3 Reasons Why Sellers Should Rethink Accepting an Offer Approved for a VA Home Loan (2024)

Talk to any veteran, and they’ll tell you that they don’t regret their service. Many of them would choose to serve again if they had the chance to do it all over again, and the VA understands that, which is why the Department of Veterans Affairs offers a mortgage loan program called the VA home loan to its eligible applicants who want to purchase their own homes. In case you were curious about it, here are three reasons why sellers should rethink accepting an offer approved for a VA home loan...

VA loans lower appraisal myth debunked

Many sellers incorrectly believe that their property won’t sell for as much if it’s appraised at 100 percent of market value with a VA loan. But in reality, it doesn’t matter whether or not you have a conventional loan or a VA mortgage; your home is going to be worth what someone is willing to pay! However, homes eligible for a VA loan generally appraise at or above value almost as much as a conventinoal appraisals. In fact, I would dare say they come in at value more often than FHA appraisals, although this is just from my 14 years of experience representing buyers of both loan programs.

Most VA borrowers are more than qualified

Although most Vetrans take advantage of the benefits that a VA loans offers, don't be fooled thinking they are only going that route due to lack of down payment. This simply isn't true. Majority of the borrowers are able to do Conventional, FHA, or USDA loans and even in many cases able to place a substantial amount down. However VA loans offer many pro's that outweigh the other loan programs and this is why most Vetrans choose to go the VA route.

Active duty borrowers receive GUARANTEED housing allowance

Like military members, servicemembers and veterans of active duty who are on orders that require relocation to, or retention in, a high-cost geographic area will receive their monthly housing allowance. This automatic payment adjustment is called Geographic Adjustment. Servicemembers and Veterans will not have to submit any documentation or application in order to receive GA payments. If you are getting a VA home loan then find out if you qualify for active duty GAR.

They fought for your freedoms, now it's your turn to fight for them

Veterans put their life on the line for our freedoms and it's important to acknowledge that. The next time you are selling your home and reviewing similar offers, please consider going with a VA offer. It's a small way of saying thank you for the sacrafices you and your family have made.