My husband and I are 64 & 68 yrs. of age. Can we use his VA to get bank owned home?Credit Fair to good.

Asked by Richardcvn, Las Vegas, NV Fri May 29, 2009

We have not had home loan for over 15 yrs. Are we considered 1st time buyers?

Help the community by answering this question:

+ web reference
Web reference:


Jennifer Yen, , Las Vegas, NV
Sun May 31, 2009
Yes, you can certainly purchase bank owned properties with a VA loan. Not all properties are VA approved, but there are enough inventory where you will still have a good amount of homes to choose from. I have worked with clients with VA loans. Specific requirements to get the loan process going would have to be done by a qualified loan officer. I have free referrals for experience loan officers with Wells Fargo who can you do the intital qualification process and supply you with a preapproval letter. Preapproval is the first step before moving on to looking for a home so you won't waste your time looking at homes or going to open houses. When looking at properties, I would show the properties that are mostly likely to be VA approved and would have minimal VA appraisal conditions (which sometimes can delay the closing of escrow). And you are considered a first time homebuyer if you have not owned or purchased a home within the last 3 years or if you are buying a home for the first time in your life. I would love to be assist you in this important but complex process of buying bank owned properties. With the VA loan, you have zero down payment, but of course if you choose to, you can. Please do give me a call if you have further questions or if I can help you in any way. 702-672-6313
0 votes
The Ballen G…, , Las Vegas, NV
Fri May 29, 2009
Yes you can use the VA benefit. But the lender would need a ton more info such as: Do you have enough income? Do you own a house right now? How much debt? Any lates recently? Did you use the VA beneefit before? Did you repay it? Is it reinstated? We need a lot more info but assuming the right answers to all those questions, then you can buy VA.

We would love to work with you. Ask about our SECRET PRE-LIST OF FORECLOSURES that have not even hit the market yet. You can see them before the public does. Feel free to use your Las Vegas MLS Search Tool at and view our other Las Vegas Real Estate Links below. If you live out of the Las Vegas Valley, send your address to and request your FREE home buyers kit. It’s packed FULL of exciting information, Las Vegas Area MAPS and more. We have a special Summerlin Real Estate Kit as well. Visit to request your FREE kits, see property information, buyer & seller tips, read blogs about the Las Vegas Real Estate Market and more. The Ballen Group of Coldwell Banker Wardley Real Estate is your one stop Real Estate Shop! Thank Goodness you found us!

LAS VEGAS REAL ESTATE LINKS: Contact The Ballen Group by sending and email to, or Call 702.604.7739 (or 702-604-7738). The Ballen Group gets YOU results.

Las Vegas MLS Search:…

Featured Las Vegas Real Estate Listings:

Find Las Vegas Foreclosures:

Summerlin Real Estate:…

Las Vegas Real Estate News Blog: http://

Get a Home Evaluation:

First Time Home Buyers Tax Credit Information:

Las Vegas Short Sale and Foreclosure Definitions:…

Las Vegas Short Sale FAQ’s: http://

National and Las Vegas Shortsale News:

**If any of these links are broken or arrive at incorrect pages, please be so kind to send a courtesy email to telling us what the link should have been and where it landed. Thanks! We appreciate your time as it helps us improve our customer service.



0 votes
Search Advice
Ask our community a question

Email me when…

Learn more