Page 5 - The Panozzo Team - VA Home Loan Guide

WHY THE VA LOAN IS A GREAT PRODUCT! (CONT.)

9. A Veteran’s Entitlement never expires. You can use it for the first time when you
are in your 80’s, for example: it also can be used multiple times, so just because

a Veteran used it once doesn’t mean they can’t use it again. A Veteran can also
have multiple VA loans at the same time.

10. VA Home loans typically have a lower interest rate than Conventional and FHA
because they are a less risky loan and rates are based on risk.

11. The VA home loan has no “flip Rule.,” meaning a Veteran can purchase a “flip”
property as soon as it hits the market.

LET’S COVER SOME COMMON MISCONCEPTIONS REGARDING
THE VA HOME LOAN BENEFIT.

MYTH #1: THE VA LOAN COSTS THE SELLER MORE MONEY WHICH PUTS THE BUYER AT A
DISADVANTAGE.

- The seller does not have to pay any seller concessions on behalf of the buyer, as
they are not required. The Veteran is able to pay all inspection fees on a VA loan.

MYTH #2: VA LOANS TAKE LONGER TO PROCESS AND CLOSE.

- The VA Home loan can close as quick as any other type of home loan. VA loans
nationally actually close quicker than Conventional or FHA.

MYTH #3: VA APPRAISALS ARE MORE STRINGENT.

- Not True! A VA appraisal actually permits a second bite at the apple. If an FHA/
Conventional appraisal comes back low, this is typically final. With a VA appraisal, if
the number is low, there are at least 2 separate processes available to dispute
the value.

MYTH #4: VA LOAN ELIGIBILITY EXPIRES OR CAN ONLY BE USED ONCE.

- Even though many Veterans have already used their loan benefits, it may be
possible for them to purchase homes again with VA financing using remaining or
restored VA entitlement. Once you’ve earned your benefit, it’s yours for life. It can
be used multiple times by qualifying Veterans.

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