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The Truth About VA Loans: Debunking Myths
Issue #025
In this Knoxville Insider Issue…
🌤️ Real Estate Edition - The Truth About VA Loans: Debunking Myths

The Truth About VA Loans: Debunking Myths and Highlighting Benefits for Buyers and Sellers
A common misconception among some real estate agents is that VA loans are bogged down with bureaucracy and long processing times. In reality, the VA loan program has made significant investments in technology over the past decade, allowing these loans to keep up with other loan types in terms of speed and efficiency. On average, VA buyers are more likely to make it to closing day compared to other types of buyers.
One of the key advantages of VA loans is the relaxed underwriting process. Most Veterans are approved through an Automated Underwriting System (AUS), which speeds up the approval process. VA loans often have more flexible credit score requirements and permit higher debt-to-income ratios, which lowers the chances of facing challenges related to a buyer's financial profile..
In fact, data from Ellie Mae shows that over the past two years, conventional loans closed just three days faster than VA loans on average. Preapproved VA buyers are considered strong candidates in the current market, offering both buyers and sellers confidence throughout the transaction.
However, there are some important factors sellers should be aware of:
Property Appraisal: The property must pass a VA appraisal and meet Minimum Property Requirements.
Non-Allowable Fees: Certain fees may be asked to be covered by the seller, as determined by VA guidelines.
Concessions: VA guidelines allow sellers to contribute up to 4% of the selling price in concessions.
As a wife of a veteran and a mother of two currently serving on active duty, I understand the importance of supporting those who have served our country. Allowing them a fair shot at homeownership is the least we can do. Despite myths about VA loans, these buyers are just as strong—if not stronger—than other buyers.
Ask a Realtor/Broker😀
Got questions about buying or selling? Feel free to reach out! Whether you’re curious about how to get started or want advice on maximizing your home’s value, I’m here to help with all your real estate needs.

The Real Estate Edition Issue brought to you by Barbara Newton. She can be reached at [email protected]
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