The Myths and the Magic for VA Home Buyers

Like almost everything else in our lives, the VA loan ‘ain’t what it used to be’… because it’s so much better!

In the past, and yes even the recent past, home sellers were scared off by a purchase offer from a home buyer using the VA loan. But the loan itself has changed, and public opinion has evolved.

There are comprehensive training and certification programs for Real Estate agents to help them understand and implement the process of working with the VA.

Two women sitting at a desk filling out paperwork - Veteran Realtor, Home Buyer, Home Seller - Bill Salvatore, Arizona Elite Properties

Photo by rawpixel on Unsplash

A trained, VA-savy Real Estate agent can help you choose a home that meets the VA’s property requirements. They can advise you on the VA loan’s timelines, VA appraiser’s standards, regional loan limits, and the most knowledgeable local lenders. A certified Realtor is priceless, and the right lender can make all the difference.

One of the monumental myths still floating around out there, is that the home seller will have to pick

up a certain amount of closing costs for the VA home buyer. While it’s true that the VA declares certain non-allowable fees, (a fee required by the VA, but that the buyer is barred from paying) it is never a VA requirement that a home seller pay these. Let me repeat: The VA does not mandate fees to be paid by the Home Seller.

— Join us for our next Free, No Obligation Veteran and Military Home Buyers Forum —

And the magic? Ahh this is where it get truly interesting. Did you know that in addition to buying a home with $ZERO down… that’s NO Downpayment… the VA home buyer:

Pays NO private mortgage insurance premium requirement (commonly known as PMI)
Pays only the closing costs that conform to VA limit rules
Can negotiate closing costs to be paid by the seller (this would be negotiated through your trained and certified agent and specified in your contract)
May pay the loan off early with NO penalty charged by the lender

There are significant positive changes in store for Veteran and Military home buyers in 2020!

Need help navigating the VA process? or Simply have a few questions? We’re always happy to help!