VA loans Vs Market
You Still Need Follow Rules

VA loans Vs market: VA mortgage loans are “the most sure thing” for a veteran to get approved to finance a home.

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However VA mortgage loans are still subjected to the rules of the market like any of the civilian folks have to meet

Actually in some instances home buying with VA mortgage can be even more restrict overlaying its own set of requirements on top of those of the lenders.

So VA mortgage loans are still subject to the “rules” of the market, like:

• Certificate of Reasonable Value (CRV) – this is the VA’s jargon for home appraisal. Actually I think that this is a more accurate expression of the property evaluation, once that appraisal is not a scientifically exact process.
• Your credit scores still need to comply with the current requirements
• Your proof of income as well as debt-to-income ratio
• …and any other requirement any of the civilian folks have to meet

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Examples of Crossroads of VA loans Vs Market

Here are three examples of veterans I have been honored to be selected as their real estate professional when they were looking to buy their homes and the SNAFUS we had to fix before we could close:

• I once worked with a lady veteran: A the time her “credit scores” were not up to the market’s requirement.
  
  At the time she had been awarded the custody of her niece and she wanted to be ready and settle down when the new school year was to begin.
  
  I was instrumental to instruct her or what she needed to do to up her score …and boy, did she worked that to a “T:” We started working together in May, by mid August she had the FICO® score needed to move forth with her offer and we closed on her home the first week of September.
• Another Vet had was behind on his student loan: We had to bring that to good standard before we proceed with the VA mortgage loan: You cannot taken another “government guarantee” while in default with another :-(
  
  It took about six weeks for that to clear so we could proceed to the closing table

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Disable Veterans Waivers

VA loans Vs market: AN ESPECIAL NOTE for disable veterans: You may be eligible for some “waivers” due to your condition.

I once worked with disable vet whose “income to loan amount ratio” would not allow him to qualify to the loan he was seeking – however a special waiver was granted him due to his disability.

If you think you are in this situation – by all means do not give up without “a good fight:” Ask your real estate profession to research, check VA links I have posted here on my pages, call the hotline I also have posted here, locate the VA Mortgage Center on your are, call your state’s senators and/or your representative – one of those or any combination of is ought to bring you some help!

Put that soldier’s determination to your own good use! :-)

However before you delve deep on the VA loans Vs market make sure that your VA eligibility is up to speed – plea
Return from "VA Regional Loan Centers" page to Home Buying Hubse click here to read more

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JC Fagundes, Head Broker
EQUAL SERVICE TO ALL.
Residential. Commercial. Investments.
Ph: 404 801 4141

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