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Well, VA loans are a little harder than, say, FHA, but not too much. The VA requires a termite inspection, so plan for that.
The main difference is it takes longer, because there is an extra approval layer to go through. It could take as long as 8 weeks to close with a VA loan.
As a seller, all you have to do is be willing to accept a VA loan. The buyer obviously will be a veteran who does not need to put any money down, other than closing costs. The loan can be 100% funded without a down payment. There is a small funding fee that is added, and that increases on your 2nd or later VA loan.
I also believe the buyer cannot pay for the home inspection, either the seller has to or the buyer's agent.
Not true. I was a VA buyer, and my lender said VA borrower cannot pay for the home inspection. For some reason, the VA prohibits it. I mean, of course you can pay, but don't tell the lender you paid for it. At least in Ohio that is how it is.
Not true. I was a VA buyer, and my lender said VA borrower cannot pay for the home inspection. For some reason, the VA prohibits it. I mean, of course you can pay, but don't tell the lender you paid for it. At least in Ohio that is how it is.
The majority of buyers I work with are using VA financing and I've never once had any party to the transaction other than the buyer pay for the buyers home inspection. I guess maybe the lender for each of those transactions didn't ask the buyer (or me), but I find that hard to believe (but I also don't really see the lender being concerned with anything other then termite inspect)
The majority of buyers I work with are using VA financing and I've never once had any party to the transaction other than the buyer pay for the buyers home inspection. I guess maybe the lender for each of those transactions didn't ask the buyer (or me), but I find that hard to believe (but I also don't really see the lender being concerned with anything other then termite inspect)
jbeechuck is referring to the pest inspection only (NPMA-33 form), not the regular full home inspection. VA doesn't allow the buyer to pay for the pest inspection in several states. Oregon doesn't require them so it isn't an issue here, but I know from other VA clients moving across state lines that they weren't allowed to pay for it in their state.
jbeechuck is referring to the pest inspection only (NPMA-33 form), not the regular full home inspection. VA doesn't allow the buyer to pay for the pest inspection in several states. Oregon doesn't require them so it isn't an issue here, but I know from other VA clients moving across state lines that they weren't allowed to pay for it in their state.
yeah termite is a known, I was just replying in regards to 'home inspection' language used
I find links that look good but usually just want me to fill out load aps.
If "ad" appears next to it, skip it. Look at the url, see if it's an organization, or a bank. The bank wants your business and that's why they want you to fill out a "load aps." I assume you meant loan app.
Call a real estate company. Whatever you do, avoid going to a VA web site. Unless you like merry-go-round rides!
Your buyer decides what loans to use not you, unless you are specifically targeting buyers who are veterans.
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yeah termite is a known, I was just replying in regards to 'home inspection' language used
