Great News for Veterans Buying Homes! VA Loosens Restrictions on Realtor Fees

We have exciting news for veterans using their VA home loan benefit to purchase a home! The Department of Veterans Affairs (VA) recently announced a temporary policy change that allows veterans to directly compensate their real estate agent.

Previously, VA regulations prohibited veterans from paying their realtor a commission directly. This could make it difficult for veterans to find qualified representation in a competitive market.

Thanks to advocacy efforts by the National Association of Realtors (NAR), veterans now have more freedom:

• Eligible veterans, active-duty service members, and surviving spouses using their VA home loan can now pay real estate buyer broker fees.
• This ensures veterans have equal access to professional representation when buying a home.
• Veterans can now negotiate fees directly with their real estate agent or ask the seller to cover the cost.

The VA is committed to supporting veterans' homeownership:

• The VA home loan program is a valuable tool offering veterans a centralized, affordable way to purchase a home with no down payment.
• The VA recognizes the importance of professional real estate representation, especially in a competitive market.

What's Next?

• The VA and NAR will monitor the impact of this policy change as it takes effect on August 17th, 2024.
• We can expect further updates from the VA as needed.

We're here to help!

As your real estate professional, I'm committed to helping veterans achieve their dream of homeownership. Whether you're a veteran, active-duty service member, or surviving spouse, I can guide you through the home buying process and ensure you get the best possible representation.

Contact me today to discuss your VA home loan options!