Gary Giffin's Blog Blog Real Estate News Events San Diego,CA

$8,000 Federal Tax Credit is it Gone? Not if you are a Veteran!!!

What I’ve always loved about VA loans is how every unique guideline is designed to benefit the veteran.  More information regarding these benefits can be found on a related blog post here.  Many of my colleagues who do home loans prefer not to do VA loans due to the complexity of the guidelines.

Veteran Family w- house VA loans are different.  They’re designed for a niche market and requires a fair amount of training to be an expert, but it’s nice to see that our government is always looking out for those who look out for us.

In my opinion, there is not a better loan program for this housing market than a VA loan.  Many home buyers would like to buy a home but cannot because they do not have the money to put a down payment.  This is true for both first time buyers or move-up buyers.


Most veterans know they can put zero down on a VA loan.  Outside of that, veterans buying their first home do now know much about VA loans.

Most buyers do not want to buy until they financially prepare their own budget.  The biggest reasons a buyer will hold off on buying is to improve their credit, pay off some debt or save up for a down payment.

The guidelines for a VA loan usually can cure all 3 problems without the wait.  Credit score requirements are very lenient compared to conventional loans.   The VA actually allows the veteran to negotiate with the seller to pay some of the veteran’s debt at closing (the only loan program I know that allows this!).  Lastly, VA loans not only are 100% financing, they do not require the veteran to contribute any funds to the purchase.

My suggestion to all veterans who are thinking of buying, find a VA loan expert.  Write down all the financial and credit hurdles you see between you and homeownership.  A good VA loan representative will be able to find out if they are truly factors worth waiting before buying.  More often than not, the veteran does not need to wait to buy.


The VA allows a buyer to buy with no money down.  You can utilize this benefit for first time buyers, but this is also very helpful for move-up buyers.  On several occasions, I’ve had veterans who wanted to sell their home and buy a new one but do not have any proceeds from their sale.  The ability to buy their new home with little to no money into the transaction makes the ability to buy a new home much more feasible.  In fact, it usually ends up being beneficial for the veteran to move-up now, even if they do not make any money from their sale.

Gary Giffin, Middleton & Associates La Jolla Realty,  La Jolla Realtor located on 848 Prospect St. 92037. If you’d like to learn more about Gary, visit his website, or San Diego Coastal Real Estate at , email him,, or call him for an appointment at 858-401-0204


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