Nov 8, 2023
We are in a market that is now topsy-turvy. We are part of the major movements in the economy of our country and there are benefits and challenges in the flow of economics and of buying a home. Today, we are going to talk about a group of people who have had some tough times buying in recent years. We’re talking about our active-duty military and our veterans who use VA Loans to purchase a home. Working with VA borrowers right now could be just what your business needs.
Jimmy Vercellino is our guest today. He’s going to educate us about these loans and he is going to show us how we can serve our veterans well in the homebuying process.
[3:01] Jimmy discusses his background. He served in
the military and now helps veterans.
[6:51] Jimmy, as a Marine veteran, shares a common
language with the veteran and active-duty military homebuyers he
serves. If you, a REALTOR®, speak that language, you can better
serve that client and there’s instant trust, differentiating you
[9:41] Getting veterans to learn about the benefits of
VA Loans is the most important thing. The military doesn’t teach
this. The VA doesn’t advertise it. Mortgage loan originators don’t
[11:22] A veteran can get 100% financing. VA loans
today no longer have a cap, as long as the veteran qualifies by
income and credit. In addition, there is no PMI (private mortgage
[13:00] A veteran can use more than one VA Guaranteed
Loan at a time, as long as they have enough entitlement. These
features can help a veteran create wealth through real
[20:09] A mortgage originator who dabbles in VA
Guaranteed Home Loans hasn’t been properly trained. They don’t
understand the nuances of the VA Home Loan Benefit. You want to
work with somebody who has an in-depth understanding of VA Home
[23:15] The only time Jimmy doesn’t recommend a veteran consider a VA Loan is when they’re paying cash. He always wants veterans to have a VA Loan on the table as an option, so they can make an informed buying decision on what’s best.
[24:46] Jimmy wants real estate pros to know that just because their client is putting 20% down does not mean they should use a conventional loan. Make sure that your client is getting all the options.
[26:28] On Jimmy’s YouTube channel, linked at the end
of these show notes, Jimmy interviewed a VA appraiser. A VA
appraiser is not an employee of the VA. The appraiser said no
appraiser should ever change the home value based on the loan
[34:24] Va Guaranteed Loans are assumable. There is a
lot of confusion that exists in this space. Two things have to
happen to get a VA Loan assumed.
[40:13] Jimmy’s philosophy on providing value to military homebuyers is to ask them if they know the benefits of a VA Guaranteed Home Loan, listing them one by one.
[42:00] If your questions have provided value to the military member or veteran, chances are they will answer yes.
[47:35] The way real estate agents get paid is changing. At the same time, under current law, the veteran is not allowed to pay the REALTOR®’s commission. It will take creativity to figure out win-win solutions.
[49:12] The Military Relocation Professional (MRP) Certification Course from NAR never expires. Jimmy Vercellino teaches the all-day course. Agents that have attended it felt like they were more equipped to speak the language of active-duty service members.
“[The relief of hearing your language in a foreign land] is the same thing that exists for veterans and active-duty service members when they have a REALTOR® who speaks their language; somebody who understands BAH, BAS, COE, DD-214, EAS, all of these types of things.” — Jimmy Vercellino
“You don’t want a mortgage originator who dabbles in VA Loans. … They haven’t been properly trained and … we don’t want to subject our buyers or veterans to somebody who doesn’t understand the VA Home Loan Benefit and, could delay your on-time arrival.” — Jimmy Vercellino
“The only time I don’t recommend a veteran consider a VA Loan is when they’re putting down 100%.” — Jimmy Vercellino
“I tell my agents to be teachers; to bring the good word of VA Loans to veterans and active-duty military. As I said … VA doesn’t teach it, mortgage lenders don’t understand it, therefore, veterans don’t know it.” — Jimmy Vercellino
Jimmy Vercellino on YouTube
NAR Resource Links
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Learning.REALTOR — for NAR Online Education
Training4RE.com — List of Classroom Courses from NAR and its affiliates
CRD.REALTOR — List of all courses offered
The MRP Certification Course from NAR
Monica’s Facebook Page
My name is Jimmy Vercellino, and I am a proud veteran of the United States Marine Corps and Operation Iraqi Freedom. I was born and raised in the San Francisco Bay Area, but at the age of 18, I made the decision to defend my country and leave home by enlisting. During my time in the Marine Corps, I traveled across the world visiting countries such as Japan, Korea, Thailand, Australia, and Singapore, and Fallujah, Iraq. I am a veteran of Operation Iraqi Freedom.
I met my beautiful wife Sylvia while stationed in Kaneohe Bay, Hawaii, and we decided to relocate to Arizona in 2005 and get into the mortgage industry. I had a hard time transitioning from military to mortgage. I devoted myself to the Veteran and active-duty home buyers and their families here in the Phoenix area. I went all in, I started educating real estate professionals and veterans about how the VA Home Loan Benefit works. Today, I’m fortunate because I get to serve veterans all across this great nation. I lend in all 50 states. My mission was to serve all veterans and active-duty military as a trusted advisor for all their VA Home Loan financing needs. I have always had great love, respect, and admiration for veterans who have served the United States and I wanted to give back.
Now, I have risen as one of the country’s top VA Home Loan mortgage originators. Being a licensed and certified instructor with the Arizona Department of Real Estate, I proudly teach continuing education for real estate professionals in the Valley. It is my passion to partner with servicemen and women every day to help them find the home of their dreams in the country they call home.
I now live in beautiful Phoenix, Arizona, and enjoy spending time with my wife Sylvia, daughter Sylvia Ann, and son Christian.