Mpire Financial NMLS# 2108504 Facebook ad: “Here's a stat that makes my blood boil.80%…”

About this ad

Meta Ad Library ID

2288834118259554

Platforms

Facebook, Instagram, Audience Network and Threads

Relaunches

0

How we count

Ad text

Here's a stat that makes my blood boil...80% of veterans are homeowners but only 13% have ever used their VA loan benefit. The amount of straight up wrong information people are spreading about VA home loans is actually criminal. Like these arent just little mistakes... People are making MASSIVE financial decisions based on complete BS they read in some facebook group. 🙄 I went down a rabbit hole last night reading VA loan advice on reddit and I'm genuinely mad now. So here's my rant about the myths that need to die: Myth 1: "You cant buy a fixer upper with VA" This ones kinda true but people get it twisted. You can buy fixer uppers... they just need to be livable at closing. Basically the house has to pass a VA appraisal which checks safety stuff (no exposed wiring, working heat, intact roof, that kind of thing). But cosmetic stuff? Ugly carpet, outdated kitchen, weird paint colors... all totally fine. I've seen people pass on great deals because they thought VA meant it had to be perfect. Myth 2: "Sellers dont want VA buyers" Ok real talk... some listing agents DO say this but its because they dont actually understand how VA works. They're scared of the appraisal coming in low but guess what? Conventional appraisals can come in low too... And VA has this thing called Tidewater that actually lets the listing agent submit comps if they think the appraisal might be off. Like they get a heads up and a chance to fix it before it tanks the deal. Most agents who work with VA loans regularly know this isnt actually a problem. Myth 3: "The VA funding fee is crazy expensive" People hear "funding fee" and freak out but its like 2.15% for first time users with zero down. And you can roll it into your loan so you dont pay it upfront. Plus if you have a service connected disability? Its completely waived. Compare that to PMI on a conventional loan with 5% down and you're still coming out way ahead with VA. Myth 4: "You have to be active duty to use it" Nope. Veterans, reservists, national guard, surviving spouses... lots of people qualify. You dont lose it when you separate (unless you got like a dishonorable discharge or something) Myth 5: "You can only use it once" This is the one that makes me want to scream. You can use your VA loan multiple times. You can even have two VA loans at once if you have enough entitlement left. Sold your first house? Your entitlement gets restored and you can use it again. VA loans are honestly one of the best benefits out there... no down payment, no PMI, competitive rates. But people are either unaware or psyche themselves out because of all this misinformation floating around. If you've got the benefit just talk to a loan officer who actually knows VA loans inside and out. Most of these "problems" arent actually problems.