In this current climate, there seems to be an extreme opposition to accepting an offer with VA financing, something I don’t recall seeing before during my many years in this industry.

There’s a side of me that wants to push back simply to support our active-duty military and our Vets. As the daughter of a Purple Heart Marine, the outright discrimination of our Vets hurts my heart.

But putting all emotion aside, accepting a VA loan, in my opinion, actually makes very good business sense on many levels and here is why!

• Transaction typically close in 30-days or less
• There is a defined appraisal due date
• There is a defined fee sheet with no arbitrary “rush” fees or “difficult” appraisal fees
• Borrower does not have a down payment requirement on one-to-four unit properties
• The Tidewater Act allows Listing and Selling Brokers upfront notice of potential low appraisals and provides the Brokers with the ability to send the Appraiser their preferred comps for consideration of value
• Appraisal stays with the Borrower, not the property
• No seller contributions required
• No home inspection required
• No added hurdles for loan amounts above the conforming loan limit (jumbo)
  • No added reserves at close
  • Not capped at a 43% DTI
  • No 2nd appraisal review
  • No 2nd underwriting review
• In-house VA Underwriters

Still have questions or concerns? Give me a call, 360-459-1200, or send me an email: michelle.wickett@axiahomeloans.com!

#mortgagesbymichelle #practicaltipstuesday