Top 5 Myths About Your VA Home Loan

Dated: 11/10/2016

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5 TOP MYTHS ABOUT  VA LOANS

VA loans can only be used once -  You can use your VA benefit as many times as you like.  Just make sure you have the eligibility to purchase the property you want. Send your DD214 to your direct lender to

obtain the Certificate of Eligibility. Order your DD214 here - http://www.archives.gov/research/order/standard-form-180.pdf

Sellers won’t accept VA offers – Informed agents and sellers know a VA offer is a good offer, if properly written.  Foreclosures and short sellers can be hesitant to accept a VA offer, but a good cover letter from an experienced agent can turn your offer into a purchase contract!

Loans take too long- That was true 5 years ago!  A direct lender, like Amerifirst Financial, has designated authority to approve a VA loan without sending the file to VA. This means it can close in 30 days like any other loan.

VA loans are expensive- VA rates and costs are very competitive and carry no PMI, even with zero down payment!  This saves you hundreds of dollars each month.  With seller paid closing costs, your up front investment can be zero, this is called a VA NO NO.  Rates are as good or better than other programs.

VA appraisers require repairs- VA will require a termite clearance and  health and safety issues to be repaired prior to closing, just like any other loan program.  Items like broken glass and exposed wires will need to be repaired.  You can buy a fixer-upper, just make sure it’s cosmetic or negotiate with the seller for potential repairs. An experienced agent can point out potential repairs and incorporate those into your offer. 

With your Certificate of Eligibility and a preapproval from a direct lender, you are ready to go out and find your perfect home using your VA benefits.  You served your country and deserve this terrific benefit to secure your family’s future!  Call Glenda Meyer at 619.246.5525 from Mann Mortgage today  to find out more about buying your next home with your VA benefits!

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Glenda Meyer CA BRE#00793271

Ready to help you find that perfect home with a perfect loan. Using 20+ years of experience to make your home buying experience flawless!....

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