Military Buyers & Sellers Real Estate Blog

  • The 5 Best VA Home Loan Benefits

    Modern homebuyers can face a mountain of restrictions when applying for a mortgage. Tougher credit standards and higher income requirements have pushed many prospective buyers out of the market altogether. Enter the VA home loan. Throughout the housing market meltdown, the VA loan program has remained steadfast in its mission: providing accessible and cost-effective loans to military members. Veterans and…

  • 4 VA Appraisal Dealbreakers (and How to Handle Them)

    4 VA Appraisal Dealbreakers (and How to Handle Them)

    Let’s be honest: The VA appraisal has a reputation of being problematic. But it doesn't have to be. With a little knowledge and a watchful eye, you can help guide your buyers to properties that will easily meet the VA's Minimum Property Requirements. Boost your VA appraisal know-how with a review of four big VA appraisal pitfalls to avoid: 1. The leaky basement Water can cause an unbelievable amount of dam…

  • Jump Your VA Appraisal Hurdles in 7 Steps

    Jump Your VA Appraisal Hurdles in 7 Steps

    One of the most dreaded responses a loan officer or real estate agent can receive from an appraiser is that the home requires repair to pass the VA’s minimum property requirements (MPRs). While the purpose of MPRs is to protect the buyer and ensure the home is safe, structurally sound and sanitary, there’s no doubt that this news can be frustrating. The best way to prepare your clients is to be a VA-savvy age…

  • How to Challenge a Low VA Appraisal Value: The Reconsideration of Value

    Military buyers wait on pins and needles for the results of the VA appraisal. A low appraisal value sends a stinging message to would-be homebuyers: This deal might not fly. Don’t toss that transaction out the window just yet. A fighting chance remains for those buyers who can show that a VA appraisal value is erroneously lower than the asking price. Let’s talk about the VA’s Reconsideration of Value. …

  • 4 Tips for Buying Distressed Properties With VA Loans

    What military buyer wouldn’t want to shave more than a third off the price of a home? Distressed properties sold at an almost 37 percent discount in March 2017, according to RealtyTrac. Fortunately for cash-conscious military buyers, VA loans can be used to purchase foreclosure or short sale properties if the property meets the VA home loan guidelines set by the Department of Veterans Affairs. But as expe…

  • Sellers: Is Your Home VA Loan Compliant?

    VA home loans are low-cost, flexible and borrower-friendly. And they’re soaring in popularity. It's no wonder that eager sellers want to tap into the VA buyer market. What’s the first step toward that goal? Ensuring that properties meet VA appraisal guidelines. In truth, whether or not homes meet guidelines is often a hard determination to make. VA appraisal guidelines leave much to the individual a…

  • Cheat Sheet: VA Appraisal Timelines By State

    A required step along the path to VA loan approval, the VA appraisal takes place shortly after contract acceptance. The appraisal helps lenders calculate a home’s reasonable market value and ensures the property measures up to the VA’s Minimum Property Requirements (MPRs). It’s a tall order for a VA appraiser. Compiling these detailed reports takes careful analysis, supporting documentation, and most importa…

  • An Overview of Property Types Eligible for VA Loans

    Apartments, condos, manufactured homes, co-ops, single-family homes — modern real estate has come a long way since the days of the one-room shack. The current market offers a wide variety of homes to satisfy any buyer’s desires. But VA loan buyers will need to focus on certain types of properties to win final loan approval. Knowing how VA loans work is the first step toward getting the home of your drea…

  • How Long Does it Take to Close a VA Loan?

    How Long Does it Take to Close a VA Loan?

    It’s an extremely common question for many first-time homebuyers: "How long will it take to buy a home with a VA loan?” And it’s a tough one to answer. Buying a home is a multi-step process, and everyone's homebuying journey is different. But there's a lingering myth that VA loans take forever to close. And that's simply not the case. Most VA loans close in 40 to 50 days, which is standard for the mortgag…

  • The Importance of Being Earnest: All About Earnest Money Deposits

    The meaning of earnest money is in the name -- it’s a deposit of good faith on a home loan from buyer to seller. An earnest money deposit will set your offer apart from other applicants, and it's generally an accepted part of the VA loan process. Buyer Protection Breaking out the checkbook and presenting an earnest money check to the seller shows that you’re a serious contender, and it helps your offer …