Essay on Va Real Estate

661 Words Jan 12th, 2013 3 Pages
This website provides assistance and information to Veterans of war who served in the United States Armed Forces. It is run by the United States Department of Veterans
Affairs. Specifically, the website offers information and assistance in obtaining a Guaranteed Veterans Affairs Home Loan. The subject section of the website is the Lenders and Real Estate Professionals Home Page. It offers the Lenders Handbook Pamphlet detailing everything a lender needs to know about Veterans Affairs Home Loans. A VA home loan often helps veterans acquire a slightly more favorable interest rate than a traditional home loan. The Lenders Handbook Pamphlet outlines the Lenders rights, Veterans Eligibility Requirements, The VA Loan and Guaranty, Credit
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Not only does the VA protect the borrower, but it protects the lender from loss with the VA Guaranty. With the VA Guaranty the VA encourages the lender to offer the veteran borrower favorable terms. If the veteran borrower defaults on the home loan the VA will pay the balance to the lender and the veteran borrower will be responsible for resolving the debt now owed to the VA. This is a valuable website for veterans of the United States Armed Forces who are interested in buying a home. It offers many helpful tools and useful information.

HOW IT RELATES TO OUR COURSE MATERIAL

The website www.homeloans.va.gov/ls.htm relates to the course, Real Estate Principles, in almost every aspect. The VA offers tools and information to lenders who may do business with a veteran borrower as well as helping veterans in find out what the subject property is worth through its appraisal function and in helping the veteran through the entire home loan process. The middle section of our course dealt with appraisals. We learned how to determine what a piece of real estate is worth to us as an individual or as an investor. We also learned how to calculate the market value of a piece of real estate by using the Sales Comparison Technique and the Cost Approach Technique. The Veterans Affairs website demonstrated how they would have the subject property appraised. In our course we have

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