VA Loan questions / AZVHV | Arizona Veterans Helping Veterans with their Real Estate Needs

AZVHV | Arizona Veterans Helping Veterans with their Real Estate Needs

Had the pleasure of sitting down with AAR Magazine this month to discuss VA Loans:

Bill Salvatore with AZVHV / Arizona Veterans Helping Veterans / www.yourValleyProperty.com

 

1.       What are some common misconceptions that REALTORS® have about working with clients who qualify for VA loans? 

That they are difficult loans to do, they really are not if you know what you are doing. Also sellers are mis-lead by allot of agents into not accepting VA contracts because of potential issues with VA appraisers and fees the veteran cannot pay (not allowed to pay).

                                  - VA appraisals have a reputation of taking longer but if you’re working with a

Knowledgeable lender they’ll be right on top of it, and order the appraisal a little earlier. The property must also appraise at full value according to the contract due to 100% financing.

2.       What are some of the benefits to REALTORS® who work with Veteran clients?    

Just knowing they need no down payment, often a major stumbling block to anyone buying a home. In my experience, Veterans seem to have a better understanding of and more patience with the process. (maybe a residual of military life)    

3.       How do you go about finding out if a client qualifies for a VA loan? What steps do you follow?

 

The lender will pull their credit to make sure they have min. 620 credit score. The veteran will need to produce their DD214 then they or the lender can go to the VA website and order a Certificate of Eligibility.    

4.       What types of resources help you when working with Veterans?   

Definitely the VA website. Everything we need to know is there.    

5.       Do you find that clients who utilize VA loans have differing needs than those of a traditional client? Why or why not?     

Not necessarily different needs, I guess just different perks. 100% financing is a huge benefit, plus with seller contributions towards closing cost they can buy a home with little/no money out of pocket. In a “seller’s market” this is a bit more of a challenge…   

6.       What’s the biggest challenge a REALTOR® may encounter when working with a client who is using a VA Loan?   

 

The biggest challenge to a Realtor might be knowing how to write the contract. For instance, 

 you must have a clear termite report and the lender will require proof, a copy of the report.

       What is the biggest reward you get out of working with Veterans?  

There are both business and personal rewards.

a.       Knowing that you helped a veteran get a home especially when they didn’t believe they would ever be able to.  It is a powerful feeling. 

 

 

AZVHV | Arizona Veterans Helping Veterans with their Real Estate Needs

view site here:  AZVHV | Arizona Veterans Helping Veterans with their Real Estate Needs

Being a Veteran myself (former Army MP) I know that returning to the "real world" after enlistment can be a challenge. I decided that I wanted to help in some small way. I don't think I could ever have predicted how involved I'd be a year later.

I had been researching home buying assistance for veterans and was disappointed to discover that there weren't many organizations operating in the valley, and the ones I did find were not particularly active or helpful. Not knowing where it would lead or exactly what I intended, I founded AZVHV (Arizona Veterans Helping Veterans) last year. At the time I was hoping for maybe one participant in each major category; lending, title, home inspection etc., who would offer a discount to Veterans buying or selling a home. In the past few months things have really started to take off. We're getting a site up and running, and business people have actually started to call me asking how they can get involved. At the moment membership is free because I have not incurred any costs other than my time and that of my marketing person. All I ask is that they offer something of value to the veteran. My personal contribution is 25% of my commission as a credit toward the Veteran's closing costs.

Shortly after beginning to market AZVHV I was contacted by a representative of VAREP (Veterans Association of Real Estate Professionals) who had seen my car on the highway, noticing my Veterans license plates and Realty Executives door magnets. The founder of VAREP, located in California, was working on taking his non-profit nationwide and was in the beginning stages of introducing his program to the Phoenix area. After several phone conversations and a meeting or two I determined that my involvement in VAREP would work to both our benefits. I am now President of the Phoenix Chapter and we're busy planning several events in the upcoming year. Our focus in 2014 will be on educating both Realtors and Veterans on available tools, and procedures of home buying programs including VA financing.

About the same time as VAREP approached me, another organization got in touch through social media. Heroes Home Advantage, based in upstate New York, is also trying to build a national presence. They put me in touch with an agent in Michigan who has had some success with the program and she explained to me how it was helping her business. Heroes Home Advantage hadn't yet broken into the Phoenix market, and recognizing another opportunity build on a theme I quickly offered to be the initial outlet here in the valley. This too is a program of referral, assistance and discounts but is open to a much wider group. The Heroes Home Advantage program does assist Veterans but also includes Firefighters, Police Officers, EMTs and First Responders, Nurses, and Teachers. Any individual that might be considered a public servant or a hero.

I thoroughly enjoy doing anything I can to help Veterans but it doesn't hurt that it's also helping my real estate business. I'm getting calls not only from people who have been referred to me, but from total strangers who have seen my blog or picked up a brochure. This business is all about people, not product, so I've chosen to direct the majority of my marketing toward helping people. After the financial trampling we've taken in the past few years I think we all realize how important it is to have folks around us that we can rely on. I'm trying to give a little support back to the people that we've all had the privilege of relying on. 

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 I've attached the logo for my organization AZVHV, and below are links to the sites that we've started (and are continually working on). If there's anything else I can do for you or any additional information you need just let me know.

AZVHV - www.azvhv.wordpress.com

Heroes Home Advantage - www.cashbackforheroes.wordpress.com

 

new on the market, Gilbert home for rent / www.yourValleyProperty.com

new on the market, Gilbert home for rent / www.yourValleyProperty.com

view details here:  Homes Houses Rental in Gilbert AZ : 5022398 - PropertyNut.com

new on the market, Gilbert home for rent / www.yourValleyProperty.com

new on the market, Gilbert home for rent / www.yourValleyProperty.com

Our Arizona Neighborhoods: VAREP, We Have Liftoff !! | AZVHV

Our Arizona Neighborhoods: VAREP, We Have Liftoff !! | AZVHV: VAREP, We Have Liftoff !! | AZVHV Color Guard at the Induction of Board Members, Phoenix Chapter of VAREP   After months of preparation w...

Cash back when you buy or sell a home in Arizona / http://cashbackforheroes.wordpress.com/

www.yourValleyProperty.com

602.999.0952

Cash back when you buy or sell a home in Arizona / http://cashbackforheroes.wordpress.com/

www.yourValleyProperty.com

602.999.0952

Bill Salvatore / Arizona Realtor | AZVHV working with and for Veterans

Bill Salvatore / Arizona Realtor | AZVHV

Bill Salvatore / Arizona Realtor | AZVHV working with and for Veterans

The First Day of the Rest of the Season / www.yourValleyproperty.com

Blog-Ography – AZ Day-by-Day | AZVHV | Arizona Veterans Helping Veterans with their Real Estate Needs


The First Day of the Rest of the Season

Gotta love the first day of hiking season. We did our “default” trail today. It’s the one that we occasionally use to measure our hiking progress, and we did it in record time! (but that’s another whole blog) In the Fall this isn’t the most attractive trail. It’s very much Arizona desert… scrub and cactus. This time of year there isn’t much in bloom and very little green. Still, it’s beautiful in its own half-dead, tumbleweed Old West kinda way. We also like this trail for its openness. This is the time of year that you just keep your fingers crossed that the critters are back in hibernation. (An open trail makes it easier to see them, and gives you a choice of escape routes) I’m sure that something was trying to get away from those hawks we saw but it wasn’t us and we saw nothing else. No need for escape today J

 

While you’re out there you really don’t think about much else, or much of anything at all in fact. My phone worked but I’m just finding out that the screen isn’t so readable in direct sunlight. Wow, relaxing AND peaceful, real estate agents don’t get too much of that. Looking forward to the next 6 or 7 months of perfect weather and hopefully many more beautiful treks through the Arizona desert.

The First Day of the Rest of the Season  /  www.yourValleyproperty.com

Realty Executives East Valley / Veterans Helping Veterans with Real Estate needs! 602.999.0952

Realty Executives East Valley / Veterans Helping Veterans with Real Estate needs! 602.999.0952: Overview | LinkedIn

Realty Executives East Valley / Veterans Helping Veterans with Real Estate needs! 602.999.0952

Home for rent in Arizona / www.yourValleyproperty.com / 602-999-0952

                            Home for rent in Arizona / www.yourValleyproperty.com / 602-999-0952


view photos and details here:  Homes Houses Rental in Phoenix AZ : 5015219 - PropertyNut.com

Home for rent in Arizona / www.yourValleyproperty.com / 602-999-0952

Home for rent in Arizona / www.yourValleyproperty.com / 602-999-0952

Short Sales in Arizona

Great to hear- one of my short sales, the SS bank is giving us a two week extension to handle the back load with IRS files. Thank you Citi Bank for being a true class act.

Bill Salvatore       Realtor / Veteran

2013-2014 President Phx V.A.R.E.P.

Realty Executives East Valley

Direct: 602-999-0952   Fax: 888-329-6321

YourValleyProperty.com         What’s my home worth?

 East Valley Heroes Home Advantage    What is Heroes Home Adv?       Veterans helping Veterans

……. My passion is serving Teachers, Nurses, Veterans, EMT’s, Police and Fire Personnel with their housing needs. My way to give back using my knowledge of being a Realtor. Ask about my "Hero Rewards Program" 25% of my commission earned on each transaction is credited back to the client to use towards their closing costs. My way of saying Thank You for your service!