Recent updates to VA loan rules have introduced new guidelines affecting the real estate industry. While these changes have a broad impact, Central Texas feels the effects more intensely due to its substantial military presence.

Originally, veterans could not pay a buyer’s agent’s commission or fees through their VA loan. However, this rule has changed. Now, veterans will need to sign a written agreement with their buyer’s agent. This agreement will outline the services provided and include the agent’s fee as part of the closing costs, according to industry experts.

Homebuyers using VA loans might encounter new costs under these updated rules. Some buyers may need to cover additional expenses out of pocket, potentially requiring personal loans to manage these costs. Negotiation on agent compensation and payment terms remains possible, but it’s important to be aware of these potential financial changes, as noted by local real estate professionals.

There’s no need to rush into contracts under the new rules. The U.S. Department of Veterans Affairs is expected to release a permanent policy soon. This policy aims to maintain veteran participation in the housing market and ensure a fair and transparent process.

These new VA loan rules bring some adjustments and possible extra costs but also aim for a clearer and more balanced homebuying experience. Veterans should stay informed about these changes to navigate their homebuying journey effectively.