Veterans have a hard time securing home loans, even when they are very attractive borrowers. How can we equip loan officers to help veterans achieve the dream of owning a house? What are some of the myths and misconceptions that get in the way of veterans securing loans? Why is there a lot more to success than making money? On this episode, we talk to Ross branch manager, and president of Military Mortgage Boot Camp, Michael Fischer, about how we can constantly raise the standard of the service we offer, especially to the people who deserve it most.

Veterans get a raw deal in the real estate market because their offers are viewed as inferior. -Michael Fischer

 

Resources

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Three Things We Learned From This Episode

1. Why success isn’t just about money (03:11 - 05:16 )
   A lot of people think that success is just about making more money, but success is also about having balance. A big win doesn’t always necessarily have to be income. Sometimes it’s just a matter of being able to achieve a better life and make a difference.   
   
   
2. Why the challenges veterans face have little to do with guidelines (15:52 - 16:40)
   It’s important for agents who want to help veterans to understand the challenges they are facing in the marketplace. The issue isn’t guidelines. There’s a lack of knowledge and understanding from real estate agents and even other loan officers. This results in issues like blaming the VA for slow turn-around times, and putting the veteran’s offer at the bottom of the pile because it’s viewed as inferior.  
   
   
3. The truth about veteran buyers that many agents and LOs don’t know (18:37 - 19:30)
   The average veteran buyer is actually a very decent borrower, and this is something agents need to know. If a seller is going to net more money and close in the same amount of time (or less) than they would with any other offer, it makes sense to move the VA offer to the top of the pile.  

Sometimes being successful isn’t about the money or all the conventional, surface-level stuff. One of the most powerful things we can do in business and in our lives is to be of service to our clients and put them first. This is especially true for veterans. If we really care about veterans, the best way we can give back to them is being really good at our jobs. We have to arm ourselves with knowledge and facts to dispel the myths that make veteran loan applications go to the bottom of the pile. The average veteran home buyer has a decent credit score, money in the bank, and not a subprime borrower. If agents and loan officers know this, they can really be of help.  

 

Guest Bio-

Michael is a branch manager at Ross Mortgage, president of Military Mortgage Boot Camp and founder of the Mortgage Loan Officer Network. Go to https://www.facebook.com/militarymortgagebootcamp/ and