Real Estate Real Estate Blog

  • VA Loan Basics: What is the Certificate of Eligibility?

    Lenders are required to get proof of a veteran’s service during the VA loan process. The Certificate of Eligibility (COE) serves as that proof, and tells a lender that an applicant has officially met the minimum service requirement. There is more than one way to obtain a Certificate of Eligibility, and while it’s a short and simple document, it can stir up a lot of confusion. Let’s clear up the mayhem a…

  • VA Loans and Credit Score Minimums: What All Buyers Need to Know

    VA Loans and Credit Score Minimums: What All Buyers Need to Know

    A good credit score is an excellent starting point for anyone considering a VA loan. But what exactly is a good credit score? Does the VA have a credit score minimum? How do VA credit requirements stack up against other mortgage options? One of the best benefits of the VA loan program is its relaxed credit requirements. Potential borrowers don't have to possess blemish-free credit reports and elite credit scores to secure VA financing. The VA loan program seeks to accommodate as many military…

  • 8 Things You Must Know About VA Appraisals

    8 Things You Must Know About VA Appraisals

    The VA appraisal is a unique evaluation of properties financed with VA loans in order to determine a fair market value of the property you wish to purchase. The VA appraisal is mandatory for every VA loan; home inspections are not. And with its unique guidelines, the VA appraisal is worth careful study by buyers and agents alike. Need a study guide along the way? Let’s take a look at eight things buyers and agen…

  • How Much Can I Borrow With a VA Loan?

    Once service members start thinking about a home purchase, a common question arises: "How much can I borrow with a VA Loan?" It’s a simple question. The answer? A bit more complex. Here’s a look at five factors that will determine how much VA loan you can get: Factor #1: The VA Guaranty The VA loan program doesn't employ a loan maximum. But there's a limit above which buyers need to make a down pa…

  • How VA Appraisers Determine a Home’s Value

    Contract? Signed. Movers? Hired. Appraisal value? $20,000 low. Uh-oh. Buying a home isn’t as simple as signing a purchase contract and packing a few boxes. All parties to the transaction must be fully on board with the purchase. And a VA lender will refuse to step on-board if a property’s value falls short of the loan amount. Should the VA appraisal value fall below the desired loan amount, buyers mus…

  • Roadmap to Success: Closing a VA Loan on a Condo

    So your buyer wants to use their VA loan on a condo? Make sure you follow this plan to avoid extra stress. It's easy for agents and buyers to get frustrated with the condominium approval process, so setting clear expectations early with all parties can prevent additional problems. While purchasing a previously unapproved condo can add some additional work, it's completely possible to close this type of loan. As…

  • How Buyers and Agents Can Handle Common VA Appraisal Problems

    A problematic appraisal is a typical fear among buyers and agents. Whether in the form of a low appraisal value or a litany of mandated repairs, VA appraisal challenges can be alarming. VA appraisal problems can slow down the process and even force buyers to restart the house hunt. Fortunately, buyers and their agents have options for handling appraisal challenges. Read on for solutions to the two most common …

  • The VA Appraisal and Electrical Systems: What Is Required?

    Are you wondering how your VA appraiser will feel about exposed wires, a sparking fuse box or knob-and-tube wiring? Ponder no more. Let’s talk about the electrical portion of the VA appraisal. MPRs and Electrical Systems The VA issues a list of Minimum Property Requirements (MPRs) to every VA appraiser. Appraisers must ensure that properties meet or exceed MPR standards to qualify for VA financing. …

  • 6 Factors That Can Sink Your Home Value

    House hunting? Ready to sell? It’s time to talk home value. No matter where you are on the spectrum of buying or selling, it’s important to know what will affect your home value. Several factors can singe your property value and potentially lead to a resale loss. Protect your investment and boost your resale return with a look at six items that can drag down your home value: 1. Busy streets Incessant hon…

  • Monitoring Your Reputation as a Real Estate Agent

    It may sound cliché, but the old adage “work smarter, not harder” is the most relevant piece of advice for agents and brokers alike. Increased costs and changes in homebuyer behavior have made it absolutely necessary for all agents to embrace this principle – especially when pertaining to marketing. Even if things are going relatively well, one thing holds true and that is you can always improve your market…