Has this nightmare ever happened on one of your home sales?


Has this nightmare ever happened on one of your home sales?

This is a true story. One of our trusted Real Estate Agents called us. She asked if we could review a VA buyer on one of her listings where the VA Loan had been denied 16 days into the Purchase timeline (aka Escrow period in some states).

We obliged, of course. We like to assist Veterans whenever possible. We started with a short conversation with the VA Buyer. They told us that the Lender has just told them that they do not have enough VA Entitlement available for this home purchase. This was on day 15 of the purchase.

This was a huge red flag that either the Lender or Loan Officer (or both) was not familiar with VA Loans. We pulled the VA Certificate of Eligibility (aka VA COE) on the spot. Jaws hit the floor, and a chorus of groans ensued.  Not only was there insufficient VA entitlement available, the VA system showed that neither the Loan Officer or Lender had even pulled the COE until day 14. Day 14. That is a terrible disservice to everyone involved – buyer, seller, Agents, etc.

We pull the VA COE before we even pull credit reports. It's that important. This establishes the maximum zero down VA loan for the Veteran, or how much down payment will be required if they have a charge against VA Entitlement.

Please help us help our Veterans and Active Duty Service members by entrusting your Veteran Buyers to experience - The Brian Skaar Home Loan Team with VanDyk Mortgage. Let's help veterans together.