VA Loan Confusion Puts Veterans At A Disadvantage


TAMPA, Fla. – The VA Loan is a benefit that US military personnel and their families have earned for their service in our country.

For many, this has been crucial in moving to a new duty station or in finding a forever home.

However, the current housing market is doing our members a disservice if the VA loan process is not widely understood.


What would you like to know

  • The Confusion of VA Loans is a Disadvantage for Veterans When It Comes to Home Buying
  • A Tampa real estate agent says there are three big misconceptions about using the VA loan:
    • Seller must pay buyer’s closing costs
    • Assessment is difficult
    • VA loan takes longer to close
  • None of this is true

In today’s aggressive real estate climate, if an agent is not well versed with the VA loan process, it can backfire on our veterans depending on how the agent educates their salespeople.

Sunny Alexander is a Tampa real estate agent.

She and her husband both served in the US military and say the military has opened a lot of doors for them.

Sunny enjoys helping other military families find their homes, but is seeing a trend in the VA loan.

“These are amazing families who have sacrificed so much and it is heartbreaking to see them not having a chance on a home just because of the misconceptions about the VA loan. They deserve the best, ”she said.

Sunny is so convinced that for our interview she brought two backups, her own builder and a veteran buyer and seller.

“I just found out recently that she used a VA loan. This therefore testifies to the fact that it is transparent. I didn’t even realize it was a VA process. We closed on time, no valuation issues, and everything was great, ”said Jason Starling, builder of Starling Homes.

However, that was not the case for army veteran Brandi Torres and his family.

Her husband is on active duty and it’s time to sell their Tampa home and move their family of six to Austin, Texas.

“The first real estate agent we spoke to, when we told her that we had chosen to use our VA loan, she said, ‘well, you’re not going to be able to buy here. You’re going to need to rent for 6 to 12 months to see what the market is doing, “and she hasn’t spoken to us anymore,” Torres explained.

They were insulted.

They’ve used their VA loan at least three other times and nothing bad has ever happened.

Right now, their home in Tampa is about to go on the market for $ 700,000.

“We’re not new to the military, we’re not a young family, we’re both established in our careers, we’re a two-income family and so for someone to assume we didn’t available funds or whatever. that was discouraging, ”she said.

New legislation for the VA loan released in 2019, but Sunny says many agents, especially those with smaller military populations, are out of date.

“Veterans, as long as they qualify their debt to income sustains it, they can get up to $ 2 million or even more for a VA loan,” she said.

Sunny thinks there are three big misconceptions about using the VA loan.

1. The seller must pay the buyer’s closing costs.

2. Assessment is difficult.

3. The VA loan takes longer to close.

She says none of this is true.

“The veteran gets a lower interest rate, there is no down payment, the veteran is a solid buyer. Basically, the foreclosure rate on a VA loan is 1.98% compared to the conventional foreclosure rate of 2.47%, ”she said.

For seasoned buyers who don’t have a lot of cash on hand, she suggests looking for new construction or homes where the seller had aggressively priced the home and is now chasing the market.


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