Posted on: 11th Oct, 2012 01:20 am
We liked a property and placed an offer for it. Our real estate agent called me and said that we didn't get it. She said that someone else had made an offer at full price after us, and that the listing agent said that "the other buyers have more attractive financing". She told us that since VA loan, that the seller accepted the other offer. Is this common? I thought of a VA loan as a benefit for military service. But now I'm thinking it makes us look like unqualified buyers...
VA loans may take time to get approved. That can be one of the reasons why the seller refused as he/she may be in a hurry to sell off the property.
VA loans ARE a benefit for military service and you should be proud to be VA eligible! It would be interesting to know what the other people had to offer, but either way, I would keep you VA loan. There are so many advantages to a VA loan. Don't waste those benefits because of what other people think, you deserve them!
Yes, you are right that a VA loan is intended to a person or the spouse of that person who served the armed forces of the country. Are you sure that the person who got the loan does not belong to the category reserved for VA loans. You did the mistake of not getting the loan pre-approved in yourr name.
Check out whether the VA loan is offered to some unqualified buyers. If you are sure that it is being offered to some unqualified borrowers, then you can report it to the respective authority.