Any real estate agent that has worked with a buyer doing a VA (Veteran’s Administration) loan can tell you that they are not always the smoothest of transactions. I won’t go into details…
Oregon is fortunate that we have the ODVA loan program. The Oregon Department of Veteran’s Affairs has an amazing loan program for our vets. They don’t do 100% financing like a regular VA loan will be, but it is only a 5% down loan.
I have worked with several buyers this year that have done ODVA loans. All successfully, and all without the painful process. In fact, I like working with ODVA so much, that I ask all potential buyers if they are vets.
The week of Thanksgiving one of my buyers had the buyer of their home start of head towards transaction failure. We were set to close, December 3rd. My buyer was very solid and the mortgage broker, Mike Malowney, and the underwriter at ODVA, rewrote the loan and had new loan documents sitting at escrow the day before Thanksgiving. In 24 hours, they worked their magic.
Documents went out of town to the buyers, who were relocating here from another state, were signed, sealed and delivered back to escrow in time to close ON TIME.
So…I just want any buyers looking to move to Oregon that are veterans, to call Mike Malowney about the ODVA loan, and then give me a call to help you find a house.
I’m naming names….The good names.
(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)