Seldom do I ever get political or controversial with my posts. But I just have to say something that really burns my butt! My husband and team partner, Jim, is currently working with a new family. They found a great home and decided to go forward with an offer.
The buyer happens to be a retired veteran and was part of the 82nd Airborne Division of the US Army. He is also a retired Passaic Firefighter and his wife is a nurse.
They sold their home and are now renting while they search for a home here in Morris County. After submitting an offer, with supporting documentation, we were told they were up against another offer. Because our clients were using a VA home loan, we were asked if they could ‘put some skin in the game’.
Just in case you weren’t aware; a VA home loan is a mortgage given to veterans under the GI Bill of Rights. Providing veterans with a federally guaranteed mortgage with no down payment.
Seems fair enough, right? WRONG. We had to go back to our clients and explain that even though you served your country, the city of Passaic, you’re a husband, father, and supporting four kids through college, it wasn’t enough skin.
Now I do not know the terms of the other offer and they could have been better, we’ll never know. But all things being equal, if a buyer is qualified and presents proper documentation for a mortgage, let’s try to explain to our selling clients about the VA guidelines. We are going to see more buyers taking advantage of their VA loan opportunities, so let’s give them a chance to be part of the American Dream and Homeownership. And if you’re a Veteran and reading this post, I am sending you a heartfelt thank you for serving.