Little Known Secret about GA VA Loans

acad_vaThere is a little know secret when you are trying to obtain a VA loan in Georgia.  I have been helping Veterans with this for years.  VA loans allow the seller to pay up to 4% of the sales price toward a borrower’s debt.  Let’s say you are buying a $200,000 home and you have $8,000 in credit card debt.  You can negotiate with the seller to pay off your $8,000 debt at closing.  A VA loan is the only type of loan that has this provision.  The purpose of this is to alleviate some of your monthly debt obligations, not for you to go and run up another credit card.

If the veteran utilizes this properly, it will improve their financial picture and strengthen their debt income ratio.  I most commonly see this being utilized with new construction, because most builders are aware that they have this option, especially if they are located close to a military base where a lot of active military people are buying homes.  I really enjoy working with our men and women of the military and would be honored to help you with this when you are ready to buy a home.

 

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