This is such a special day for our Country, so many men and women have served over many past decades, to hold our freedoms dear. As a member of a three generation veteran family, we will wave our flag proudly and we will attend our town's Veteran's Day Parade. I hope you will too!
As a realtor, I hope veterans, who may be looking into real estate, will take advantage of the VA Home Loan benefits for a primary residence. The VA offers special mortgage rates and 0% down. To be honest, this is harder than a conventional loan because the VA inspectors and appraisers are stricter than those working for a conventional loan. However, you know you are buying a property in good shape, with nothing hidden. The VA loan is backed by a traditional mortgage lender, with a portion guaranteed by the VA. This makes it appealing to lenders.
The VA traditionally would not allow buyers to enter into a written buyer's agreement. On August 10, 2024, the VA enacted a temporary policy allowing buyers with VA home loans to pay for real estate professional representation. This agreement is negotiable with the seller and the buyer.
The NAR is working to ensure that the descendants of certain veterans may use an unused home loan benefit. Also, they are advocating for a veteran to be able to sell their home to a buyer who can assume their existing interest rate.
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