VA Homes: AWOL

ANTELOPE (CBS13) -- "Yeah, it needs a little work doesn't it? Yeah a little bit," Derrik Pierce tells his realtor while they look over another empty house.

The former marine gets the hang of what to look for when house hunting. He should, this Antelope house for sale is about the 30th property he's toured during his two month search.

His mission: buy his first home through the VA loan guaranty program.

"I was really optimistic about it because I wanted something that I could call my own."

But it hasn't been easy. He's enduring a battle realtors say too many vets are fighting -- the ability to fairly compete for a house.

"Now I'm skeptical every time I walk up to a house," he says.

There are some disadvantages of using a VA loan to buy a home. Veterans who qualify for the VA home loan program face stringent housing guidelines; the house must be free of major repairs.

The problem is most bank-owned houses and short-sells have at least some damage and that can't happen with a VA purchase. And the house usually costs the veteran more because the sellers must absorb the cost of repairs to get VA approval, as Derrik found out.

"I put an offer in higher than the listed price to try and compensate for the VA loan dilemma and I still lost the offer," he bemoans.

Realtors say selling agents would often rather deal with cash, conventional or even FHA loans before looking at a VA loan offer. The home Derrik wanted is still on the market.

"I feel like the hard work that me and countless others have put in to keeping the country the way it is only gets you so far after you get out of the service."

Despite this house not meeting Derrik's needs he marches on in the quest for the American dream.

"I'm really looking forward to that feeling, if I ever get to it, when I get to it. I've got to stay positive… As soon as I walk in that front door, it's going to be a rush of ideas of what I can do to the house."

Despite some of the downsides of buying a home with a VA loan, one Antelope family says every time they pull up to their new home they say it was totally worth it.

Samantha Myers is holding her two year old son Elijah and still can't believe she and her husband Jeff are settling into their first home.

"We put offers in on three homes, three homes and one that we fell in love with just one week prior to actually getting our home… for this home, everything fell into place perfectly and I believe the prior owner was a veteran."

A former Air Force communications specialist, Jeff met his wife at church while studying to become a registered nurse.

"We were together for five, six months," Jeff recalls. "Our first kiss was our wedding day."

Five years later the Myers moved to northern California with the goal to live near family. They also needed programs that catered to their special-needs child.

Today they've accomplished both and are grateful to the VA loan program.

"For any veterans I think it's a great opportunity and just a lot of patience and sticking it through if they choose to use that route," he says. "It is a way a lot of people can get into homes that may not otherwise be able to."

The VA loan requires little or no down payment, it's easy to qualify, and buyers aren't required to have PMI mortgage insurance; and that's savings that can add up to hundreds of dollars a month.

Nearly three months in their new home they finally feel like a weight has been lifted.

"It just gives you a feeling of peace to be by surrounded by family that supports you," says Jeff. "It's really like finally can breathe instead I was feeling displaced… I love it, couldn't ask for a better place, we feel blessed to be here."

Meanwhile, Derrik is still looking for the perfect home and says, thankfully, he's in no rush.