Santa Ynez Valley Association of Realtors
  • Home
  • Find a Realtor
  • Search the MLS
    • Search the MLS
    • Open Houses
    • New Listings
  • SYVAOR
    • Board of Directors
    • Affiliates
    • Realtor Resources
    • Real Estate Links
    • Continuing Education for REALTORS
    • Ethics Statement
  • Market Trends
  • Valley Info
  • Contact

REALTORS® Help Make Home Possible for Vets, Say VA Officials

5/15/2015

0 Comments

 
Media Contact: Jenny Werwa / 202-383-1193 / Email

WASHINGTON (May 15, 2015) — Officials from the U.S. Department of Veterans Affairs encouraged Realtors® to help debunk misconceptions regarding the VA Home Loan Guaranty Program yesterday at an agency briefing held during the REALTORS® Legislative Meetings & Trade Expo.

The VA home loan guaranty is a military benefit that helps service members, veterans and eligible surviving spouses become homeowners. Since the program was enacted in 1944, as part of the G.I. Bill, the VA has guaranteed more than 21 million home loans.

John Bell, assistant director of loan policy and valuation, thanked Realtors® for their role in the home buying process. “I have been so impressed with being able to work with the National Association of Realtors® and its members on improving our outreach to the community,” he said. “You are the front line of defense when it comes to helping veterans understand this program; without Realtors®, veterans will not come.”

Seth Task, 2015 chair of NAR’s Federal Financing and Housing Policy Committee, said Realtors® are working hard to educate other agents, lenders, and those who served the country about the advantages of the program and how veterans can use them. “Realtors® are proud to help all eligible homebuyers use their VA benefits to meet their housing needs,” he said.

Because VA loans are a benefit for veterans and their families, protections are built into the homebuying process to ensure that any property purchased will be safe, sound and sanitary for occupants. The program’s special conditions mean that closing requirements for VA loans are different from other conventional loans. Realtors® are concerned that the differences may deter sellers from accepting veterans’ offers, especially during bidding wars when a VA loan may seem inconvenient.

“We think every veteran should be able to use a VA loan, and it is frustrating for us when there are confusions or other roadblocks that prevent veterans from getting the home they want,” said Task.

Bell said further education needs to be done. “There are misconceptions in the marketplace about VA loans. People worry they are challenging to close or difficult to underwrite, and that the appraisal process drags on too long, yet the facts show that appraisal and closing times are on par with the rest of the industry,” he said.

Realtors® can also remind lenders to request an appraisal early in the process to make sure a VA certified appraiser is able to value the property in advance of the closing date. If agents feel that a shortage of certified appraisers is slowing down the process, they can call the local VA loan center and request a review of appraiser capacity.

NAR is committed to working with Congress and the VA to provide more flexibility to veteran borrowers when purchasing a home.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.

0 Comments



Leave a Reply.

    Author

    Santa Ynez Valley Association of REALTORS®.

    We are a trade association with 139 REALTORS® members and 30 Affiliate members. Our members service the towns of Santa Ynez, Solvang, Buellton, Ballard, Los Olivos, and Los Alamos in the Santa Ynez Valley of California. 

    Archives

    March 2018
    January 2018
    May 2017
    March 2017
    February 2017
    October 2016
    September 2016
    August 2015
    May 2015
    April 2015
    July 2014
    May 2014

    Categories

    All

    RSS Feed

Picture
Picture
Useful Links
Santa Ynez Valley
Useful Links

Find a REALTOR
Market Trends
SYVAOR Affiliates
SYVAOR Board


Mailing Address
650 Alamo Pintado Road, Suite 201
Solvang, CA  93463

Phone & Email
(805) 688-7744
[email protected] 

Home  | Realtor Resources  |  Privacy Policy  |  Terms of Use  | Contact
© 2024 -- Santa Ynez Valley Association of Realtors, All rights reserved.
The Santa Ynez Valley Association of Realtors®, in one with our organization's mission and vision, is committed to making our website accessible to everyone. At this time, we recognize that not all areas of our website may be sufficiently accessible to some of our visitors. We further recognize that some of our functionality and the associated content is complex, has contractual implications and, even with best efforts and intentions, may not be effective when used with screen readers or other devices. Given that our goal is to provide a website, content and functionality that is broadly accessible, we invite anyone requiring specific accommodations to contact us at (805) 688-7744 and ask to speak with the accessibility coordinator who will work with you to provide an effective accommodation.