Recently I was asked to assist a veteran in purchasing a home. While there were no homes for sale in Folsom that were in the price range this veteran could afford we were able to find a home in Cameron Park that will work. Getting the offer accepted is always a challenge because some agents don’t understand VA loans. However, with some education on the process I was able to get the offer ratified. The veteran is now going through the process of inspections, etc. to verify the condition of the property. It was such a joy for me to be able to call this person with the news the offer was accepted. The main thing for sellers to remember is often veterans don’t have as much money for a down payment due to circumstances but they are just as motivated to make it happen.
There have been lots of changes over the years in what the VA requires the seller to do or not do. They are now more like regular conventional loans in that the buyers and sellers can negotiate fees, repairs, etc. As a seller when you are presented with an offer from a veteran please remember to consider not only their service to our country and you but them as an individual. Remember also that even though they don’t have as much money to put down they have to have sufficient income to afford the monthly payment which may mean they have higher income than someone with a larger downpayment.
If you know of a veteran who would like to purchase a home, refinance or just have questions on how VA loans work please don’t hesitate to reach out to me. I work with loan officers that are very good at knowing what VA requires and can help through the financial process and I work with sellers and listing agents in educating the merits of VA loans.