VA Eligibilty Still Means You Need To Qualify For A Mortgage

Reblogger Marcus Rice
Real Estate Broker/Owner with Equity First Realty VA BKR# 0225058489

Great Blog, Great information for Realtors, buyers and sellers. Thanks for sharing this detailed information about how real estate should be handled. The Marcus Rice Team with RE/MAX Allegiance in Richmond Va agree with this blog.

Original content by Cindy Jones

VA Eligibility-You Still Need to QualifyThis week an offer came in on one of my my listings in Northern Virginia.  It was a good offer, well written with terms and conditions that could work for the sellers.  However there wasn't a lender letter included which is a key piece of an offer.   When I called the agent their answer floored me.  "But they are VA eligible so we don't need a lender letter."

For any agent who isn't familiar with a VA Letter of Eligibility perhaps it could be confusing.  In Northern Virginia we have a lot of active duty and retired military who are eligible for VA loans..  However it doesn't automatically mean a buyer qualifies to buy a home.   Buyer's still need to meet today's tougher lending requirements.  This means a good credit score, verifiable income and a  debt to income ratio that falls within the lenders guidelines. 

If you are a buyer eligible for a VA loan it is one of the few zero downpayment loans available.  It offers a great opportunity for a buyer to get into a home with very little out of pocket expenses.  However don't forget the important step of talking to a lender before you begin your house hunting.  Making sure you know how much home you can afford with a VA loan is important. 


If you are eligible for a VA loan and are looking for a home in Northern Virginia give Cindy Jones and CJ Realty Group a call at 703-346-2213.  We understand VA loans and how to write an offer to give you the best chance of buying the home of your dreams with a VA laon.



                No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group, Inc a call at 703-346-2213. 

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