I will be using VA hoam loan program. Do the banks who have REO's and short sales accept the VA guaranteed mortgage??

Asked by Florida Ted, Hutchinson Island, FL Tue Apr 2, 2013

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John Steinwa…, Agent, 34102, FL
Wed May 1, 2013
IberiaBank does VA loans.
0 votes
Marc Comisar, Agent, Bonita Springs, FL
Tue Apr 2, 2013
Yes.....almost all sales will accept miinus certain cash only deals/or some condos.....depending on your personal use of property as well. We can help if you need someone....let us know.

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Danielle Sha…, Agent, Cape Coral, FL
Tue Apr 2, 2013
I work with many VA buyers and it comes down to property condition. REO/short sales will not prohibit you from making a purchase using your VA benefits but keep in mind that any items that need to be repaired per VA requirements will likely come out of your pocket, not the seller's.

Any questions about what to expect using your VA benefits feel free to contact me.

P.S. Thank you for your service!
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Scott Larson, Agent, Naples, FL
Tue Apr 2, 2013
Yes foreclosures will accept a VA offer but with some hesitation because they prefer cash like any other seller. Fannie Mae foreclosures may be your best bet. Short sale acceptance of an offer is from the current owner, not the bank.

Best regards, Scott

Real Estate-Real Easy

Scott R Larson PA GRI
Cell: 239-405-1545
Fax: 800-782-1819
email: scottlarson@advantarealty.com

To view thousands of SW Florida listings visit http://www.slarson.advantarealty.com

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Dalia Quiros…, Agent, Bonita Springs, FL
Tue Apr 2, 2013
Depending on the condition of property, buyers can purchase an REO using VA financing.
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Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Tue Apr 2, 2013
That VA loan is not always the best choice and can actually prevent you from getting the best deal in certain cases.

I used my VA benefit on my first property years ago, but would avoid using it ever again for multiple reasons which I'd like to share with you.

See programs below, then contact me to talk about how to minimize payments and reduce out of pocket costs.

1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BK…OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)

4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO w/cc
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals

--------STATED INCOME ALT up to Super Jumbo-----------
11) 80% LTV- FIX n’ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
16) COMMERCIAL PROGRAMS-available nationwide

Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida

Prior Service U.S. Marine Corps
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Kevin Yankow, Agent, Fort Myers, FL
Tue Apr 2, 2013
Distressed sales (REO and Short Sales) will require either proof of funds or pre-approval letter from a lender. FHA, VA, or any other conventional lending program should make no difference. I'm currently working with several buyers purchasing foreclosures or short sales and would love to answer any more questions you have. Feel free to call or email anytime.

Kevin E Yankow
KEY Real Estate, Inc.
Web Reference:  http://keytonapleshomes.com
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