Three little “S” words: They can make or break a VA appraisal. If you’re familiar with the three “S’s” of the VA appraisal, you’re on track for a successful VA purchase. The VA appraisal ensures each home purchased with a VA loan is: Safe Sound Sanitary VA appraisers conduct a thorough review of each home to be financed with a VA loan. Homes that don’t meet the criteria of “safe, st… Full Article
Ever notice that some folks have a skewed view of life as a real estate agent? Considering how agents are depicted on some reality TV shows, that’s understandable. Agents with big incomes and lavish lifestyles undoubtedly bring in higher television ratings than your run-of-the-mill agents. And while those shows are entertaining and real estate agent tends to be one of the happiest industries to work in, they can… Full Article
Every employee should love their industry as much as the average real estate agent. Over the years, real estate has proven to be one of the top industries to work in. According to Forbes, real estate was the second happiest industry to work in 2016. According to the Top National Workplaces survey by WorkplaceDynamics, real estate was the best industry to work in 2013 . The survey polled 1 million employees to… Full Article
It’s the “information age,” not the “good information age.” Accurate information on any topic can be hard to find, and the VA loan process is no exception. From inaccuracies posted on message boards to bad blogs, there is an abundance of VA loan myths out there. Let’s tackle the five most common VA home loan myths and reaffirm the strength and flexibility of this unique financing tool. It only takes … Full Article
CREDIT. Encompassing FICO scores, income, debt and employment, credit plays a huge role in the VA loan process. Fortunately for veterans and active-duty service members, VA loans feature relaxed credit requirements when compared to conventional loan programs. Wondering what lenders will expect from a VA loan applicant? Take a look at these four questions that will definitely pop up during the credit evaluation.… Full Article
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… Full Article
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… Full Article
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… Full Article
The VA pays special attention to private water sources and you should, too. They aren't regulated by the federal government so the VA created specific criteria these water sources must meet in order to be deemed safe. Wells are one of the most common private water sources, but depending on your location you may also encounter springs, cisterns or rainwater catchment systems in use. Wells If your buyer goes… Full Article
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. … Full Article