VA Financing Real Estate Blog

  • Amendments to Sales Contracts Can Impact Closing

    It's not uncommon for a sales contract to be amended at some point between initial signing and closing. Whether it's to change the purchase price, deal with repairs or to remedy a surprise situation, amendments are needed from time to time in this business. But did you know that an amendment received after the appraisal could hold up your closing? The VA issued a circular on Oct. 1, 2014 and a clarification ci…

  • Commuting Costs and Your VA Buyer

    There are two situations where commuting costs come into play for a VA buyer. The first occurs when the buyer wants to purchase a home a significant distance from their residence. The second occurs when the VA buyer will become a geographic bachelor. As an agent you need to know if either of these situations applies to your buyer because it can impact their loan approval. Working a Significant Distance From Home …

  • Yes, VA Buyers Can Purchase Older Homes

    Historic, old, rundown or fixer-upper. Older homes come in various stages of repair. There's a common misconception that VA buyers can only purchase newer homes with their VA home loan benefits. The truth is, VA buyers can purchase older homes. But they'll need a knowledgeable real estate agent to identify the homes that meet both the buyer's requirements and the VA's. Minimum Property Requirements Minim…

  • You Can Convince a Seller: VA Offers Are Always Worth Considering

    Think back on your time as an agent. Have you ever come across a listing that accepted Conventional, FHA and USDA but didn't mention VA? I think most agents have seen at least one. There are sellers and agents who are hesitant to accept VA offers, often because of misconceptions. It's no doubt difficult to explain why to a VA buyer. That's why education for all parties is key. Hesitation and needless fear can mel…

  • VA Loans Are Booming. Get on Board With These 4 Essentials.

    If I were to hazard a guess, I bet you'll work with at least one VA buyer during your time as a real estate agent. The process will be a little different than what you're used to, but don't let the lack of familiarity lead you to dissuade a buyer from using their hard-earned VA benefit. After closing a few VA loans, you may begin to enjoy the service you are providing to those who've served our country. With a…

  • Effective Communication With a Lender: Tips From a Former Loan Officer

    Whether you're the buyer's agent or the seller's agent, communicating with a loan officer can occasionally get tense. As the seller's agent you want to ensure that your client gets the best deal possible and you want the loan to close on time. As the buyer's agent you want to ensure your client gets into the home of their dreams without a hitch. Not to mention there is of course the desire to get paid, which generall…

  • Agents Should Fight These 3 VA Loan Falsehoods

    They're lurking in the shadows and hiding in alleys. They're out to frighten buyers and sellers away from VA loans. They're misinformed real estate agents. Unfamiliar with the VA home loan program, these misguided agents just need some good information to get back on the right path. Let's clear up three common VA loan rumors delivered from agent to client. Falsehood #1: “Buyers and sellers: The VA apprai…

  • What Happened to My Credit Score? How to Handle Credit Mistakes

    Your FICO credit score: It really sticks with you, doesn’t it? And that can be a good thing. For those who develop healthy spending habits, a good credit score can provide lifelong benefits like low interest rates and greater access to credit. But what about those with a credit slip or two? Don’t panic. With time and better fiscal management, even the biggest credit slips can be buffed away. Let’s look at…

  • How To Grab Your VA Refinance Before Rates Climb Again

    These low rates: they’re a blessing and a curse. On the one hand, low rates help borrowers reduce a monthly mortgage payment, afford more “house”, and pay astoundingly less interest over the life of a loan. But on the other hand, those low rates can easily instill panic in a potential refinancer. Scared to miss out on the next rate drop, nervous consumers sit on the sidelines and wait. And wait. And wait.…

  • (Almost) Everything You Need to Know About VA Loans

    Looking for answers to your VA loan questions? Sometimes a Google search just won't do. So we've compiled the perfect database of VA loan information in one handy blog post. From prequalification to VA loan closing costs, everything military buyers and military-friendly agents need to know about VA loans can be referenced in this handy resource. The VA loan process is much less complicated than you might think…