So, my commute to work has become a stone bitch since my company moved operations. They won't move again for at least a decade.

Apartment rentals (what I'm used to) are ridiculously overpriced in the target area.

So, I started looking at houses, condos, and townhomes in the area.

It looks like I can get more room for less, even with a zero down loan, and even when adding condo/homeowner fees.

( I know that HOAs are the Debil, just no other choices in the area that I can initially find)

But, I'm ignorant and a bit spooked about the process.

Any advice, "Make sure you...", "I wish I'd known.....", etc. is greatly appreciated.

Thanks!

Just take a look at the restrictions or any flaming hoops to jump through when you pick the VA loan.  

We have always had a large down payment, so the VA loan didn't make sense.  This may have been due to the impound account or the loan insurance.  It has been too long to remember why I never used it.

I used the VA home loan for my current place after the divorce.
It was fairly painless. The VA home inspectors were particularly anal but the bank I went through was familiar with the VA process and did the heavy lifting for me throughout the loan approval process.

so I can use what ever bank I want to?  where does the VA come into play though?

I've have Navy Fed since 05 and would prefer to use them for this as well since all my banking will be at one spot I can manage it easier

Any bank / mortgage company can do the VA loan. It then goes for VA approval. Get on VA website and get COE for whatever bank you use. They will want certificate of Eligibility.

In my area only a handful of banks do the VA loan thing. I can't speak for your area.
I spoke to the branch manager at my regular credit union since they DIDN'T do VA loans,and she referred me to the VA person at the bank she thought would be the most familiar with the process. In retrospect she was right at least as far as I could tell from the process.

The whole process was about as smooth as could be given that the whole purchase process was only a  matter of a handful of weeks that all seemed to fall in place as the seller was on a short fuse to get THEIR new house closed on, I was going through a divorce at the time, then juggling with the ATF to move my FFL to the new location. My recollection was that the VA home inspector was pretty anal, but the sellers wanted to get on to their new place. By the time I got the home inspectors report after the closing and walked around to note the deficiencies they'd seen, half of them had been fixed by the seller without even advising me they were doing it.

Pretty much any lender that does VA loans.
The VA acts as the guarantor for the loan, so you don't pay PMI.  You will have a funding fee to pay the VA, depending on amount of down payment and disability status.  They will also require an appraisal.

If you have more than 20% down, you don't need the VA, or have to pay PMI.

ok cool, I am talking with a broker now, should I just keep going that way or talk to my bank?

I have heard I should go thru my bank and get an offer from them, then if the broker comes back with a higher interest rate to use my banks offer against him.

That if you sell it within 2 years you will take a loss..

Shop around for your best rate.  Might be your local bank or credit union, might be one of those places that mails out flyers or calls you.  
Just be aware that each lender has it's own fees.  IE, Lender A charges $600 to do a loan, while Lender B charges nohing for a VA loan.  Also bear in mind, that your loan can get sold off after you close, so picking a lender based on location may not pan out.

Just don't ask your lawyer to read the paperwork.  A coworker did that recently, and since the VA paperwork was over five-hundred pages, he got a huge bill.z

The loan likely will be sold off.
I closed on my first ever VA home loan Jan 25, the lender immediately transferred it to a mortgage guaranty company, who sold it to another one.
So that's 3 owners of my mortgage in 3 months.
Still it made my home possible. Otherwise I'd still be saving for a down payment.

Anyone that does a conventional loan will do a VA loan for you. That means you need to find the right place to get the loan with someone you trust. I saw one post above about USAA being good, which is confusing to me. I use USAA for literally everything except their mortgage department (which I'm pretty sure is another company just licensing their name - I could be wrong). I have heard plenty of less than stellar reviews from peers.  Anyway, I wouldn't limit myself to one bank ever. Either shop around for rates on zillow, or better yet find the mortgage broker in your area with the most positive online reviews and contact them.

One downside to the VA loan is that there are usually more funding fees up front. But, usually these funding fees are a fraction of the down payment you would need to avoid PMI on a conventional loan so people don't "feel" them as much. Another thing to consider with that is that if you have a disability rating (10% will do) you won't have to pay the funding fee.

The whole concept of a zero down loan with no PMI is pretty good, but keep in mind that as interest rates rise, the less attractive it is. With rates around 4%, I would be looking for a 15-year loan with a slightly lower interest rate too.

Mine was smooth as silk. Wound up getting a place that was listed "cash/conventional" (some sellers, especially new construction are afraid of the VA inspection) a good realtor can walk you through it.

If you're drawing VA disability, make damned sure the mortgage people know.  Saves you money.

My biggest worry with the VA was the home inspection and it was overhyped.  Nice to be at 3.37%