“I’m a vet and want to buy using VA financing. I’ve had offers rejected because they won’t sell VA or they take another offer because they don’t want to sell VA. Is that even legal?”
Answer:
THANK YOU for your service to our country.
To answer your question, it is not illegal or discriminatory because banks are not refusing to sell to veterans—they are refusing to sell with VA financing.
Ever notice that sometimes when the government gets too involved there are unintended consequences…? This is a perfect example.
VA rules require that homes purchased with VA financing are in good condition, a laudable goal. However, the rules are very specific and require many minor, even trivial, repairs be done in order to allow a sale.
For example, many vets are fine buying a home with torn carpet or a broken window or peeling paint, etc. Are these really that big of a deal?
But VA financing requires those repairs be made or the sale can’t happen. Consequently many banks are hesitant about selling with VA financing as they don’t want to pay these costs, especially because they often pop up a few days before closing.
I appreciate your service and wish it were easier for you to get a VA loan.
