My heart is heavy this morning as I struggle with something. Maybe you can help!!
Having Served in the US Marines Corps myself, I know the commitment and sacrifice one makes for his/her country. To be ready to take action at a moments notice, and lay you life on the line to protect the right and freedoms of Americans and Democracy both on foreign and domestic soil!
Now, our service men and women are returning home from tours around the world, and they are seeking to find a home to provide some stability and security for their family. As they go out into the Homebuying trenches, they are looking to use their 100% financing that we as Americans have given them as a benefit for risking their lives to protect us and our freedoms. Get you tissues out - because in our local market they are being left out in the cold - abandoned- alienated and homeless if you will.
Our military personnel are being put at the bottom of the pecking order when submitting offers on homes.
The perception from seller's is that they do not have any money which is why they are going 100% financing. We need to educate seller's better that maybe - just maybe - they are using their government benefit for risking their lives.
The second response is that a buyer with a higher down payment has a higher chance of closing. What a bunch of Baloney!! The problem is that we have lot of loan officers in the industry that are not familiar with VA loans, and do not know exactly how to handle them. This is a disservice to Military buyers. Loan officers without experience in VA loans need to leave this to those who specialize in this type of loan. I have always used specialized loan officer for this type of financing, and if they say the loan if doable - it is as good a gold.
Lastly, our Military personnel are ready willing and able to pay above asking just to secure a safe environment to raise their family. They are being disregarded by fears of the appraisal not coming in. Since when have we let a third party decide what a buyer is willing to pay for a home. While some may argue it is for their protection, I would beg to differ. It is doing more harm than good. A home is bought and sold when ther buyer and seller have a meeting of the minds. When a buyer says I am willing to pay X and the seller says I am willing to accept X. With the ridiculous amount of documentation needed to make sure the buyer can afford the home, if they can afford it, and are willing to pay for it - who is the appraiser to tell them NO? Is the lender worried about Job security?? Can we make an exception for Military personnel that so long as they can afford the payment, they should not be subject to the appraisal.
I want to make this Call to Action. While we may see a conventional or cash buyer as a quick way to make a buck, and assure a closing, we have a right to get the seller the most we can for his home. By doing some extra work and educating ourselves and sellers on VA buyers, we can make sure that our service men and women have a place to come "HOME" to, and that they are not being left out in the cold. Have they not seen enough? Have they not been through enough for us?
Please Take this on: I think our Military personnel deserve it!!
Comments(4)