VA Loans in Prince George’s County: Step-By-Step Guide

Buying a home with your VA benefit in Prince George’s County can feel complex, especially if your PCS timeline is tight. You want to use your hard-earned entitlement wisely, keep costs down, and close on time. This guide gives you a clear, local roadmap from pre-approval to keys in hand, plus tips to avoid delays. Let’s dive in.

VA loan basics in Prince George’s County

VA home loans are a federal benefit delivered by private lenders, with the VA guaranteeing a portion of the loan. That guarantee helps you access competitive terms like no private mortgage insurance, often lower rates, and low or no down payment. You still work with a lender to qualify based on income, credit, and the property.

Eligibility and your COE

You qualify based on service type, duration, and discharge status. Your first step is a Certificate of Eligibility (COE), which confirms your entitlement. You can request it yourself or ask your lender to help. For details and the online process, review the VA’s guidance on how to apply for a COE.

Entitlement and loan size

Since 2020, buyers with full entitlement do not have a VA-imposed county loan limit. Your lender’s underwriting still sets your maximum based on income, debts, and credit. If you used a VA loan before and have not restored full entitlement, your effective limit may differ. Your lender can calculate this once they see your COE.

VA funding fee

Most buyers pay a one-time VA funding fee, which can often be financed into the loan. The amount varies by service type, down payment, and whether this is your first or a subsequent VA loan. Typical ranges cited in public materials are roughly about 0.5% to 3.6%. Veterans receiving VA disability compensation are generally exempt. See the VA’s page on the funding fee and closing costs for current details.

Occupancy and use

VA loans are for primary residences, and you must plan to occupy the home within a reasonable period. You can buy 2 to 4 units if you will live in one unit. Pure investment properties are not eligible.

Seller concessions and lender overlays

The VA allows seller-paid contributions toward certain costs, with a commonly cited ceiling of up to 4% of the price for eligible items. Your lender will confirm what is allowed for your specific loan. Lenders also apply their own underwriting standards, such as residual income rules and debt-to-income limits. Ask about their experience with VA loans in Prince George’s County.

Appraisal, MPRs, and local property factors

VA appraisal vs. home inspection

A VA appraisal checks both market value and basic Minimum Property Requirements (MPRs) for safety, sanitation, and structural soundness. It is not a full home inspection. Always hire your own inspector for a deeper look. Learn the basics on the VA’s overview of home loan benefits.

Minimum Property Requirements

MPRs cover items like a sound roof, working heat, functioning utilities, safe electrical, and no major hazards. If the appraiser flags issues, repairs usually must be completed before closing. Lenders and the VA may allow limited escrow or holdbacks in specific cases, but many MPR repairs need to be done prior to settlement.

Appraisal timing and outcomes

VA appraisal turn times vary by market and season. In many areas, you can expect roughly 7 to 21 days from order to completion. If value comes in at or above contract price and there are no repair calls, you move forward. If value is low, you can renegotiate, bring the difference in cash, or cancel if your contingencies allow. If repairs are required, plan for contractor coordination and a reinspection before closing.

Prince George’s County property considerations

• Older housing stock: Many homes predate 1978. Expect lead-based paint disclosures and review the EPA’s guidance on lead disclosure in real estate.
• Utilities: Much of the county has public water and sewer. Verify service connections during due diligence, especially with older properties.
• Floodplains: Some areas fall within FEMA flood zones. Flood insurance may be required, which affects monthly costs. Your lender and insurance agent can advise.
• Condos and HOAs: VA loans work for VA-approved condo projects. If a community is not approved, your lender may explore project approval, which can add time.

Maryland disclosures, costs, and closing practices

Property disclosure and lead paint

Maryland sellers generally provide a Property Condition Disclosure or Disclaimer Statement. For state requirements and forms, review the Maryland Real Estate Commission’s information on property disclosures. Your agent and title company will provide the proper form during your transaction. For homes built before 1978, sellers must provide the federally required lead-based paint disclosure and pamphlet. You can learn more on the EPA’s page about lead disclosures and pamphlets.

Recordation and transfer taxes

Maryland has state and county recordation and transfer taxes, and contracts often specify how these costs are split. Rates and practices can change, and some municipalities have their own charges. Ask your title company for an itemized estimate based on your contract price, loan type, and location within Prince George’s County.

Title, settlement, and insurance

In Maryland, title companies typically handle closings and issue lender’s title insurance. Your VA lender will require standard title searches and lien checks. Coordinate early with a local title company that understands Prince George’s County recordation and transfer procedures.

Your step-by-step path to closing

Follow this timeline as a practical guide. Actual timing can vary based on the property, appraisal schedule, and your lender.

1) Get pre-approved and secure your COE

• Gather documents: DD-214 for veterans, statement of service or current LES for active duty, photo ID, recent pay stubs, W-2s or tax returns, and two months of bank statements.
• Ask your lender to obtain your COE or apply via the VA’s site for how to apply for a COE.
• Choose a VA-experienced lender. Ask about VA loan volume, local appraisal turn times, and how they handle residual income.
• Typical timing: 1 to 7 days once you submit documents.

2) Shop homes and write a strong offer

• Work with a local agent who routinely closes VA transactions in Prince George’s County.
• Include a financing contingency and a VA appraisal contingency.
• Always add a property inspection contingency for your protection.
• Consider asking for seller concessions within VA limits if you need help with closing costs or discount points.

3) Under contract: order appraisal and inspections

• Your lender orders the VA appraisal after ratification.
• You schedule inspections: general inspection, termite, radon, chimney, roof, HVAC, or mold as needed.
• If the VA appraiser calls out MPR repairs, plan who will complete them and when.

4) Resolve appraisal and inspection issues

• Options include: seller completes repairs before closing, price reduction or seller credit, or limited escrow if permitted by the lender and VA.
• Many MPR items must be finished prior to settlement. Get contractor estimates quickly and keep all parties updated.

5) Final underwriting and clear to close

• Provide any last documents requested by the underwriter, including updated pay stubs or account statements.
• Once you receive Clear to Close, confirm your final numbers, review your closing disclosure, and schedule settlement with the title company.

6) Closing day

• Confirm the VA funding fee treatment in your numbers if you are not exempt. Many buyers finance it into the loan, subject to lender approval.

• Verify who pays which closing costs based on your contract and any negotiated concessions.

• Sign documents, then the title company records the deed and deed of trust. You receive the keys once recording is complete per local practice.

Documents checklist

• DD-214, statement of service, or NOBE letters
• Government-issued photo ID and Social Security number
• Two months of bank statements
• Recent pay stubs and W-2s or tax returns
• List of monthly debts and any court-ordered payments
• Proof of earnest money and any funds needed for closing

Questions to ask your lender and agent

• Can you help obtain my COE, and how fast?
• What is your average VA appraisal turn time in Prince George’s County?
• What are your underwriting overlays for VA loans, including residual income?
• If I buy a condo, will you verify VA project approval or pursue it if needed?
• What timeline do you recommend from contract to close on a VA loan locally?

Negotiation tips for VA buyers

• Lead with strength: a local lender pre-approval and flexible closing date can help in multiple-offer situations.
• Educate the seller: your agent should explain the VA appraisal process and typical MPR items to set realistic expectations.
• Use concessions thoughtfully: ask for seller help with allowable costs if it strengthens your overall budget.

Local resources to use now

• VA Home Loans overview, benefits, and process: U.S. Department of Veterans Affairs — Home Loans
• Funding fee and closing costs: VA guidance on the funding fee
• County programs and homeownership resources: Prince George’s County Housing & Community Development
• State programs and counseling: Maryland Department of Housing and Community Development
• Property records and tax history: Maryland State Department of Assessments & Taxation (SDAT)
• Lead paint disclosure requirements: EPA lead disclosure for real estate

Ready to map a game plan, from COE to closing, tailored to your timeline and budget in Prince George’s County? Schedule a Personalized Consultation with KaTrina Scott & Co..

FAQs

How do I get my VA Certificate of Eligibility for a home in Prince George’s County?

• Ask your lender to request it electronically, or apply yourself on the VA’s site using your DD-214 or statement of service.

What is the VA funding fee and can I finance it into my loan?

• The funding fee is a one-time charge that supports the program; many buyers finance it into the loan. Veterans receiving VA disability compensation are generally exempt.

Will the VA require home repairs before closing on a PG County property?

• If the appraiser finds issues that do not meet Minimum Property Requirements, those items usually must be corrected before closing or handled per lender and VA rules.

Can I buy a condo in Prince George’s County with a VA loan?

• Yes, if the condo project is VA-approved. If it is not on the list, your lender may explore project approval, which can add time to your timeline.

Are there down payment assistance programs available to VA buyers in PG County?

• County and state programs may be available, and they change over time. Check with Prince George’s County Housing & Community Development and Maryland DHCD for current options.