The Worst VA Mortgage Advice I've Ever Heard

In this episode, Jennifer talks about the craziest VA mortgage story she's heard in a long time. A loan officer from a major lender told a veteran, out of the military ten years, to re-enlist just to buy a house! This officer also gave incorrect advice about using new job income. Jennifer stresses that a company doing many VA loans doesn't guarantee knowledgeable loan officers. She urges listeners to be cautious and always verify information before making life decisions.

Transcript

SPEAKER_00 0:00

I just heard the craziest VA story, the craziest VA mortgage story I have heard in a long time. In this video, I'm gonna be talking about how just because a company does a lot of VA loans does not mean the loan officer you're talking to is gonna give you good advice or no VA. I got an email today from Alyssa on my team. Alyssa's one of the gals where if you guys have questions, you can always call us and we're happy to answer them. And uh Gallaud called in. She's like, hey, we've been working with this company. This is a huge company, guys. It's one of the biggest VA lenders in America. They're very proud of it. They love to talk about it. I like to talk about it too, but they love to talk about it. And she's like, the loan officer we're working with has told my husband he has to re-enlist if we want to buy a house. And Alyssa on my team's like, does he want to re-enlist? No. Wait a second. So the loan officer's telling him to re-enlist? Yes. Well, he said we have to because we want to move to a new state, and my husband's job, we don't know if they'll transfer us. So wait, your husband has a job in this state. You're not sure if they're gonna transfer. So the loan officer's telling your husband to re-enlist in the United States military so you guys can buy a house in another state. Yes. Whoa. So Alyssa tells me this, and I'm like, there's gotta be something we're missing. There has to be something we're missing. Maybe he's still active duty. Even if you're active duty, a loan officer should never be telling you to re-enlist. It's up to you if you decide to re-enlist. Re-enlisting in order to buy a house, don't do it. Only re-enlist if you want to re-enlist. So I call the client because I'm like, there's got to be something. This is too crazy. It's too crazy because they were also telling this couple that their current jobs, unless they could transfer those current jobs, that if they got new jobs in the new state, they would have to have those jobs for two years before they could use that income. That's wrong. Okay, that's wrong for every single loan program. So just so you all know, right, let's say you're out of the military. This is just like a side, you have a job at XYZ Corporation, you want to move to California, and you're getting a job at JBZ Corporation, I can use this income. It doesn't have to be the same employer. I can use your new employer's income. I need a job offer letter that has how much you make, whether or not it's contingent, there's aspects, but it's doable. So he had told this couple that the only way they could buy a house would be if this employer would transfer them or they re-enlisted in the military. So I called the couple, I verified all this information. Yes, that is in fact what the loan officer advised them. And I was curious because I was like, wow, telling someone to re-enlist to get a mortgage, that's not right. You're not supposed to do that. But also, when did he get out? Right? Aren't you guys all wondering? Like, did this guy just get out? Is he getting out soon? Like, when did he get out of the military? Ten years ago. Ten years ago. So this guy's out 10 years ago from the military. He's happily out. He goes to buy a house, he calls one of the biggest VA lenders in America, and they tell him to re-enlist.

unknown 3:46

Oh my god.

SPEAKER_00 3:47

Oh okay, sorry. I know, I know, I know. I just because here's the thing: this lovely couple has been talking to recruiters, and I'm like, does he want to go back? If he wants to go back, like, look, like we've had a lot of clients where they're like a Marine, then they go into the army, then they join some, like they're never leaving. I get it, there's lifers, and that's cool if that's what you're into. No, he doesn't want to go back. He doesn't want to go back. But they've just been working on the assumption that this is normal because this is what the lender told him to do. And the lender told him they don't really need to see that he's in the military, they just need that military contract because they can use that as income. I think we all know, everybody who's watching this video knows that if you re-enlist with the United States uh military, that you don't have a choice on where you go and what you do. You will be working for the United States military. So, although the lender just needs the contract, this gentleman would be taking on a completely new life path for himself and his family. Why? Bad lending advice. Seriously, like that's why I was so shocked. Is I was like, who would ever tell someone who's been out for 10 years to re-enlist? I it just doesn't make sense. It doesn't make sense. So really be careful out there. Just because a company does a lot of VA loans doesn't mean that the loan officer you're working with is going to give you good advice, nor will they know VA. Because that's the thing, too. Like what this guy was suggesting, you know, they were looking at contracts with reserves. It wouldn't have even worked. That's that's the thing. This gentleman could have ended up re-enlisting in a position where it wouldn't have even worked for the loan, but he now has a contract with the United States military. That he doesn't want to do. Wow. Have you guys ever have you guys ever heard this before? Have you had someone tell you to re-enlist to buy a house five, ten years after you're out of the military? I mean, it's wild, so wild. But yeah, watch out there, guys. Just because someone company does a lot of VA loans doesn't mean they know what they're doing or they have good advice. Please be careful. Thanks for watching. Oh, and if you guys are being told something that sounds crazy like this, please call my team so that we can give you good information so that you can make life decisions based on accurate information and not, you know, fake guidelines that don't exist. Thanks for watching.