HOW TO BUY A HOME WITH VETERAN AFFAIRS LOAN BENEFITS

The American dream is a truly beautiful concept. Every citizen should absolutely be provided with the equal opportunity to achieve success through their own hard work and determination—and for many, the manifestation of this success is through home ownership.  This goes double for those who have risked their lives to protect and serve our country.

In fact, this is one of the many reasons in which U.S. Department of Veteran Affairs (VA) offers Veteran Affairs loan benefits to service members, veterans, and eligible surviving spouses. These loans can be used to buy, build, repair or remodel a home for personal occupancy and have terms and conditions that can be very beneficial for veterans. Some of these perks include:

  • A lower interest rate and closing costs.
  • The option to forgo a down payment or purchase mortgage insurance.
  • No penalties for those who wish to pay the loan off early.

Overall, these VA home loans are a major benefit for those who have served. Yet, for one Habitat Hunter family, this type of loan almost cost them their dream home.

Buying an Austin home with VA loans

After relocating from the Seattle area, Kirsten and Fred were looking for a home in the popular Northwest Hills area. Living in this neighborhood would enable them to fulfill their life-long dream of residing in a walkable neighborhood that was close to the schools their daughter Aanika would attend.

As a Navy veteran who served on a ship in the Persian Gulf during the Iraq War, Kirsten’s VA loan benefits were a natural choice for the couple to use during the house hunting process. Unfortunately, this was met with disdain from property sellers.

The sad reality is that most sellers and agents have no idea that VA loans:

  • Are no more expensive to a seller than other loans.
  • Generally close in roughly 30 days or less from the date the appraisal is requested, which can be during or after the option period.
  • Aid the people who serve our country.

This family lost out on multiple offer situations—until Jody and Habitat Hunters got the job done! It was Jody’s idea to have the couple’s lender, Chad (a fellow veteran with many years experience working with VA loans) write a letter explaining exactly how VA loans work in order to dispel any misconceptions.

The letter was presented to the sellers, and it worked!  As a result, Chad, Jody, and the seller’s agent will forever be using this letter for future sales where VA home loans are involved.

Now Kirsten, Fred, and Aanika get to enjoy their slice of the American dream in a home that is absolutely perfect for them.

If you’re ready for Habitat Hunters to do the same for you, then contact us today to get started.