top of page

Home Sellers: There Is an Extra Way To Welcome Home Our Veterans

  • Writer: Andreas Kramer
    Andreas Kramer
  • Jul 29, 2021
  • 2 min read

Some veterans are finding it difficult to obtain a home in today’s market. According to the National Association of Realtors (NAR):

“Conventional conforming mortgages (mortgages that conform to guidelines set by Fannie Mae and Freddie Mac), accounted for 74% of mortgages obtained by homebuyers in May 2021, an increase from about 65% during 2018 through 2019…The share of VA-guaranteed loans has also decreased to 7% in May 2021 from about 10% in past years.”

Recent data in the latest Origination Insight Report from Ellie Mae sheds light on the continuation of this trend. Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report:

The drop in VA loan usage can be attributed to the difficulties veterans continue to face when buying a home. The NAR article elaborates:

“It is extremely difficult for FHA/VA buyers to get accepted in a multiple offer situation. They are on the bottom of the hierarchy.”

One contributing factor is that buyers with VA loans can’t waive certain contingencies. However, just because a certain contingency must be present for a particular buyer doesn’t mean that buyer’s offer shouldn’t be considered.

What Should Sellers Do to Help Create a Level Playing Field?

As a seller, it’s important to consider every offer in front of you regardless of loan type. If you’re selecting an offer because some contingencies are waived, keep in mind that it doesn’t always mean the offer is what’s best for you.

Buyers who can’t waive specific contingencies may adjust other terms in their offer to make it more appealing to sellers. This may depend on several factors, including their loan type and location, but a motivated buyer and their agent will do everything they can to present an offer that’s as appealing to you as possible.

Ultimately, you should make sure you take time to really understand the terms of their offer and see the big picture. Working with a driven buyer who’s motivated to purchase your house may provide a better opportunity for you to reach your overall best option and what’s most important to you.


Bottom Line


If you’re ready to sell, let’s connect. Together, we can make sure you understand the terms of all offers so you can give each one fair consideration, including those buyers using a VA loan. Our veterans sacrifice so much for our country. They’ve earned our gratitude and should have the same opportunity to obtain the home of their dreams.


Comments


Contact

PLEASE CALL OR EMAIL ME:

united-kingdom-flag-large.png
germany-flag-large.png
spain-flag-large.png

Email: andy@kramer.net

Tel: (310) 402-2940

  • White Facebook Icon
  • White Instagram Icon
  • White LinkedIn Icon
  • White Twitter Icon
  • White YouTube Icon

LOCATIONS:

12001 Ventura Pl, Suite 100

Studio City, CA 91604

Tel: (310) 402-2940

9454 Wilshire Blvd, Suite 400

Beverly Hills, CA 90212

Tel: (310) 402-2940

23914 Summerhill Ln

Valencia, CA 91354

Tel: (661) 877-0323

ALTERNATIVELY YOU CAN FILL IN THE FOLLOWING CONTACT FORM:

Thanks for submitting!

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© 2020 Andreas Kramer  |  Created by LA Web Design

bottom of page