How can I find out what Town home Complexes accept VA Mortgages?? (fees, financing)

[Felicia327]

Good Afternoon,

We live in Orange County, New York and have been working with a Realtor. We have seen several properties in the Monroe, Highland Mills, and Harriman areas. We made an offer on a Townhouse, but was told the development does not accept VA Mortgages. I get the feeling our Realtor wants us to go for a FHA LOAN, or a traditional Loan. Problem is, we have about $15k in cash. What do you guys out there think we should do? I've emailed my Realtor a couple of times and she's not gotten back to me. its been almost 2 weeks. Thanks so much for the advice!!

[ArkansasSlim]

Originally Posted by Felicia327

Good Afternoon,

We live in Orange County, New York and have been working with a Realtor. We have seen several properties in the Monroe, Highland Mills, and Harriman areas. We made an offer on a Townhouse, but was told the development does not accept VA Mortgages. I get the feeling our Realtor wants us to go for a FHA LOAN, or a traditional Loan. Problem is, we have about $15k in cash. What do you guys out there think we should do? I've emailed my Realtor a couple of times and she's not gotten back to me. its been almost 2 weeks. Thanks so much for the advice!!

In AR the agent has no voice in what is accepted, only the seller. A good agent though should help you find a seller who will accept VA. The agent doesn't have as many "hoops" to jump through with FHA, so that may be the reason she is pushing that direction. If your agent is that unresponsive, I'd look for another one.

[nmb30]

Originally Posted by Felicia327

Good Afternoon,

We live in Orange County, New York and have been working with a Realtor. We have seen several properties in the Monroe, Highland Mills, and Harriman areas. We made an offer on a Townhouse, but was told the development does not accept VA Mortgages. I get the feeling our Realtor wants us to go for a FHA LOAN, or a traditional Loan. Problem is, we have about $15k in cash. What do you guys out there think we should do? I've emailed my Realtor a couple of times and she's not gotten back to me. its been almost 2 weeks. Thanks so much for the advice!!

Hi Felicia327,

Are you looking at new construction or existing homes? The reason I ask is because it's very uncommon for an existing townhouse "development" to have any say over what type of financing a buyer uses.

If it's a new construction I'm pretty sure the reason the builder doesn't accept VA financing is because VA limits the fees a Veteran can be charged so either the seller has to pay them or the lender.

Personally, anyone that would basically discriminate against a Veteran like this wouldn't see a penny of my money. As far as I'm concerned, you've earned the right to take advantage of your VA eligibility so you shouldn't be pushed or persuaded to use any other financing option UNLESS it benefits you and FHA is not going to be a better option for you.

Your agent works for you so if she isn't attentive to you or mindful of your needs, fire her and find a new agent.