I love that moment when a person realizes that together we accompolished what they thought was impossible!
My most rewarding transactions are ones where I get to watch the joy of somoene becoming a home owner for the first time or again after thinking it would not ever happen.
The only word that comes to me is JOY!
This year I spoke to a man by phone who desperately wanted to move back to Virginia but he just could not figure out how to do it. He would come on holidays to visit family and would look at Open Houses and New Home Builder models but knew he could not afford to buy. He said he had already sat down with someone and they said he did not have enough income.
As I talked to this man I learned he was a 100% disabled vet and had also retired from a government job and was receiving disability benefits. His wife was his care giver so she got a check monthly from the VA also. Now this is far from a typical scenario and this is where my experience pays off for my buyers! I asked him if would he be willin to answer a few more questions. He said "Sure" and as he answered my finaicial questions I was adding numbers in my head very fast as he spoke. Ok I am thinking maybe this will not work but then I asked him what his dream home would be.
Very Important question!
People all have different ideas of what is the perfect home for them! Had I assumed and not asked there would ot be a happy ending to this story.
He said what I want and need is "A place I can call my own and raise my kids. A place where my wife can have the kitchen she always dreamed of. We were military and lived in base housing so I do not need granite, hardwood floors. stainless steel appliances. I need a home with four bedrooms and a finished basement. We would just love to be able to paint the walls and have a small yard for the dogs. We would love a place to call it our own." Ok now we are talking he did not need all the bells and whistles he was being very realistic.
If he had told me he wanted a totally decked out house with all the extras this would not be possible but he told me me his ultimate goal he was upfront and honest and spoke from his heart!
Now I thought I needed to help this man.
So I ran some numbers and told him I did not see anything standing in his way of home ownership based on what he just told me. I could hear his joy and surprise through the phone but he was still doubting what I was saying.
I said " You have disability income and it is not taxed. So when an underwriter looks at your income they will gross it up by 25% to make it equal to what someone with taxes being taken out would be getting.
Did anyone ever mention that?
He said No. I said in your case that is like getting a forth check of income each month and that will make a huge difference! I caculated all three of your incomes and you qualify with no problems you have no debt and your credit score is decent and you can buy VA Zero Down. This is a benefit that you are entitled to.
He was overjoyed!!
He actually got in his car and drove here several hundred miles the next day and was waiting for me when I got to the office. I found him a home he thought he would never be able to own and in 60 days he and his family moved in!
I am not a lender but I do stay up on the different loan programs and that is what made all the difference for this man and his family. You see if a Realtor or new home sales person did not know as a 100 % disabled vet he would not have to pay property taxes they would think he did not qualify. If they did not know the underwriter would gross up his income by 25% he would not have qualified. If they did not ask him what his dream of the perfect home would be they would think he did not qualify. He would have never even thought to go to a loan officer because he would have been still defeated and thinking he could not buy.
Moral to the Story - My years of experience helped this Family Buy Their Dream Home using VA No Money Down and they are now happy home owners when they were told it was impossible!
It costs nothing to have my experience working for you or someone you refer to me. Success is in the details the more open you can be with me the more I am able to help find the home of your dreams.
Call or Text Patty at 703-801-9367 Let me help you find your new place to call home!
Update to this story I called him several months after he settled and asked him to pull his settlement paperwork out. I had recently read an article that said some county's waive real estate taxes for 100% disable. I knew he was not paying taxes in his escrow but I seem to remember the settlement attorney collecting six months of taxes up front. Sure enough he took the settlement statement to the county and received a check back for the six months of taxes!!!
He was one happy guy with his forced savings he did not know about!! He is also a raving advocate for my business!
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