A sign shows Fort Bragg information May 13, 2004 in Fayettville, North Carolina. (Logan Mock-Bunting/Getty Images)
23 Apr 2021 Business Insider | By Natasha Dailey
Real-estate agent Melissa McHarney was told to make an offer on a house in Durham, North Carolina, for $60,000 over the asking price.
She told her client, who was using a government-backed home loan provided by Veterans Affairs, that it wasn t a smart idea financially. The client told her to do it anyway. We didn t win, McHarney said. In the end, the seller took the conventional offer over the VA offer.
Amid the hot real-estate market, veterans and military families have struggled to find homes as the country faces a shortage of 4 million houses, skyrocketing prices, and a lack of building materials. The shortage has pitted civilians with cash or conventional loans against military personnel seeking to use the VA s home loan a government
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Military members and veterans hoping to buy a house with a VA loan are struggling to compete.
Misperceptions about the VA loan are putting military buyers at a disadvantage to conventional offers. We re going to lose every time, said one broker near the Fort Bragg Army base in North Carolina.
Real-estate agent Melissa McHarney was told to make an offer on a house in Durham, North Carolina, for $60,000 over the asking price.
She told her client, who was using a government-backed home loan provided by Veterans Affairs, that it wasn t a smart idea financially. The client told her to do it anyway.