For those Veterans eligible for VA Loans I have some great news – VA Loans just got Better!
If you’ve seen any of my videos or posts before, you know that I’m a huge advocate of the VA Loan. There are too many reasons to list here, but the primary reasons are
* Lower than Conventional Rates
* Ease of Process
* No Money Down
* No Monthly/Annual MI
Ok, so how could it get any better? Well, one thing is that the VA has something called Non-Allowable Fees. These fees cannot be charged to the Veteran. Sounds liek a good deal right? How could that be a problem?
The problem is that some of these Non-Allowable Fees are standard fees for services required in a Real Estate transaction. For Example, the Escrow Fee. Escrow is part every Purchase and Refinance transaction in CA. However, the Veteran is technically not allowed to pay for it. So in the past the Veteran Buyer had to ask the Seller to pay those fees which had a potential impact on whether their offer would be accepted or not.
Now that’s no longer a problem. We now have several options to combat this. The most amazing being a Lender that pays ALL of the VA Non-Allowable fees for the Veteran. Imagine that, a Lender that pays your fees for you! I’m excited to see Lenders finally moving in the direction of common sense. If the goal is to help people buy homes, then these are exactly the types of policies that will help that become true.
To learn more about how a VA Loan is right for you, or someone you know, CLICK HERE to shoot me a quick email. I’ll send you more information on how this works and best way to make it happen.