Getting VA purchase offers approved can seem daunting to a home buyer (and Realtors too).
Many buyers experience a long frustrating process when trying to bid on Bank Owned, REO, Short Sale, or Corporate Owned Properties with a VA loan. Why is this? One of our preferred Realtors here in North County San Diego stated that a well presented, concise, and accurate offer is the key.
I fully agree that it boils down to much more than the type of loan you are using when trying to get an offer accepted. The overall presentation and quality of the offer is the difference. The net price to the seller must be fair, not a low ball offer. The home must be either in reasonable condition to qualify, or the plan to cure any deficiencies must be in the offer, and there must be a Pre-Approval letter that shows the diligence performed in the Pre-Approval process. This will show the seller (ie, REO listing agent, asset manager, bank approval department, etc) that the offer is well thought out, supported by a knowledgeable and detail minded Realtor, a committed buyer, and a quality lender that Pre-Approved the VA Loan before the offer was submitted. The presentation of the offer is key to acceptance.
I have heard from home buyers in many different market areas that their Realtor’s say “VA offers aren’t getting accepted in this market” or “the bank isn’t taking VA offers at this time”. We did a quick study of MLS records on the San Diego MLS and found that is not the case. Huge percentages of new purchase loans are made with FHA & VA Loans in San Diego County here in California.
The key: The Buyer and their Realtor stayed committed to the process, wrote quality offers, and then did what it takes to close the deal (IE Communicated benefits of this offer and details and commitment). It usually does take a minimum of a few offers to get one accepted in this strange housing market, but that is true of most offers, Cash, Conventional, FHA or VA financing.
The fact is that VA, and VA High Balance (VA Jumbo) loans are one of the best ways to purchase a home with minimal down payment for qualified Vets.
We serve the following areas for VA loans: California,Southern California,Northern California, Washington, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County. VanDyk Mortgage offers FHA, VA, & Conventional loans in addition to FHA Jumbo, VA Jumbo, and Conforming Jumbo loans (aka FHA High Balance, VA High Balance, and Conforming High Balance).
VanDyk Mortgage is a VA Direct Lender (since 1987) offering VA Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Mortgages of all types.
>>> Get started here on your VA Loan PreApproval or give us a call at 866-900-2342 (toll free direct)