WEBVTT 00:00.009 --> 00:02.089 VA home loans with me . I have Nick 00:02.099 --> 00:04.266 parent , a mortgage broker here in the 00:04.266 --> 00:06.377 state of Vermont to get designated as 00:06.377 --> 00:08.543 an MP , which is a military relocation 00:08.543 --> 00:10.766 professional . Just having those people 00:10.766 --> 00:12.988 in place that have done it before helps 00:12.988 --> 00:15.043 guide them through the buying a home 00:15.043 --> 00:17.377 better . Any given , you know , payment , 00:17.377 --> 00:19.377 it might save them a couple of $100 00:19.377 --> 00:19.350 more by utilizing that product . 00:26.610 --> 00:28.610 Hi , ladies and gentlemen . Welcome 00:28.610 --> 00:30.888 back to kitchen spins and combat boots . 00:30.888 --> 00:30.829 This episode we're gonna be talking 00:30.840 --> 00:32.909 about va home loans with me . I have 00:32.919 --> 00:34.975 Nick parent who is a mortgage broker 00:34.975 --> 00:37.141 here in the state of Vermont . Welcome 00:37.141 --> 00:39.252 to the podcast . Hey Dan . Thanks for 00:39.252 --> 00:41.475 having me . Glad to be here . Thank you 00:41.475 --> 00:40.990 for coming . I'm glad you found the 00:41.000 --> 00:43.000 place . It's a little tricky around 00:43.000 --> 00:45.056 here . A couple of different ways to 00:45.056 --> 00:46.833 get here , but I appreciate you 00:46.833 --> 00:49.056 welcoming me at the door . So all roads 00:49.056 --> 00:51.056 lead to family programs . So , um , 00:51.056 --> 00:53.222 we're doing this episode about kitchen 00:53.222 --> 00:55.389 spoons and combat boots . Uh We have a 00:55.389 --> 00:55.250 lot of recordings going on with 00:55.259 --> 00:57.315 different people . We're just really 00:57.315 --> 00:59.537 sharing information and what we want to 00:59.537 --> 00:59.409 do is we just wanna make sure that we 00:59.419 --> 01:01.389 can push out this product to our 01:01.400 --> 01:03.622 service members and families and we can 01:03.622 --> 01:05.789 really make it , make sense for them . 01:05.789 --> 01:08.250 So , uh , what experience do you have 01:08.260 --> 01:10.260 pushing out va home loans , working 01:10.260 --> 01:12.427 with va home loans ? Um , you had , we 01:12.430 --> 01:14.430 had spoken before we hit the record 01:14.430 --> 01:16.597 button about , um , you have a special 01:16.597 --> 01:18.930 qualification . Um , tell me about that . 01:19.260 --> 01:21.316 I don't have a special qualification 01:21.316 --> 01:23.371 but , uh , are you talking about the 01:23.371 --> 01:25.699 real MP ? Uh So a lot of real estate 01:25.709 --> 01:27.765 agents or some that I work with , uh 01:27.765 --> 01:29.765 they took it upon themselves to get 01:29.765 --> 01:31.860 designated as an MRP , which is a 01:31.870 --> 01:34.839 military relocation professional . Um 01:34.849 --> 01:36.849 So what that does is just make them 01:36.849 --> 01:38.905 kind of an expert on how to navigate 01:38.905 --> 01:41.127 their clients and their veteran clients 01:41.127 --> 01:43.819 uh through the VA program . Um And 01:43.830 --> 01:45.941 knowing the product , I think just uh 01:45.941 --> 01:47.941 sets up the client and when they're 01:47.941 --> 01:49.941 negotiating kind of how to sell the 01:49.941 --> 01:52.419 program to make it a positive thing 01:52.430 --> 01:54.652 because that's really what it is at the 01:54.652 --> 01:56.763 end of the day . So , do you think it 01:56.763 --> 01:58.763 would be in a service member's best 01:58.763 --> 02:00.819 interest to make sure they check and 02:00.819 --> 02:02.541 see if the real realtor is MRP 02:02.541 --> 02:04.597 certified ? Is that what it would be 02:04.597 --> 02:04.540 called ? Yes . You know , that would be 02:04.550 --> 02:06.772 a benefit . I'm not sure how many there 02:06.772 --> 02:08.606 are in the state of the state of 02:08.606 --> 02:10.772 Vermont . I think there's maybe a half 02:10.772 --> 02:12.772 a dozen to a dozen , uh , with that 02:12.772 --> 02:12.220 being said , there's a lot of good 02:12.229 --> 02:14.062 agents are in the state that can 02:14.062 --> 02:16.285 definitely help out a veteran as well . 02:16.285 --> 02:18.173 But I do think it's beneficial if 02:18.173 --> 02:20.340 they've had some experience , uh , you 02:20.340 --> 02:22.507 know , helping veterans before or very 02:22.507 --> 02:24.562 often I'm being called on by my real 02:24.562 --> 02:26.785 estate partners to kind of get educated 02:26.785 --> 02:29.062 about the program , which is good . So , 02:29.062 --> 02:31.229 just having those people in place that 02:31.229 --> 02:33.229 I've done it for or no , uh , helps 02:33.229 --> 02:35.562 guide them through the , the , you know , 02:35.562 --> 02:37.673 the buying a home better . Yeah . And 02:37.673 --> 02:39.840 what are things that you want to share 02:39.840 --> 02:42.100 today about the va home loan process 02:42.110 --> 02:44.221 that you think is gonna be beneficial 02:44.221 --> 02:46.388 for people listening . Yeah , I mean , 02:46.388 --> 02:48.388 I wouldn't mind sharing a few myths 02:48.388 --> 02:48.179 that are out there about the , the VA 02:48.190 --> 02:50.539 program . Um , you know , the VA 02:50.550 --> 02:52.772 program is a great benefit to our , our 02:52.772 --> 02:54.883 military folks and veterans . Uh , it 02:54.883 --> 02:57.106 often for many of them puts them in the 02:57.106 --> 02:59.217 best financial , uh , position . Uh , 02:59.217 --> 03:01.439 because often the rate usually is about 03:01.439 --> 03:03.106 a half a point lower than the 03:03.106 --> 03:05.383 conventional mortgage that's out there . 03:05.383 --> 03:07.272 Uh , so on any given , you know , 03:07.272 --> 03:09.383 payment , it might save them a couple 03:09.383 --> 03:11.494 of $100 more by you on that product . 03:11.494 --> 03:13.494 Um , I think on the negative side , 03:13.494 --> 03:15.606 people that don't know the VA program 03:15.606 --> 03:17.550 or maybe on the bigger picture , I 03:17.550 --> 03:19.717 think unfortunately VA gets put in the 03:19.717 --> 03:21.606 same bag as an FH a loan or other 03:21.606 --> 03:24.649 government products . Uh and VA is not 03:24.660 --> 03:26.716 like FH A at all , it's truly a good 03:26.716 --> 03:29.240 benefit to the veteran to use that . Um 03:29.250 --> 03:31.417 So the , the main thing is it's a good 03:31.417 --> 03:33.639 product . I don't think it's any harder 03:33.639 --> 03:36.369 to get a VA loan uh if you know the 03:36.380 --> 03:38.869 nuances of VA and how to navigate your 03:38.880 --> 03:41.470 client through that . Um So depending 03:41.479 --> 03:43.201 on the property , there's some 03:43.201 --> 03:45.201 uniqueness of , of the home that we 03:45.201 --> 03:47.423 have to look at . Um And then as well , 03:47.429 --> 03:49.207 we talked about if it's a condo 03:49.207 --> 03:51.262 association , there's just different 03:51.262 --> 03:53.485 guidelines that va requires and knowing 03:53.485 --> 03:55.651 those rules is gonna , you know , help 03:55.651 --> 03:57.873 that client be successful in closing on 03:57.873 --> 04:01.490 that house . I know that with military 04:01.500 --> 04:03.667 experience and you wanting to use that 04:03.667 --> 04:05.889 loan , it sounds like being making sure 04:05.889 --> 04:08.111 that you're talking to an MRP is a good 04:08.111 --> 04:10.278 start . And then , um so like what are 04:10.278 --> 04:12.500 people who qualify for a va home loan ? 04:12.500 --> 04:15.490 Um How are they eligible or ? So 04:15.759 --> 04:17.926 there's different levels . So the main 04:17.926 --> 04:20.092 thing that a veteran can do or someone 04:20.092 --> 04:22.315 who thinks they're eligible often where 04:22.315 --> 04:24.537 they're going to start with is get a CO 04:24.537 --> 04:26.870 E which is a certificate of eligibility . 04:26.870 --> 04:28.981 Very often . Any bank or loan officer 04:28.981 --> 04:31.037 should be able to pull that within a 04:31.037 --> 04:33.370 few minutes with some basic information . 04:33.370 --> 04:35.370 Then if not , we have to do further 04:35.370 --> 04:37.481 analysis and we might need the DD 214 04:37.481 --> 04:39.370 form . But knowing that from that 04:39.370 --> 04:41.592 certificate of eligibility that's going 04:41.592 --> 04:43.481 to tell us how much they might be 04:43.481 --> 04:45.537 qualified as far as eligibility . Um 04:45.537 --> 04:47.769 and also within there , uh it , it will 04:47.779 --> 04:50.001 also show if they have any disability , 04:50.001 --> 04:52.790 uh fee or disability percentage uh with 04:52.799 --> 04:55.630 the va uh and that's important because 04:55.809 --> 04:57.920 the most common thing to use for a VA 04:57.920 --> 05:00.600 program , you could do 0% down . Um and 05:00.609 --> 05:02.665 it also helps you avoid the mortgage 05:02.665 --> 05:04.720 insurance , which is an extra fee in 05:04.720 --> 05:06.831 that monthly payment . So with the va 05:06.831 --> 05:08.776 loan , they don't have any PM I or 05:08.776 --> 05:10.887 mortgage insurance , but they do have 05:10.887 --> 05:13.109 what's called a reservation fee , which 05:13.109 --> 05:15.276 is basically V A's way of insuring the 05:15.276 --> 05:17.331 loan behind the scenes . And if they 05:17.331 --> 05:19.442 have , I believe any , I think 10% or 05:19.442 --> 05:21.498 more disability , they're allowed to 05:21.498 --> 05:23.665 waive that additional va fee that goes 05:23.665 --> 05:25.720 into the loan amount . Interesting , 05:25.720 --> 05:27.498 interesting and all you need is 05:27.498 --> 05:29.665 certificate of eligibility or DD 214 , 05:29.665 --> 05:31.776 uh , to find out if you're eligible . 05:31.776 --> 05:34.010 Yes . Uh , one of the myths here and 05:34.019 --> 05:36.241 I've had this before with veterans , is 05:36.241 --> 05:38.019 that just because they have the 05:38.019 --> 05:40.241 certificate of eligibility or they know 05:40.241 --> 05:42.352 they're eligible for the program ? It 05:42.352 --> 05:44.463 doesn't necessarily mean that they're 05:44.463 --> 05:46.630 eligible to get the mortgage . Um , so 05:46.630 --> 05:48.797 they still have to be underwritten and 05:48.797 --> 05:50.686 approved and qualified to get the 05:50.686 --> 05:52.797 mortgage . Uh , but definitely the co 05:52.797 --> 05:52.609 the certificate of eligibility is going 05:52.619 --> 05:54.563 to tell us , you know , what their 05:54.563 --> 05:56.286 maximum that they could borrow 05:56.286 --> 05:58.508 potentially . Um , and then again , see 05:58.508 --> 06:00.730 if they're eligible for the va loan and 06:00.730 --> 06:00.480 they still have to have a good credit 06:00.489 --> 06:02.649 score , uh , good credit . Uh , you 06:02.660 --> 06:04.827 know , I don't know in the va handbook 06:04.827 --> 06:07.070 if there is any minimum required credit 06:07.079 --> 06:09.350 score . Um , but I do know most banks 06:09.359 --> 06:11.526 out there usually require either a 580 06:11.526 --> 06:14.200 or 620 credit score . Yeah . Yeah , I 06:14.209 --> 06:16.320 know the va home loan has been really 06:16.320 --> 06:18.431 like enticing for most because that , 06:18.431 --> 06:20.803 that is your down . And then , I mean , 06:20.812 --> 06:22.923 shoot , you can almost work any , any 06:22.923 --> 06:25.562 sort of deal , uh you know , covering 06:25.572 --> 06:27.794 closing costs and stuff like that . The 06:27.794 --> 06:29.572 VA s will work with you to wrap 06:29.572 --> 06:31.739 anything into your va home loan . I've 06:31.739 --> 06:33.905 used , I've used it a few times . It's 06:33.905 --> 06:36.016 a good product . Uh You know , that's 06:36.016 --> 06:35.983 actually one of my myths too . Uh not 06:35.993 --> 06:38.423 to interrupt , but uh the closing cost 06:38.433 --> 06:40.544 can get rolled in , you can negotiate 06:40.544 --> 06:42.655 it from the center . And then there's 06:42.655 --> 06:44.544 another myth that I've heard from 06:44.544 --> 06:46.711 sellers that the seller has to pay the 06:46.711 --> 06:48.711 closing cost of the veteran , which 06:48.711 --> 06:51.485 isn't true . So that's an often one . 06:51.496 --> 06:53.718 Now we're not going to take that , that 06:53.718 --> 06:55.774 loan option because we don't want to 06:55.774 --> 06:57.996 cover their closing cost . And like you 06:57.996 --> 06:57.566 said , there's different ways either 06:57.575 --> 06:59.575 the veteran can pay it out of their 06:59.575 --> 07:01.797 pocket or you can negotiate it into the 07:01.797 --> 07:03.964 purchase price as well . Interesting , 07:03.964 --> 07:05.908 interesting . And I wonder if that 07:05.908 --> 07:07.908 deters people from accepting offers 07:07.908 --> 07:10.019 from somebody who's put an offer on a 07:10.019 --> 07:12.131 house with a va home loan because you 07:12.131 --> 07:14.353 can see that in the offer you can . And 07:14.353 --> 07:16.575 the other thing they look at , which is 07:16.575 --> 07:16.230 interesting from my point of view , as 07:16.239 --> 07:18.940 the loan officer very often , they'll 07:18.950 --> 07:21.283 look at what's called the loan to value , 07:21.283 --> 07:23.394 which is their down payment . And one 07:23.394 --> 07:25.450 of the biggest benefits I just did a 07:25.450 --> 07:28.480 veteran's loan at 1.5 million 100% 0% 07:28.489 --> 07:31.070 down . So 100% financing which is 07:31.079 --> 07:34.359 pretty special . Um But the down 07:34.369 --> 07:36.769 payment of a client sometimes doesn't 07:36.779 --> 07:39.170 dictate the caliber of the , the client . 07:39.209 --> 07:42.290 So sometimes someone is doing 50% down . 07:42.299 --> 07:44.243 That might be the only way they're 07:44.243 --> 07:46.355 qualified and to the seller , they're 07:46.355 --> 07:48.355 taking that as a strong bar because 07:48.355 --> 07:50.521 they're doing so much money down where 07:50.521 --> 07:52.743 behind the scenes , I might be sweating 07:52.743 --> 07:55.021 to try to get their mortgage done . Um , 07:55.021 --> 07:57.243 a lot of times , a lot of veterans that 07:57.243 --> 07:59.410 I work , usually they , they know what 07:59.410 --> 07:58.820 they're doing . They're disciplined , 07:58.829 --> 08:00.996 they get you their documents quickly , 08:00.996 --> 08:03.051 they're well qualified . And so just 08:03.051 --> 08:05.273 because they're doing no money down has 08:05.273 --> 08:07.496 no relevance on if they're qualified or 08:07.496 --> 08:09.718 not , they're just using their benefits 08:09.718 --> 08:11.885 that they've earned the right to use . 08:12.899 --> 08:15.609 Yeah , it goes fast . 08:40.250 --> 08:42.361 Uh Another myth out there is that you 08:42.361 --> 08:44.539 can only use a va loan once . So you 08:44.549 --> 08:46.909 said you've got a few different loans . 08:46.960 --> 08:49.390 Um , I've used it , I've used the VA 08:49.400 --> 08:51.409 home loan , but I've never had more 08:51.419 --> 08:53.530 than one going at a time . That was , 08:53.530 --> 08:55.752 the deal is like , yeah , I had to make 08:55.752 --> 08:57.697 sure that it was closed completely 08:57.697 --> 08:59.919 before I could open up a new one . So , 08:59.919 --> 09:01.808 yeah , so there are ways I've had 09:01.808 --> 09:01.590 veterans where they've actually had two 09:01.599 --> 09:03.321 va loans . And again , there's 09:03.321 --> 09:05.266 different guidelines within the VA 09:05.266 --> 09:07.432 guideline , uh , the booklet , the hud 09:07.432 --> 09:09.488 uh , booklet , we call it , uh , but 09:09.488 --> 09:11.266 there are ways that you can get 09:11.266 --> 09:13.266 multiple va loans depending on your 09:13.266 --> 09:15.377 entitlement . So again , it goes back 09:15.377 --> 09:17.599 to that certificate of eligibility will 09:17.599 --> 09:19.821 tell you how much you can do . Uh , and 09:19.821 --> 09:19.299 then the common one is usually when 09:19.309 --> 09:21.420 someone sells a home , when they sell 09:21.420 --> 09:23.198 that they get their entitlement 09:23.198 --> 09:25.420 percentage back and then you're able to 09:25.420 --> 09:27.531 keep using your VA loan again , which 09:27.531 --> 09:29.753 is again , another big benefit . Yeah , 09:29.753 --> 09:31.753 that was the big case was selling , 09:31.753 --> 09:33.920 purchase new home before you can , you 09:33.920 --> 09:36.087 know , do your va home loan in the new 09:36.087 --> 09:38.142 one . The current one that you're in 09:38.142 --> 09:37.719 had to sell and you had to close out 09:37.729 --> 09:39.840 completely . Ok . That one's closed . 09:39.840 --> 09:41.896 Now , we can go into opening the new 09:41.896 --> 09:43.896 one . So I think they scheduled the 09:43.896 --> 09:46.062 same day . I was gonna say it's pretty 09:46.062 --> 09:48.285 seamless . So usually if you're selling 09:48.285 --> 09:48.080 in the morning , va will give us a 09:48.090 --> 09:50.146 percentage back quickly and then you 09:50.146 --> 09:52.368 can close the next day . We just , or , 09:52.368 --> 09:54.590 or that same day , we just have to show 09:54.590 --> 09:56.701 that the first one is closed prior to 09:56.701 --> 09:58.701 purchasing the second one . In that 09:58.701 --> 10:00.923 case , how many people come to you that 10:00.923 --> 10:02.979 are veterans ? Would you say use the 10:02.979 --> 10:05.146 home loan ? Would you say like 100% of 10:05.146 --> 10:07.201 people that you see who are veterans 10:07.201 --> 10:09.830 are always using that va home loan ? Um 10:10.039 --> 10:12.206 I would say when , when I'm talking to 10:12.206 --> 10:14.372 a client , we're usually going through 10:14.372 --> 10:16.539 different programs that may make sense 10:16.539 --> 10:16.349 for them when they say they're a 10:16.359 --> 10:18.581 veteran or have the honor of using this 10:18.581 --> 10:20.581 program nine times out of 10 . It's 10:20.581 --> 10:22.637 usually the better program for the , 10:22.637 --> 10:24.859 the consumer for the veteran . Uh , and 10:24.859 --> 10:26.859 again , it goes back to usually the 10:26.859 --> 10:29.026 rates better and their terms are gonna 10:29.026 --> 10:28.969 be slightly better . Uh , but there's 10:28.979 --> 10:31.309 some cases where clients want to do 50% 10:31.320 --> 10:33.450 down , uh , they might have a va 10:33.460 --> 10:36.969 funding fee that the percentage , um , 10:36.979 --> 10:38.923 you know , we'll compare apples to 10:38.923 --> 10:41.090 apples to see if it makes sense or not 10:41.090 --> 10:43.201 to use it . So it's really just going 10:43.201 --> 10:45.423 through the different products that are 10:45.423 --> 10:47.535 out there . Uh , but typically the va 10:47.535 --> 10:49.590 loan is usually the best product for 10:49.590 --> 10:51.757 the veteran and you said shop around , 10:51.757 --> 10:53.923 shop around . Yeah . Yeah . Um , I got 10:53.923 --> 10:56.035 one more myth . Can I chat about that 10:56.035 --> 10:58.035 one more myth ? The other big thing 10:58.035 --> 11:00.109 that va I think gets a bad rap on is 11:00.119 --> 11:02.286 that the , uh , and we talked about it 11:02.286 --> 11:04.508 a little bit off camera here but , uh , 11:04.508 --> 11:06.730 a va has to have an appraisal just like 11:06.730 --> 11:08.750 any other transaction . Uh , and I 11:08.760 --> 11:10.593 think the trickiest part of a va 11:10.593 --> 11:12.760 appraisal that I can see or that comes 11:12.760 --> 11:15.330 up is va doesn't like any peeling paint , 11:15.619 --> 11:18.789 uh , any government program . FH A va , 11:18.869 --> 11:20.980 they all follow the lead paint laws , 11:20.980 --> 11:23.091 uh , from the seventies . So that's a 11:23.091 --> 11:25.147 big one still for va , some of these 11:25.147 --> 11:27.036 guys lines were set years ago and 11:27.036 --> 11:29.258 they're still there . Uh But if there's 11:29.258 --> 11:31.202 any peeling paint that's usually a 11:31.202 --> 11:33.425 pretty common and hopefully a minor fix 11:33.425 --> 11:35.591 that can get resolved pretty quickly . 11:35.591 --> 11:37.758 Um Other than that , a va appraisal is 11:37.758 --> 11:39.758 pretty much exactly the same as any 11:39.758 --> 11:41.980 other appraisal for any other program . 11:41.980 --> 11:44.313 Uh So they're going to look at the , uh , 11:44.313 --> 11:46.202 the soundness of the home . Is it 11:46.202 --> 11:48.313 structurally standing ? Um , and then 11:48.313 --> 11:50.369 they're really comparing it to other 11:50.369 --> 11:52.591 homes that have sold in the market . So 11:52.591 --> 11:54.702 there's really not a huge distinction 11:54.702 --> 11:56.591 on a va appraisal , but often the 11:56.591 --> 11:58.813 pushback I get from the public or , you 11:58.813 --> 12:00.925 know , other agents that may not know 12:00.925 --> 12:03.036 this program too well is they think , 12:03.036 --> 12:04.980 uh , the appraiser is gonna go out 12:04.980 --> 12:07.147 there and just scrutinize the property 12:07.147 --> 12:09.258 and kill their deal . Uh Now , if the 12:09.258 --> 12:11.369 home is that bad , that's going to be 12:11.369 --> 12:13.258 an issue for any program and it's 12:13.258 --> 12:15.202 nothing to do with VA . Um , so va 12:15.202 --> 12:17.202 appraisals are not that bad . And I 12:17.202 --> 12:19.313 don't think they're even , other than 12:19.313 --> 12:19.299 the paint , they're really not that 12:19.309 --> 12:21.531 much different than any other appraisal 12:21.531 --> 12:23.531 that's out there . Yeah . When , in 12:23.531 --> 12:25.531 reality they're probably just gonna 12:25.531 --> 12:27.587 look at the market and it's probably 12:27.587 --> 12:29.698 going to appraise for what the market 12:29.698 --> 12:29.669 says it's going to appraise for . I 12:29.679 --> 12:31.735 mean , unless it really has issues , 12:32.260 --> 12:34.955 like big issues and NBA home loans 12:34.965 --> 12:37.021 don't . Yeah , they , they're pretty 12:37.021 --> 12:39.187 stringent we were saying . Yeah . No , 12:39.187 --> 12:43.184 it's a lot . And you had said in the 12:43.195 --> 12:45.195 shopping around . So , you know , I 12:45.195 --> 12:47.139 think any good loan officer that I 12:47.139 --> 12:49.139 talked to out there , it's a hot on 12:49.139 --> 12:51.195 topic for us , uh , with veterans or 12:51.195 --> 12:53.424 any consumer that gets misled , but 12:53.434 --> 12:55.565 very often I , I see it more common 12:55.575 --> 12:58.700 with the va product . Um , I will tell 12:58.710 --> 13:00.877 any person out there anytime a bank is 13:00.877 --> 13:03.159 leading with some catch phrase or we're 13:03.169 --> 13:05.225 there for the veteran . Uh , there's 13:05.225 --> 13:07.280 even some banks that have veteran in 13:07.280 --> 13:09.336 their name . Uh , and I've seen it , 13:09.336 --> 13:11.447 the , the veterans think that they're 13:11.447 --> 13:13.502 there for them . They can trust them 13:13.502 --> 13:15.502 and that they're being protected by 13:15.502 --> 13:17.725 this bank . Uh , and very often when we 13:17.725 --> 13:19.891 look under the hood , those banks that 13:19.891 --> 13:19.700 are kind of trying to pull in the 13:19.710 --> 13:21.960 veterans very often have rates that are 13:21.969 --> 13:23.969 half a point to a point , higher , 13:23.979 --> 13:26.580 higher fees . Uh , and again , they're 13:26.590 --> 13:28.812 backing themselves so they're there for 13:28.812 --> 13:30.923 the veteran . And when we look at the 13:30.923 --> 13:33.034 estimates and from my point of view . 13:33.034 --> 13:34.979 It's go the veteran , they're just 13:34.979 --> 13:36.979 taking advantage of the veteran and 13:36.979 --> 13:39.312 that's so hard to protect yourself as a , 13:39.312 --> 13:41.479 as a home buyer and a veteran . How do 13:41.479 --> 13:43.757 you , how can you tell your , you know , 13:43.757 --> 13:45.868 your , your broker , your real estate 13:45.868 --> 13:45.760 agent ? Hey , this looks a little funny . 13:45.770 --> 13:47.714 I feel like I'm being work because 13:47.714 --> 13:49.659 these , you know , these rates are 13:49.659 --> 13:51.881 higher . But yes , I'm using my va home 13:51.881 --> 13:53.937 loan . I see all the benefits here . 13:53.937 --> 13:55.826 But why is the baseline over here 13:55.826 --> 13:58.103 outside of the loan higher ? I get you . 13:58.103 --> 14:00.326 Yeah . And the biggest thing and I even 14:00.326 --> 14:02.492 tell clients to shop me because I have 14:02.492 --> 14:04.714 no problem with it . You know , get two 14:04.714 --> 14:06.826 or three estimates , ask around , ask 14:06.826 --> 14:06.179 your realtor if you trust them . Hey , 14:06.190 --> 14:08.190 who do you like to work with ? Uh , 14:08.200 --> 14:10.256 because usually an agent that's been 14:10.256 --> 14:12.589 around for a while has trusted partners , 14:12.700 --> 14:14.867 uh , that they've , you know , they've 14:14.867 --> 14:17.089 gone through , they've worked with them 14:17.089 --> 14:16.690 for years and they know they're taking 14:16.700 --> 14:18.978 care of the client . So the main thing , 14:18.978 --> 14:20.922 any program to shop around and get 14:20.922 --> 14:23.020 several estimates and any good bank 14:23.030 --> 14:24.974 should be able to put what they're 14:24.974 --> 14:27.086 saying on paper to show you what it's 14:27.086 --> 14:29.308 going to , uh , you know , cost and you 14:29.308 --> 14:31.308 want to build your reputation . You 14:31.308 --> 14:30.869 want to make yourself look good . You 14:30.880 --> 14:33.270 don't want to , you know , line up one 14:33.280 --> 14:35.447 of your buyers with a va home loan and 14:35.447 --> 14:37.613 then , you know , it falls through and 14:37.613 --> 14:37.590 then you have a , yeah , you want to 14:37.599 --> 14:39.710 make sure you take care of yourself . 14:39.710 --> 14:41.766 So , yeah , it's really important to 14:41.766 --> 14:43.988 make sure that you're kind of doing the 14:43.988 --> 14:45.988 best thing for the veteran . Yeah . 15:04.669 --> 15:06.700 So when a veteran is shopping for a 15:06.710 --> 15:09.219 home , how , and they want to use their 15:09.229 --> 15:11.285 va home loan , I guess , how do they 15:11.285 --> 15:13.840 start that process ? Uh , so the best 15:13.849 --> 15:16.270 way to start the process , uh again is , 15:16.469 --> 15:18.691 you know , usually where people like to 15:18.691 --> 15:20.802 start is with the realtor . It's more 15:20.802 --> 15:22.913 fun to look at homes . Uh I it's more 15:22.913 --> 15:25.136 exciting , but if someone's starting to 15:25.136 --> 15:27.080 get into home ownership , the best 15:27.080 --> 15:29.136 thing is to talk to a bank , talk to 15:29.136 --> 15:31.191 your local broker . Um You know , in 15:31.191 --> 15:33.025 Vermont , um I think if you're a 15:33.025 --> 15:35.136 Vermont Bank , usually there's a more 15:35.136 --> 15:37.302 of a greater sense to that we're gonna 15:37.302 --> 15:39.413 have to give back to our community or 15:39.413 --> 15:41.136 that we're responsible for the 15:41.136 --> 15:43.358 community that we work in . So I always 15:43.358 --> 15:45.525 recommend someone start local . Um And 15:45.525 --> 15:47.691 again , if they get a recommendation , 15:47.691 --> 15:49.913 that's always a great way to start . Um 15:49.913 --> 15:52.025 But again , uh you know , finding out 15:52.025 --> 15:51.750 if you're eligible for va is you're 15:51.760 --> 15:54.440 starting a conversation like this . Um 15:54.830 --> 15:56.941 when I'm training new loan officers , 15:56.941 --> 15:59.163 they always are nervous when they first 15:59.163 --> 16:01.386 start ed uh talking to a consumer . And 16:01.386 --> 16:03.608 I think the best thing you do to get to 16:03.608 --> 16:05.719 know someone is , hey , where are you 16:05.719 --> 16:05.640 at ? With your situation because until 16:05.650 --> 16:07.872 you tell me what you're looking for , I 16:07.872 --> 16:10.039 don't really know how to guide you and 16:10.039 --> 16:12.317 everyone's situation is different . So , 16:12.317 --> 16:14.539 whenever I have a new client , I'm very 16:14.539 --> 16:16.706 low pressure , uh , always happy to be 16:16.706 --> 16:18.761 a resource . Tell me where you're at 16:18.761 --> 16:18.570 and what you're looking to do . And 16:18.580 --> 16:21.299 very often the , the client's situation 16:21.309 --> 16:23.142 is going to dictate what they're 16:23.142 --> 16:25.200 qualified for . Um , and when I love 16:25.210 --> 16:27.377 working with veterans , when they tell 16:27.377 --> 16:29.488 me they're a veteran , first thing we 16:29.488 --> 16:31.599 usually do is get that certificate of 16:31.599 --> 16:31.219 eligibility , make sure they're 16:31.229 --> 16:33.396 qualified because in some cases , they 16:33.396 --> 16:35.562 may think they are , they might have a 16:35.562 --> 16:37.618 friend that was , or they think they 16:37.618 --> 16:39.673 were , uh , but getting that flushed 16:39.673 --> 16:41.840 out and then we're just really looking 16:41.840 --> 16:44.062 at the numbers . Um , and at the end of 16:44.062 --> 16:46.062 the day , the mortgage is all about 16:46.062 --> 16:45.840 comfort with that monthly payment and 16:45.849 --> 16:48.127 then how much does it really cost ? So , 16:48.127 --> 16:50.127 I try to boil it down to being that 16:50.127 --> 16:52.182 simple . Uh , so we'll start talking 16:52.182 --> 16:54.293 about budgets and what's your monthly 16:54.293 --> 16:56.349 payment ? And very often they may be 16:56.349 --> 16:58.460 qualified for a lot higher , but it's 16:58.460 --> 16:58.150 all about what's best for them and 16:58.159 --> 17:00.215 their family and their comfort level 17:00.215 --> 17:02.381 with that payment . So , just starting 17:02.381 --> 17:04.548 with that conversation is the best way 17:04.548 --> 17:06.715 to start . Oh , yeah . Lenders love to 17:06.715 --> 17:08.937 lend you a lot of money . Sure . Yeah . 17:08.937 --> 17:08.719 Uh , you know , and that's what I'm in 17:08.729 --> 17:10.896 the business of doing is lending , but 17:10.896 --> 17:13.118 we want to make sure we're doing it the 17:13.118 --> 17:15.229 right way and uh that , that client's 17:15.229 --> 17:17.396 gonna succeed to then continue to keep 17:17.396 --> 17:19.562 buying and , you know , keep that home 17:19.562 --> 17:21.729 down the road . So , yeah , I mean , I 17:21.729 --> 17:23.951 remember his historically , there was a 17:23.951 --> 17:23.928 place when the market was , you 17:23.938 --> 17:26.105 couldn't even talk to a realtor unless 17:26.105 --> 17:28.271 you talk to a lender first and you get 17:28.271 --> 17:30.494 pre approved because real estate agents 17:30.494 --> 17:29.409 were so busy . They didn't , they're 17:29.418 --> 17:31.529 like , oh , you're not pre approved , 17:31.529 --> 17:33.696 go talk to a lender then you can , you 17:33.696 --> 17:35.862 know , then we'll spend some time with 17:35.862 --> 17:35.318 you . But until then , you know , it's 17:35.328 --> 17:37.272 because so many people like didn't 17:37.272 --> 17:39.272 qualify for houses . So many people 17:39.272 --> 17:41.384 have bad credit or were in situations 17:41.384 --> 17:43.550 where they weren't going to be able to 17:43.550 --> 17:43.329 buy a home , but they still wanted to 17:43.339 --> 17:46.050 go house shopping . So , yeah , and the 17:46.060 --> 17:48.282 biggest thing , you don't want to waste 17:48.282 --> 17:50.171 your own time . Uh I see a lot of 17:50.171 --> 17:52.282 clients , they get excited about that 17:52.282 --> 17:52.170 house so that when we look at the 17:52.180 --> 17:54.739 numbers , they might be qualified for a 17:54.750 --> 17:56.472 little bit less of a home . So 17:56.630 --> 17:58.463 definitely having that financial 17:58.463 --> 18:00.630 education up front and learning what's 18:00.630 --> 18:02.574 out there is a better way to start 18:02.574 --> 18:04.741 before you even get in the car to go . 18:04.741 --> 18:07.074 Look at the home , especially right now , 18:07.074 --> 18:09.241 the prices of homes are astronomical . 18:09.241 --> 18:11.463 In Vermont County area . The houses are 18:11.463 --> 18:13.954 just through the roof . So , yeah , va 18:13.964 --> 18:16.242 home loan is definitely a good program , 18:16.242 --> 18:18.464 good benefit , you know , for qualified 18:18.464 --> 18:20.435 veterans . Um Well , thank you for 18:20.444 --> 18:22.666 coming on our podcast today . It's been 18:22.666 --> 18:24.833 a , it's , it's a little hot in here . 18:24.833 --> 18:26.944 It's a little warm , warm day , but I 18:26.944 --> 18:26.500 think we're supposed to have a lot of 18:26.510 --> 18:29.050 good information . Um , we'll be airing 18:29.060 --> 18:31.719 this podcast in July . Um , if people 18:31.729 --> 18:33.896 want to come and find our podcast , we 18:33.896 --> 18:36.007 put these on youtube , we're gonna be 18:36.007 --> 18:38.062 putting them on Spotify , Facebook , 18:38.062 --> 18:39.785 Instagram and our Facebook and 18:39.785 --> 18:42.007 Instagram is NG BT family programs . If 18:42.007 --> 18:44.229 you want to get on our INS uh Instagram 18:44.229 --> 18:46.285 and our Facebook . And yeah , that's 18:46.285 --> 18:45.420 where we like to post all of our 18:45.430 --> 18:47.541 benefits . So really getting this out 18:47.541 --> 18:49.763 to soldiers and the family members is , 18:49.763 --> 18:52.097 is , is what we're working on right now , 18:52.097 --> 18:53.708 making sure we can reach our 18:53.708 --> 18:53.689 information that we're talking about . 18:53.699 --> 18:55.810 So , um , thank you for coming on the 18:55.810 --> 18:57.977 show . Let people know , you know , uh 18:58.130 --> 19:00.297 and hopefully good luck to you over on 19:00.297 --> 19:02.463 your side of the field , selling those 19:02.463 --> 19:04.519 houses , getting those loans . Thank 19:04.519 --> 19:03.839 you . We do what we can and thank you 19:03.849 --> 19:06.071 for your service as well . No , no , no 19:06.071 --> 19:08.182 problem . Thank you for coming on the 19:08.182 --> 19:10.238 show today . Well , that's all I got 19:10.238 --> 19:12.293 for today . Thank you so much and um 19:12.293 --> 19:15.849 have a great day for more 19:15.859 --> 19:17.970 information or support . Please reach 19:17.970 --> 19:19.915 out to the Vermont Military Family 19:19.915 --> 19:21.859 Support centers , toll free number 19:21.859 --> 19:24.609 8886078773 . 19:31.400 --> 19:33.122 The preceding content does not 19:33.122 --> 19:34.789 constitute endorsement by the 19:34.789 --> 19:37.067 Department of the US Army US Air Force . 19:37.067 --> 19:38.956 Vermont National Guard or Vermont 19:38.956 --> 19:40.844 Military Family programs with the 19:40.844 --> 19:42.900 organization's products and services 19:42.900 --> 19:44.844 contained there . In further , the 19:44.844 --> 19:46.678 Vermont military family programs 19:46.678 --> 19:48.567 assumes no responsibility for the 19:48.567 --> 19:50.678 consequences of using the products or 19:50.678 --> 19:52.844 services provided by the organizations 19:52.844 --> 19:54.900 of resources listed Vermont military 19:54.900 --> 19:57.011 family programs makes every effort to 19:57.011 --> 19:56.885 present our clients with reputable 19:56.895 --> 19:59.244 resources . We cannot guarantee the 19:59.255 --> 20:01.564 validity of said resources and the use 20:01.574 --> 20:03.594 of such resources is voluntary .