I just closed a loan for a VA Buyer that got a great deal! He used a 100% finance VA Loan. I consulted with his agent and we asked for the maximum 4% seller concessions to help with his closing costs. He was a 1st Time Home Buyer, and is a long haul truck driver. He was only in town for a few days during the whole transaction, yet we were able to work together to get his deal approved and closed in just 45 days.
There were many days when we were burning up the blackberry lines to get info back forth. He was a great buyer, and did a great job of finding libraries and fax centers to print, sign , and return pertinent docs. Constant communication was the key to meeting all terms of the contract.
The best part of the deal? There were many.
He got a home for less than the appraised value.
He got the $8000 tax credit as 1st Time Home Buyer
He got a great rate on a VA Loan
The VA Loan did not take a long time to close
He only had to bring $8 to closing.
He did put $1000 down on contract which was used to doc stamps, intangibles, and a couples fees.
I worked this deal as a loan officer and was referred the loan portion from a GREAT LOCAL AGENT who is not the least bit concerned that I am also a real estate agent. We have a great partnership as loan officer - real estate agent, and work together to promote our businesses. I realize that there are many agents that would not choose to work with a loan officer that is also an agent. I wanted to show that these partnerships can work out well when proper expectations are set to creat win-win situations. You just need to find the right partners. Honesty, integrity, and hard work still count for something.
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