I invest heavily in this area as an agent.

My guess (as a licensed agent with 15+ years of experience) would be that it won't be a covered loss but again that's just a guess.

I'm a first time buyer.

I'm a real estate agent part time to help collect some extra cash to pay down debt and invest in my first property.

I am not an agent, and while I know many in Cincinnati, it is not likely worth my time or yours to connect you without knowing more about what you are trying to achieve.

My name is Patrick Griffith and I am an agent/investor in La Crosse, Wisconsin.

The person you spoke with may be referencing earnest money deposit (buyer showing the seller they have skin in the game; this can be refundable or non refundable).Some lenders require an application fee (junk fee) and those lenders typically are more expensive to begin with.

Real Estate Agent?

Make connections with lenders, contractors, agents, investors, and mentors to acquire valuable information.

@Hans Baum Seller can potentially lose that portion entirely if new buyer goes into foreclosure or short sale, so most who will even consider an assumption usually require a buyer who can go through proper VA assumption process and substitute their entitlement.