Our Veterans DESERVE to use a VA Mortgage Loan

I’ve been trying to think about how to title this post without “shaming” real estate agents or home sellers… but I do feel that it’s really unfortunate that some still have a low view of VA mortgages. Men and women who have dedicated their lives to serve our country and protect our freedom have EARNED the privilege to have a VA mortgage loan. Those of us who have not committed to serve do not have this benefit… and it is a benefit.

A VA mortgage loan allows a qualified Veteran to buy or refinance a home with a minimum down payment – even with a jumbo mortgage! With the reduced down payment, there is no monthly mortgage insurance – however there often is a VA funding fee. Plus, the interest rates for a VA loan is often as good, if not better, than a conventional mortgage!  They are really a screaming deal that these citizens deserve to be able to use.

A lot of the reasons why real estate agents and home sellers protest working with a home buyer who is eligible for VA financing are often outdated. Sellers often are worried about potential escrow closing cost with a VA buyer. With a VA mortgage, the Veteran cannot pay for the the buyers half of the escrow fee. That’s it!  Real estate agents common objection boils down the appraisal. When an appraisal is ordered, it’s done on a rotation basis and lenders have no control over who the VA appraiser will be… guess what – this is the SAME as a conventional, FHA or USDA mortgage today thanks to legislation that took place a few years ago. A VA appraisal might take a couple days longer – as long as the Veteran is fully preapproved, a transaction using a VA mortgage should be able to close in 30 days.

I’m proud to help Veterans with the financing of their homes and I encourage them to take advantage of their well deserved benefit with a VA mortgage. Veterans should compare the VA loan to other options to see which mortgage pencils out for their needs.

THANK YOU to those who serve our country!

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