Service Members and Veterans Offered Free Seminars From District Realty Team to Help Them Use VA Loans for New York City Housing
75 percent of Available Housing in New York City Not Eligible for VA Loans
NEW YORK, November 13, 2019 (Newswire.com) - During this week dedicated to honoring veterans, the District Realty Team – which specializes in New York City and Hudson County, New Jersey property sales – introduced a free program for veterans to give service members and veterans guidance on using Veterans Administration (VA) loans for housing in New York City.
The free workshops are exclusive to service members and veterans and aim to help them navigate the complexities of the real estate market as it relates to cooperative apartments in New York City. In fact, VA loans do not apply to about 75 percent of available housing in the city. The workshops show participants how to get started and how to determine what they can afford, how to utilize DD214 forms, and general guidance through the buying process.
And District Realty, with more than 20 years of experience, has gone one step further in helping to permanently resolve existing inequities in the VA loan program by launching an online petition. The Fulfill America’s Promise of VA Loans to New York City Veterans Petition urges New York Governor Andrew Cuomo, New York City Mayor Bill de Blasio, Congressional Representative Max Rose and New York State Senators Chuck Schumer and Kristen Gillibrand to take action to rectify the situation.
“The men and women of our U.S. military are entitled to VA loans. They should not be discriminated against here in New York City because the program did not account for the particulars of certain real estate markets. District Realty Team has jumped in with short- and long-term solutions to help. Our seminars can provide guidance on owning a home here, and through the public’s support for our petition, we can reverse roadblocks for veterans for good,” said Patrick Gobin, one of the founders of the District Realty Team.
The VA loan problem came to light when Gobin and Jason Nadeau, co-founder District Realty, offered to help a friend of theirs, who is an Army staff sergeant and was encountering barriers in trying to find a home for his family in New York.
“When we jumped in to help, we soon discovered the significant barrier he was up against in his house hunt. Buying real estate in New York City is unlike in any other market. And the VA did not factor those unique intricacies into the VA loan program. As a result, the VA is inadvertently limiting housing opportunities for the very people they are set up to serve,” said Nadeau.
Co-ops are generally the entry point for buyers in the five boroughs that comprise New York City – costing, on average, about 25 percent less than standard properties, explained Gobin. Yet VA loans do not cover the vast majority of cooperative apartments in New York because of the fine points defining this form of real estate, which do not align with VA program parameters.
The District Realty Team is a full-service real estate business specializing in Manhattan, Brooklyn and Jersey City properties. With 20 years of experience, they offer a boutique, white-glove approach to clients to help them to be successful in their home buying and selling experience in the fast-paced real estate industry.
To register for a workshop, click here. To sign the petition, click here. To read the blog, click here. For more information, go to DistrictRealtyTeam.com or contact 212.480.2140 or firstname.lastname@example.org. District Realty Team can also be found on YouTube, Facebook, Twitter, Instagram and LinkedIn.
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Source: District Realty Team