Veterans jump in here...VA Loans???

[anlashokna]

Retired Military here....sold our last house. Getting the VA certificate back shortly. Any banks doing VA on a new home? Its his right as retired military to be able to purchase a home under this program. I know citizens didn't want anything to do with a VA loan. If we can't get a new home we'll look at preowned or go outside the villages to buy. But he will be doing a VA loan. I've read some stuff that makes me wonder if the villages is discriminating against veterans in this manner. Anyone have any input or share their experiences?

[CaptJohn]

I've read some stuff that makes me wonder if the villages is discriminating against veterans in this manner. Anyone have any input or share their experiences?

On new homes, more than likely it's that the VA requires more hoops to jump through and takes a lot more time, makes the seller pay more closing costs and the Villages is a streamlined, efficient organization that does things promptly, not anything against vets.
Buying a resale should not be a problem. 40 years of real estate experience talking.

[jnieman]

We recently refinanced our home loan with Quicken Loans and we did a VA loan. We did all of the paperwork over the internet and they sent a notary to our house to sign the final paperwork. It did require a VA home inspector, but she found no issues. Our house was built in 2008.

[Mickedamouse24]

We bought a pre-owned home in 2010 through ERA using a VA Loan. No problems!

[GaryW]

You can purchase a resale in The Villages using a VA Loan. You must use a VA approved Lender....
You can not purchase a new construction home in The Villages using a VA loan. It will not happen. The Villages does not accept VA Terms. ALso to purchase a home under a VA, the biggest thing is the Builder must be a VA Approved Builder. That is the bottom line..

[asianthree]

Preowned yes... New it not a chance

[wendyquat]

TV is not discriminating against veterans. A builder has to be VA approved and many (most) do not want to be approved because of the VA inspections required at different stages during construction, sometimes delaying the process and even leading to tear-outs and re- builds. Even though this is required to protect the veteran (and the VA that guarantees the loan) it is just too much red tape and added expense to a builder. Unless the laws have changed you can get a VA loan after new construction is at least a year old ( I guess VA thinks if the construction has made it that long the house is not going to fall down). There are some fees relating to a VA loan that are not allowed to be paid by the borrower so you might run into a pre-owned property with a seller not willing to pay these fees but most sellers will pay the extra fees to get a buyer!

[silvertoken]

TV is not discriminating against veterans. A builder has to be VA approved and many (most) do not want to be approved because of the VA inspections required at different stages during construction, sometimes delaying the process and even leading to tear-outs and re- builds. Even though this is required to protect the veteran (and the VA that guarantees the loan) it is just too much red tape and added expense to a builder. Unless the laws have changed you can get a VA loan after new construction is at least a year old ( I guess VA thinks if the construction has made it that long the house is not going to fall down). There are some fees relating to a VA loan that are not allowed to be paid by the borrower so you might run into a pre-owned property with a seller not willing to pay these fees but most sellers will pay the extra fees to get a buyer!

Also when buying a used home the Veterans do not allow the buyer to pay any fees what so ever for services rendered by the realtor.(Beware,this fee is inserted in the purchase and sale agreement to the buyer) This is the main reason why there are realtors who use the phrase, the seller does not want veterans. This is a hidden cost and is outlawed in some States. Try to use a realtor familiar with veterans if you can.
Realtors get a big surprise after closing because this fee doesnt get paid to them and they try to get it directly from the buyer.( Contact your nearest VA office if this is done if you want and the problem will be remedied quickly to your favor.) It is completely false that a seller doesnt want to sell to a veteran in most cases. I had no problem getting a veteran loan from Bank Of America. Many realtors for some reason frown on you using your bank instead of theirs. LOL, this will get some of the realtors angry at me. Also closing cost are negotiable between the seller and buyer if the seller seems to not want veterans for this reason. In my case the house was cheap enough so I paid full closing cost.

The house I purchased didnt want veterans also, and I got it anyways with a veteran loan.

[anlashokna]

TV is not discriminating against veterans. A builder has to be VA approved and many (most) do not want to be approved because of the VA inspections required at different stages during construction, sometimes delaying the process and even leading to tear-outs and re- builds. Even though this is required to protect the veteran (and the VA that guarantees the loan) it is just too much red tape and added expense to a builder. Unless the laws have changed you can get a VA loan after new construction is at least a year old ( I guess VA thinks if the construction has made it that long the house is not going to fall down). There are some fees relating to a VA loan that are not allowed to be paid by the borrower so you might run into a pre-owned property with a seller not willing to pay these fees but most sellers will pay the extra fees to get a buyer!

That actually wouldn't be smart...put down a large amount of money on a conventional loan just to turn around and shell out more money on a VA refinance:( Now you bring up another question though....why would the builders not want to be VA approved. That makes me wonder about the construction of these homes. Why would a builder who is building a structure correctly be concerned with that? Just devil advocates here. Most of the homes seem overpriced down here and of course when they deeply discount a new home it tells a lot. So I keep thinking paying the fees for a VA loan on a house priced normal would make them more money than dropping a house price to sell it.

[anlashokna]

Also when buying a used home the Veterans do not allow the buyer to pay any fees what so ever for services rendered by the realtor.(Beware,this fee is inserted in the purchase and sale agreement to the buyer) This is the main reason why there are realtors who use the phrase, the seller does not want veterans. This is a hidden cost and is outlawed in some States. Try to use a realtor familiar with veterans if you can.
Realtors get a big surprise after closing because this fee doesnt get paid to them and they try to get it directly from the buyer.( Contact your nearest VA office if this is done if you want and the problem will be remedied quickly to your favor.) It is completely false that a seller doesnt want to sell to a veteran in most cases. I had no problem getting a veteran loan from Bank Of America. Many realtors for some reason frown on you using your bank instead of theirs. LOL, this will get some of the realtors angry at me. Also closing cost are negotiable between the seller and buyer if the seller seems to not want veterans for this reason. In my case the house was cheap enough so I paid full closing cost.

The house I purchased didnt want veterans also, and I got it anyways with a veteran loan.


Actually the closing costs isn't a huge thing with the parents....they've owned and sold 4 homes on VA loans. But its the initial money down. VA they don't have to put anything down unless they want to. Citizens Bank which they went to our initial trip down kept wanting more and more and more $$. WHich immediately flagged they would not deal with them. USAA/ Wells Fargo or other banks that deal with VA loans is where they would go as they've been doing business with them for years. And they have "Great" credit. :::sigh:::

[mulligan]

It's not the VA approval of the builder, but rather the inspection process. The government inspectors have no obligation to meet the builder's schedule, and can really slow down the process. When the builder is working on a 60 day schedule, and doing 10 closings a day, there is not ANY wiggle room for slow inspectors. I don't blame the builder at all. This is a well oiled machine.

[GaryW]

Again bottom line is: No VA closings on new homes in The Villages. You can on a resale.
Villages is not a Authorized VA builder.. Timelines and inspections are the least of the matters when it comes to a VA purchase. Closing closts are the main issue. The Villages homes meet or exceed all VA guidlines. I have checked into this matter on my own behalf, being a VET, and purchasing in The Villages.
Just beating up dead grass here. The VA process it self requires more paperwork and that can slowdown closing times. The Villages does more like 20 or morse closings avg. No need to complicate the process.


When something good is working,, no need to change it. If You need to purchase new via the VA,, try Parkwood, they will take it