The Real Estate Agent Says You Can't Go VA On Your Dream Home

In this episode, Jennifer talks about a common challenge for veterans: when sellers or real estate agents mistakenly believe a property won't qualify for a VA loan. She shares the story of a client who successfully purchased a dream property despite initial agent resistance. Jennifer emphasizes that many agents are simply unaware of updated VA guidelines, such as no loan limits. Her team's approach involves direct, friendly communication with listing agents to clarify facts and address concerns, ensuring veterans can utilize their amazing VA benefit.

Transcript

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Happy VA Wednesday. Today we're gonna be talking about what to do when the seller or the selling real estate agent thinks the property won't go VA. That's right. You want to use your VA mortgage, but your real estate agent is saying, oh, the listing agent said this won't go VA no matter what. Okay, yesterday I was talking to our client Richard. Richard just bought a house that has 42 acres. No joke, I was so happy for him, and off-grid capabilities. Yes, look, it had it has a well, it has everything a lot of people dream of. Now, when he first went to buy this house, the listing agent told his agent, no, this won't go VA. This will never go VA. Richard had a pre-approval letter from us that said he was fully underwritten. It was in California, it was a large loan amount with zero down. The agent said, VA won't lend that type of money. Mmm, so let's talk about what we did so that we could help Richard get home. It's really simple, guys. A lot of times real estate agents or seller, generally it's the real estate agent, is saying that a house won't go VA because they don't actually know VA. They have preconceived notions of what VA is. Also, in this case, the real estate agent had been a real estate agent for 30, 40 years, but they had it kept up to date on the VA guidelines. Why would they? They're a real estate agent. It's not their job. Well, in 2020, VA made it, so there's no loan limits. So she's looking at this letter that's close to a million dollars with zero down saying, no way, VA won't do that. When in fact, VA does that all day, every day. So look, we're very basic with how we handle this. Whenever we have a client that says the listing agent says it won't go VA, my agent says it won't go VA, every single member on my team will say, why? And look, we're happy to call the agent. So what happened in this case is Jen Anderson on my team. Many of you guys know and love her. She called the listing agent and she just said, hey, like, walk me through why you think it won't go VA. It's never like confrontational. It's not like you said this won't go VA, we think it will. No, we start off with, hey, like, you know, he is fully underwritten, fully pre-approved. Yes, VA has no loan limits. So yes, you can do a million dollars with zero down. What are your concerns about the property? And then we listen to the agent about what their concerns are. And look, half the time I'm like, not a problem, not a problem, not a problem, not a problem. Also, VA this month updated their appraisal guidelines, so I expect even fewer problems. But from my perspective, there's very few houses that will not go VA. Okay. So she went through everything with the agent, addressed all the agent's concerns, and they ended up taking his offer, which was interesting because there was a cash offer on the table as well. But get this, the home seller liked the veteran better. Anyone shocked there? I'm not shocked at all. Makes perfect sense to me. So the key is this I think veterans are talked out of using their benefit all the time. And they're talked out of it just because people don't know the guidelines and they don't know how it works. So whenever you're look looking at getting a VA loan, make sure you're working with a loan officer that knows VA inside and out, knows how to work with VA if there's a problem. Because that's the thing. Like, look, have we had appraisals come back and the appraisers called out something that maybe the buyer or the seller doesn't want to fix? Yes. As a lender, do I need to go to VA at that point with a letter from you? Absolutely. But we know how to do it. Okay. And that's the thing. That's what we tell the listing agents and the sellers too is like, guys, we can handle this. Let me give you a few examples of houses that they thought couldn't go VA that went VA. So make sure you're working with a lender that's got your back, is comfortable talking to the seller or the listing agent or even your agent to explain how amazing VA is. Because that's the thing, guys. VA is an amazing loan. It's a huge benefit. And I mean, I just think of Richard. I was looking at the property just yesterday and rolling acres, hundred-year-old well, plus plus plus, like dinosaurs were drinking the water, um, beautiful home, big pool, shed, outdoor everything, outdoor kitchen, VA. And if Jen Anderson hadn't called that agent, he wouldn't be home right now. Thanks for watching. Questions, comments. If you want to work with myself and the team, give us a call. 786 933 2077. Yes, we want to be your lenders.