Buying a House - VA Loan. I can’t believe most buyers are doing no contingencies to buy property above $700k. My VA loan will never work at this rate... now I am getting pushed to do a conventional loan. Bro, I’ll probably keep my cash in stocks.

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Welcome to the DMV. Full of highly paid dual income no kids households.

It’s really tough, I’ve made offers with no contingencies and well above asking only to get rejected because my lenders closing period is 30 days.

Would recommend you use a local lender that can close fast because that will make you more competitive around here with your offer to say 10 day close vs 30

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I’ve submitted two non contingent offers and both were rejected at the $1mm mark. In this area I will never use my VA Loan unless I went to Woodbridge or someplace like that

Yea this became a big thing as interest rates hit their lowest end of 2020. I had looked everywhere around DC and NoVA to settle in Alexandria. Had the same issue with VA loan. Got lucky buying off market. Homes in the same hood were in bidding wars on market for only 2-3 days waiving everything.

Advice is to find a good realtor who targets the area you like and can do the same for you. Also, I worked with a personal Loan officer as my wife is a VP at a mortgage lender.

I skipped the VA loan option and went with a local lender to close faster. Rate and fees were actually better than the VA loan. We got a fixer upper in Alexandria and it has been awesome, but a ton of work. We put about 7% down and used the rest of the planned down payment to make the place to our liking

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