and start their new job and maybe get 60 days have kind of overlap, heck I hear some folks even over coiled have La stacked up so much leave that they’re taking terminal leave for like 3 4 months which is just wild, so we can have folks that technically close like six eight months before they get out of the military, pretty wild, and so know that terminal leave can adjust that and we’ll actually hit on that here in our scenario, but with Skillbridge that 60 days is what we’re constricted to, so if you’re not taking terminal know that the best we could do is 60 days from the start of your new job, so that’s take that one into account and that’s where I already hit on that last line there moving to New skate State while on Skillbridge just know if you’re have a long Skillbridge that’s where you could have that kind of uncomfortable period where you might need to rent something for a few months so let’s go over that scenario this one hits it on the head and really helps show us the power of how if you want to buy a home while you’re transitioning out of the military just how soon in advance you could do this so the scenario we got Captain America right so he’s got an ETS an estimated time of separation of 31 December and now he’s going on terminal leave though in October so he’s trying to get that couple months of that November December pay where he’s double dipping right and now so long as there’s a clear job letter prior to November 1st we could close on a home 60 days earlier so that essentially means the 2nd of September we could close so if you’re if Captain America here is getting out and right now we know it’s it’s dece it’s November right so if all of a sudden here in the next 6 months Captain America can know oh my separation next year I know I’m getting out I’m retiring I got to wait till then to buy a home not necessarily you can start considering to buy that home to close on it as early as the start of September which means you can start looking at homes remember to buy a home usually takes 30 to 60 days we can close VA loans in as fast as 21 days we’ve even done them quicker than that in 14 to 15 but usually we see that around 21 to 30 days but but if you want to get a home under contract and take a little bit longer it’s perfectly fine so you can go 30 60 days before that September date on Captain America as example that means you can start looking at homes crazy in July and August you may even start looking sooner but really consider putting offers in in July and August closing September because remember we’re 60 days out from that new job start then you start your so you bought your new home while you’re still technically in off the job letter of the new job start the new job you’re still on ter and then you’re out of the military you own the home for 4 months while you are technically still in but you use a job and you use the income from a future job that you’re going to be working ideally for a long time so that’s one of the powerful examples that we use to help show people that you really can start considering the home buying process sooner than later before getting out because some folks get in that weird spot where they’re like oh I got to wait I guess till I get my first pay St and then job doesn’t materialize got issues that just happen or let’s say they get up to that point and they start trying to R rush it and then they’re in the weird spot of where they’re getting out and don’t have a house under contract and then they’re in an awkward spot of forced to rent buy a suboptimal home that is a scenario that I’ve seen many veterans hit as they’re transitioning out and that just compounds on top of just the frustration hardship of getting out overall which is one thing we try to help seek and alleviate so know that that’s we can look well in advance and make the whole process work especially working with someone like us who understands that process now keep in mind that once you start a job though cuz we’re talking on job letters on how soon can you look at buying and how that process works know that once you start the job we’ve got to have that first past up so if you’re using a job letter only you need to close prior to actually starting the job it’s one of those weird scenarios where being unemployed or future employed is actually easier than waiting till you start your job because once you start your job you got to wait however many days or weeks till you get that first paste up so it can put you in a weird spot where you want to make sure you close after you get that first pay stub or you close before when you’re going off that job letter so keep that little Nuance in mind you’re working with me or with the company we’re going to make sure that you keep that in mind as you’re going through the home buying process so what are some of those key takeaways that we have for making this transition out and buying a home the these are things that we need to consider the four key takeaways number one know that your type of pay has a big impact on your qualifications so if you’re getting out again and man you got offer a million dollars a year but it is all in Company stock well that might not buy you much of a house but if you’re getting out and you’re getting a reasonable salary $50 $100,000 a year salary awesome we can utilize that next job letters are important for closing before your official outdate so if you want to close before you start that new job or before you’re getting out of the military job letter for that future employment is very important and we have those four key components that we touched on that you want to make sure within that job letter third you can get your VA funding fee waved if you want it so if you’re not applying for VA compensation no problem but if you are applying know that you want to make that claim prior to getting out and really prior to closing so we can file that form to see if we can get it wave for you tremendous savings because if you don’t do it before you close you risk getting any of it back so number four though you can close on a home before getting out that’s big misnomer I was told I got to wait till I got a first pay Stu totally I got to wait till I start my job not necessarily the case when you’re transitioning out of the military now it’s also not to say just rush into something but what I’ve seen more often than not are folks who aren’t considering this process at least a few months before they’re getting out they end up in that squeezed category that I touched on earlier where they get out oh I think I want to move back to California and then they go there and they end up kind of short-term Renning it ends up costing more gets a little awkward they just buy the first thing they see and they bought a suboptimal home see that more often than folks buying something too soon that’s not good because they already start you have time to prep and look remember the scenario shows us we can start looking nearly six months out especially if we’re going if we’re going on Terminal about four months out if we’re not going on Terminal that gives us good time to start prep preparing and getting ready the whole point of this then is to really get you in a position to make it so that home is a blessing not a curse so overall though of course rounded out the the whole presentation with how do you win a home with the VA loan overall talks like this work with a lender who gets it so we like to say there’s thousands of versions of the VA loan because remember VA doesn’t fund the VA loan lenders do the VA is essentially like an insurance policy and backs the deals up if there happens to be any defaults so the deal is work with a lender who knows it my information is right here on the screen for us Evan Kaufman again we’ at home loans your VA loan originat always happy to help now I’m going to pull out and make sure and see if we got any questions up front for us and if we don’t that’s perfectly fine we’ll go from there all right now one of the major questions that we’ve always still been asked when we’re doing that time of getting out next to the hey what kind of pay is how is my pay structured and everything um one of the big ones that we recently had was for that job qualification so like dealing with a police officer going through the police officer Academy the one thing there is if it has the academy going through it like that trade school you have to go through as a stipulation then yes that can be a potential issue on a job letter but we’ve seen folks actually outline that and they’re essentially employed there that have gotten that one removed so always ask the questions to them hey is this really a job requirement or not that’s one of the big recent ones that we had just make sure to touch on all right guys not see anything else for us for today so please anytime reach out to me hopefully this can help you make that transition out of the military while you’re doing it and again appreciate you letting me be here take care