If you have had any clients in the past who’ve been in the military, you already know about the special benefits veterans receive from the government to get a veteran mortgage for a home because of their service to our country. Since veterans receive help from the government, they are encouraged to buy a home. As an agent, you have to learn how to sell a home to veterans by helping them utilize all the veteran mortgage benefits they will receive from Uncle Sam when they are ready to buy a home!
Many veterans are able to get home loans backed by the U.S. government through private lenders. Most VA loans do not require a down payment, which is great because down payments can be quite expensive depending on what home they want. There is also no minimum credit score requirement, so all types of veterans with different financial backgrounds can benefit from these loans. As a real estate agent, you should check out the Veteran Affairs home loans section on their website and get familiar with who qualifies and how to help a veteran buyer get one of these loans.
Many states allow veterans to be exempt from paying property taxes. This is great news for veterans who are disabled or of a certain age group. Since property taxes can add up to thousands per year on a home, this is money they can save for more important expenses!
Advice for Veterans
Give home-ownership advice to your veterans seeking a veteran mortgage. Many veteran clients may be first-time homebuyers. Some of them may have already owned a home, but just became veterans, and they want to know about the veteran mortgages they can receive for refinancing or buying a home. Explain the best types of home loans that are offered to veterans. Discuss their credit score and options for their mortgage. Help them look for homes in neighborhoods that they want to live in. Finally, help them choose the right mortgage option wisely to ensure they will get preapproved and be able to move into their dream home as soon as possible.
Help with the Home Mortgage
If you’ve already worked with a veteran on buying home, and they are now unable to make payments every month, there is help out there. VeteransPlus is a nonprofit organization that helps veterans who may be struggling with paying for their home and monthly payments.
If you find out that your newest client is a veteran, be sure to help them learn all that they can about the benefits they receive from the government. This way, they’ll know that they can trust you as their real estate agent and want to buy their home with you as soon as possible. As a real estate agent helping a veteran buy a home, you will feel happy to help someone who served our country by giving them the help they need to buy their dream home.