The VA conducted a survey several years ago that showed 1 out of every 5 veterans do not realize that they may qualify for a VA loan.
That's a high number of people. Two really great things about a VA loan are they require no down payment from the buyer and the seller is allowed to pay the buyer's closing costs.
Unfortunately, getting a VA offer accepted is a bit of a challenge. That's because sellers and their agents hear awful stories about VA loans taking longer to close or costing the seller extra money, which are not necessarily true. Take a short sale for example -- I often urge my short sale sellers to accept a VA offer. Because I know those VA buyers will wait for approval. They are serious buyers.
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At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.