VA loan is called that, because is guaranteed by US Department of Veteran’s Affairs. As name suggest, it is not regular (anybody can apply) loan. It is offered to our men and women in uniform (soldiers ).

Pros? This is the only loan on the market (as of right now) that allows you to purchase home with literally $0 out of pocket. As with FHA, you can ask seller to contribute toward your closing costs. There is actually no maximum as long as those closing costs are customary, but 6% of the purchase price is safe bet.

Cons? As with FHA, home needs to appraise, so even if seller agrees to cover your closing costs,there is chance that value is just not there. As with FHA whole process is long, there are weird rules that may complicate deal (for example buyer is not allowed to pay for “wood destroying organisms”  inspection). It seems like a great thing until you find out that seller ABSOLUTELY refuses and you as buyer do not mind to pay, but rules are rules…no legal way of going around it. And of course you want to make sure before you start looking for a house that you qualify for VA loan. And this is one more step on top of getting approved for loan.  


Call or email listing agent Anna Chroscicki with RE/MAX Masterpiece Realty at 772-485-4188 or anna@annasellsrealestate.com.



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