Episode Summary:
Welcome to The REAL in Real Estate Podcast, your go-to show for real estate success. In Episode 85, the host sits down with Eric Bernstein, president and co-founder of LendFriend Mortgage, to discuss the ins and outs of Veteran Administration (VA) loans.
This episode focuses on educating real estate professionals and veterans alike about the gross underutilization of VA loans, debunking outdated stigmas, and highlighting the unmatched benefits of this mortgage product. Whether you are a realtor trying to get your veteran clients' offers accepted or a veteran looking to maximize your hard-earned benefits, this episode is a must-listen!
In this episode, you will learn:
✔️ VA Appraisals Are Not Deal-Killers: Despite common misconceptions from listing agents, VA appraisers are not overly strict and do not arbitrarily miss home valuations; they primarily look for major safety hazards that could impact the veteran.
✔️ Unmatched Financial Benefits: VA loans are arguably the best mortgage product on the market, offering up to 100% financing (0% down), no private mortgage insurance (PMI), and interest rates that are typically half a point to 0.75 points lower than conventional loans.
✔️ There Are No Loan Limits: Veterans are not capped by standard conforming loan limits, meaning they don't have to switch to a strenuous jumbo loan for expensive properties; VA loans can be used for multi-million dollar homes with zero down.
✔️ Rules on Multiple Loans and Property Types: You can actually have multiple VA loans at the same time depending on your service record and bonus eligibility. However, VA loans are strictly for primary residences and cannot be used to purchase a second home or an investment property.
Connect with Eric Bernstein:
- Company: LendFriend Mortgage
- Website: lendfriendmtg.com
- Resources: Visit his website's robust learning center, which features a blog with over 200 posts, including around 30 articles dedicated specifically to the nuances of VA loans.
Listen to the full episode now:
https://the-real-in-real-estate.captivate.fm/listen
