Soldier to Soldier Hawaii

Top 3 most important things to know about a VA loan

What are the top three things
you as a real estate agent should know about a VA loan? Number one, it always
has this 0 percent down. Maybe they qualify. Maybe they don't. Narrative. Well, guess what? That is untrue. The actual mortgage delinquency
rate is lower on average over the last 30 years with a VA loan
than with a conventional loan. In Q3 of 2023, we saw that rate at 1.

99%. So well below the 3. 4 number two. Now we're looking at a late 2023
into 2024 real estate market where compensation could be changing. Well, agents, you should know that
a VA, the veteran buyer cannot pay a commissioner admin fee to a brokerage. That's right. So if the seller is not willing to. Pay a commission. Either you work for free, but the
buyer, the VA veteran, cannot do that. That is chapter eight, section
three C of the VA handbook. Uh, just one of those little unknowns
that unless you do some VA loans and work with veterans quite a bit, you
wouldn't probably have that understanding.

Number three, and that's the appraisal. If you're going in to say 0% down and
you only need a small amount of reserves for a VA loan, then the appraisal. Or the inspection through a VA appraiser
is going to be a little bit more in depth. They're gonna be looking at the water
heater, the HVAC, things like that to ensure you don't have one of these
utilities or fixtures that's going to be, uh, at the end of life, and
therefore a fixed expense that could be coming to that veteran very, very soon. So, these are the top three things
that you should know about a VA loan or a real estate agent..

contact me today at 808-312-7884 Soldier to Soldier Hawaii Realty