Veteran Misconceptions about VA home loans

By
Real Estate Agent with HomeSmart Realty West Cal BRE#01427412

Veteran Misconceptions about VA home loans - For millions of Veterans the VA loan has made a difference in their lives. It allows eligible Veterans and active-duty service members with lower incomes and less than perfect credit to become responsible homeowners.

 

However, many veterans share that little information is provided to them about the VA Home Loan Guarantee during their active duty career. This may partially explain why only 10% of Veterans are currently using their eligibility. A combination of the following two factors may offer the other reasons why so few Veterans are taking advantage of their home loan benefits:

 

 1. The VA does not have access to educate Veterans on the program which is left to the Dept. of Defense.

 2. The Real estate industry has been slow to educate both the professionals that service Veterans and the Veteran clients that need help with their real estate needs. There's also confusion in the mortgage lending industry in knowing the guidelines for the VA Lender's Handbook versus the overlays of the banks.

 

 So what does a military person really think about the VA Home loan since only 10 % are using the benefit and there is a lack of proper education? Here are some common misconceptions:

 

1. I heard about it but never understood what it was about.

2. I was never told about my VA benefit.

3. I didn't think I could qualify or it wasn't available to everyone.

4. I didn't pick up my certificate, so I didn't think I could use my VA Loan.

5. I didn't know where I go to get the right information

6. I used my eligibility once so I didn't think I could use it again.

7. It's only for Veterans and I'm still on active-duty.

8. It's only for military on active duty and I will get out in a few years.

9. I should wait until retirement to use it. 

 

 As a real estate professional that specializes in helping Veterans and military families buy and sell homes and a member of Veteran Association of Real Estate Professionals (VAREP) I strive to change the perception and communicate the many benefits of the VA Home Loan. It's important to work with a Realtor that has experience with VA home purchases.

 

This information is brought to you by Lorraine Santirosa a San Diego Realtor specializing in helping Veterans and active duty military buy and sell homes. For more information or help with buying a home in San Diego call 619-248-5484 or visit http://www.sandiegomilitaryrelocationexpert.com

 

Search Homes for Sale near San Diego Naval Bases

 

 

 

 

 

 

 

 

 

 

 

 

Search Homes for sale in San Diego using your mobile device

 

Download the KW real estate app from your mobile device app store. Then type the code: KWFKV6UA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Want to schedule a showing to see homes listed for sale in San Diego? Would you like to schedule a FREE no obligation consultation with a veteran and active duty real estate professional, call 619-248-5484 or visit http://www.sandiegomilitaryrelocationexpert.com

 

According to the California Department of Veterans Affairs, San Diego County is home to approximately 265,000 veterans as of 2007.

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Topic:
Home Buying
Location:
California
Groups:
Active Rain Newbies
Realtors®
Military Relocations
Keller Williams Active Rain Bloggers
US Coast Guard and Real Estate
Tags:
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san diego real estate
va loans
military housing
va jumbo
military loan

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