One thing that can catch VA buyers off guard is the appraisal.

A VA appraisal isn’t just about determining the property’s value. The appraiser can also flag certain property-condition issues that may need to be addressed before the loan can move forward.

That doesn’t automatically mean the deal is dead, though.

This video breaks down what a VA appraiser is looking for, some of the issues that can get flagged, and what buyers can potentially do when a property doesn’t pass the first time:

https://youtu.be/512k0_zpaMo

For anyone who’s bought using a VA loan, did your appraisal flag anything that had to be fixed before closing?

A 60-point credit score difference might not sound huge, but over the life of a mortgage it can potentially add up to tens of thousands of dollars.

This example compares a 680 credit score with a 740 and shows how the difference in mortgage pricing can translate to roughly $165 more per month and nearly $60,000 over 30 years.

It also covers some of the score ranges buyers should know about and why improving your credit before applying for a mortgage can matter even if you already qualify.

Here’s the full breakdown:

https://youtu.be/C14k5SiTxYw

For anyone who’s gone through the mortgage process recently, how much of a rate difference did you actually see when comparing different credit-score ranges?

A lot of buyers seem to be waiting for mortgage rates to fall before they make a move, but the market rate isn’t necessarily the only option.

There are a few ways buyers can potentially get a lower effective rate even while prevailing rates remain much higher:

• Taking over an existing assumable VA or FHA mortgage
• Using a seller-paid 2-1 buydown
• Permanently buying down the rate with discount points

Obviously, each comes with tradeoffs and they won’t work for every buyer or property. The assumable mortgage angle is especially interesting because some homeowners are still sitting on loans originated when rates were significantly lower.

This video breaks down how all three strategies work and some of the catches buyers need to consider:

https://youtu.be/vhZ1bEDDLfM

Has anyone here actually used an assumption or seller-funded buydown recently? I’d be interested to hear how the numbers compared with just taking the current market rate.