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  • Writer's pictureGI Jo

Changes coming soon for VA Mortgage Loans for Military and Veterans

Hello and welcome to another glorious day ☀😎

Today I have my GI Jo Military Veteran hat on!

Reaching out to all my fellow military and veterans, if you are looking at purchasing a home, please note that VA mortgage loan changes are coming soon!

As a mortgage loan officer, I always encourage negotiating!

Agency: VA Effective Date: 08/10/2024


Temporary Local Variance for Buyer-Broker Charges. VA is authorizing a temporary local variance that allows Veterans to pay reasonable and customary amounts for any buyer broker charges (including commissions and any other broker-related fees), subject to the following:


a.       The home the Veteran is purchasing is an area where—


(1) listing brokers are prohibited from setting buyer-broker compensation through

multiple listing postings; or


(2) buyer-broker compensation cannot be established by or flow through the listing



b.      Buyer-broker charges are not included in the loan amount.

c.       Buyer-broker charges paid or to be paid by the Veteran are to be considered in determining whether the Veteran has sufficient liquid assets to close the loan.

d.      An invoice is not necessary to support the buyer-broker charge; however—


(1) The total amount paid, if any, by the Veteran is to be recorded in lines 1 through 3 of section H (“Other”) on the Closing Disclosure, and


(2) VA considers the buyer-broker representation agreement to be part of the sales contract package.


As such, VA expects lenders to upload the agreement as part of the package lenders use when requesting an appraisal.

VA also expects lenders to retain the agreement in the loan.


Effective Date. This Circular is effective August 10, 2024.

Important Information Related to Brokerage Charges.

a. VA encourages Veterans to negotiate the amount to be paid to their buyer-broker, whether

the Veteran or seller pays the amount.

b. The temporary variance announced by this Circular does not prevent the seller of the

home from paying for the Veteran’s buyer-broker charges.

c. As a reminder, VA does not treat the seller’s payment of buyer-broker charges as a seller


Please see attachment for more detail!

2024 0611 DAS VA announcement 26-24-14
Download PDF • 167KB
GI Jo Leaves No One Behind, VA Loans, Veteran, Military
GI Jo Leaves No One Behind

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