As a Fannie/Freddie and GinnieMae direct lender, we have very few overlays or add-on's to our lending guidelines. As a USACares.org certified VA lender I am committed to representing our active and retired Veterans to the best of my ability.
Before you jump ship on the house, you might consider having another lender review the appraisal. I could get that accomplished pretty quickly...as I am sure others could. Your loan is registered through VA so it would have to be transferred (pretty easy, actually) once you know the lender approves the appraisal.
Be happy to clarify any questions for you!
All my best,
Anyway, husband talked to a VA lender today who may be able to help. Only cares about appraised value not steps to the bathroom from non-bedroom..
Since I am repeatedly assured that if we were seeking a conventional mortgage, buying this house would be no problem, I believe the problem is prejudice against VA loans. I don't see that the lender's risks change appreciably by my bringing $10,000 to the table. Market very tight. really no other homes in our price range. I have watched the market for 3 years and it just gets tighter and higher priced.
I closed escrow on a VA loan for my client today, actually. If a Realtor or Lender isn't familiar with VA guidelines, the possibility of a difficult escrow is greater. I have never personally had any issue with my clients using a VA loan to obtain their home in So California. Call me so we can review your scenario. I'd be happy to help!
Serving Rancho Cucamonga and the Inland Empire for 13 years!
You definitely must keep looking for homes. When one home does not work pick up that weight left over and find something possibly better that will suite your current situation. The value did not come in ok! No Problem! In this market especially in this area this isnt something unfamiliar to us Realtors. No you do not have a down payment. No problem! There are ways to go around this. Give me a call or email and lets discuss a few possibilities.
Cell 323 2097677
I look forward to servicing you soon! :)