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Zillow now includes Veterans Affairs loan eligibility in condo listings, making it easier and faster for veterans to find a condo they qualify for
SEATTLE, July 7, 2022 /PRNewswire/ — Home shoppers who are military veterans now have a simpler way to shop for condos that are eligible for Veterans Affairs (VA) loans. Today, Zillow announced that condo listings on its site and apps will include information about the home’s eligibility for a VA loan. This new Zillow feature is designed to help the 19 million veterans who are eligible to fund their home purchase using a VA loan.
Many home shoppers are not aware of the additional requirements that must be met for a condo to be eligible for a VA loan. Zillow’s new feature takes the guesswork out of the process for shoppers using VA financing for their home purchase allowing them to immediately see if the condo they’re interested in is VA-loan eligible. Before this tool was available, most shoppers had to toggle between their search on Zillow and the VA website to confirm financing eligibility on every single condo they were interested in, adding unnecessary complexity and time to their home search.
With this new tool, veterans shopping for a home are saving valuable time in a hot housing market, where speed and access to accurate information is increasingly important in the buying process. Recent Zillow research shows that homes sold in April typically went pending after only seven days — a dramatic acceleration in the market over the past few years, following the COVID-19 outbreak. For perspective, in April 2019, the typical home was on the market for 24 days before an offer was accepted.