Using a VA loan to buy a home in San Diego has gotten easier in 2010. Overall, sellers including banks are more knowledgable about how the VA loan process works today and as a result are more secure about military homebuyers. The myths about VA loans taking a much longer time to process, are costlier for the seller and difficult to work with have greatly eroded.
The shift started to take place in San Diego as home prices fell and more VA homebuyers entered the market place. At the same time, the foreclosure inventory started to shrink while there was an upswing of normal sale and investor flip homes. It became increasingly hard for sellers to ignore offers with VA loans in San Diego when the buyer looked strong with great credit scores and solid financial history.
It also helped that the local MLS made it a requirement for agents to make public the type of buyer financing obtained for each sale. This meant, Listing agents can track whether homes in a particular community were recently sold with a VA loan in San Diego. As more homes where sold with VA loans the more sellers felt encouraged to accept offers from military homebuyers.
This new direction in VA loans being more acceptable in San Diego is a major win for the active duty service member. A VA loan is the only type of financing available on the market to purchase a home with zero down and no mortgage insurance. It's a perfect storm to use a VA loan to buy a home in San Diego with lower home prices, low interest rate and more acceptance of military homebuyers.
Lorraine Santirosa is a real estate agent known as "The VA Queen" who helps military families in San Diego buy or sell their homes. She's one of the few real estate agents in San Diego that has knowledge and experience about the US Government HAP (Homeowners Assistance Program) Benefit. For a quick response call Lorraine at 619-248-5484