Have you ever used a VA Home Loan?
358549
VA loans are basically just normal loans. They must be obtained by a mortgage company that deals with VA loans, but most, if not all, do.\n\nThere are benefits and negatives to VA loans:\n\nBecause they are secured by VA, there is generally no PMI insurance required even with no money down loans.\n\nYou don't need to put money down, and all the loan fees can be rolled into the loan.\n\nThe interest rate is the same as any other loan, since it is basically a regular loan with VA backing.\n\nThe appraisal must be done by a VA inspector, and generally, the appraisals usually come in much lower than a non-VA appraisal. They are more picky, and don't work very hard to get a higher appraisal.\n\nIf you want more specific information, you can contact your VA office and they can lead you in the right direction.
1082974
My husband and I were truly blessed we we bought our home. There is a program called Ameridream and if you are a first time homebuyer or a minority, the government will cover your downpayment. No gimmicks or paypacks. It was awesome. We saved 5k on the downpayment. We got an interest rate of like 6% and if we did a 80/20 the rate would have been 7.5%.
55485
If you're leaving the military after 8 years, you wouldn't receive any permanent benefits, but you would be eligible for the VA Home Loan and for the GI Bill. Also, as others have mentioned, you may be able to receive monetary benefits from the VA if you have a disability from military service.
795310
This a question I get all the time and the answer depends on the person and their credit to begin with.  Do you have credit accounts now?  Are you close to the limit on any of the accounts?  With ALL of your credit accounts the best scores come from 35% of your credit line or less.  Once you go above 75% you really start to take a beating on your credit score and over the limit just about kills it.  Should you be in the upper end of your credit accounts it would be best to stay at home and pay down all of your accounts.  Pay down the highest interest rates first then work your way to each account.  \nYou don't have any credit accounts?  Get some but not store accounts, get true credit accounts like Master Card or Visa.  Even consider doing a secured credit account with one of them if your credit is not established yet.  You will need a min of 6mo's of reporting to really build your credit score.\nNow to your VA loan you have my utmost respect and Thanks for serving in our military.  \nYou must have a clean credit history of 24mo's before the VA will allow you to use your VA status.  That means no lates, no judgments, no liens and no BK's in the past 24mo's.  You can have min credit with VA just not bad credit or late pays.  \nWell I have rambled on so if you have any questions please e-mail me back and I will be happy to answer them for you.\n\nBest of luck,\nGregg
406947
Oh!  Another dragonfly!\n\nNo I haven't used them, and yes, I'd be worried about all of that data because you don't want a bunch of bozos pulling your credit report and driving your credit score down.  I used CTX Mortgage and they were good.  They are their own lender so their margins are bigger than many banks because they are lending out their own money.  Or try www.naca.com if it's your first home.
1026087
Check out the VA's formulary.\nIt's not the most user friendly, but hopefully, what you need.
134361
what r u tring to say  (hause)  house.  no you can only use the interest from your loan
1009135
You may be able to borrow some from your IRA account but I would not recommend it.  Typically it would be for a home purchase and not home improvements.  Honestly I am not certain so you may want to take a look at publication 590 from the IRA that details out the rules for the IRA in plain english (which helped me quite a bit!)
133645
I would talk to a lender and see what you pre-qulaify for as a first step. Sometimes lender can combine a first and a second for a 95% loan.\n\nAre you a vet, if you are you could be approved for a 100% VA Loan.\n\nSome cities have programs that can assist. Check with your local community to see what may be avialable.\n\nSave per month, do not charge a bunch of accounts new cars, charge cards, this will impact your FICO score.\n\nBe determined and cntinue to learn about the local market.\n\nPerhaps you may wish to line up with a good agent.\n\nBest to you.\n\nps. I bought my first house for $8,000 at age 23
595122
There is no "VA" home loan per se.  The program is a guarantee by the federal government to lenders that says the government  will pay  your loan off if you default.  \n\nThere is a maximum amount but I forget what the amount is but I would guess $225-$275K or so.  \n\nIt makes lenders feel confortable making the loan knowing they will get paid back if for some reason, you are not able to meet the terms of the note.
1022909
Your credit score is not the issue. You do however NEED to pay off all collections and write-offs to convince VA to invest in you.\n\nSometimes the money for these pay-offs can come from:\n\n1) the money you bring to closing; and\n2) a corresponding increase in the loan amount provisioned to clean up delinquent and unpaid items.\n\nHowever, remember, if you act crazy with a VA loan and don't pay your loan after six months, that bank won't mind foreclosing on your house, because VA insures that loan since you are/were in the military.\n\nVA will pay the loan, thus the bank will get their money. VA, in turn, will evict you since it will have title to the house, and sell the house to another deserving military person.
1056618
Call the VA or visit their web site.  You should qualify for a loan.
1159268
you can offer anything you like.   And no you cant use your VA loan to purchase rental property. Its for your primary residence only.  Just keep that in mind Big dog.  Now  as for the offer. If I asked for 477K and you offered me  417,  I would assume you arent serious.   And move on to my next offer.   But thats just me :D
1182257
good luck trying to get one..\nhold off on another loan; work to pay off your current ones as of now..
1118077
A Veteran's Administration, or VA loan, is the same as any other loan and made by the same lenders who make other loans.  The VA only guarantees that whoever makes the loan is safe and cannot lose money in the event that you default on the loan.  It is the same as any other mortgage, whether FHA or conventional.  VA does make it possible for the borrower to not make a down payment when purchasing a home.  Eligibility requirements of honorable discharge, length of service, etc; must be met by the borrower.  Credit worthiness is the same as any other type of loan.  You cannot have an unlimited amount of VA eligibility; it varies by region.  There is a dollar ceiling on how much borrowing is allowed per veteran.  A VA guaranteed mortgage can be repaid and the borrower's eligibility is renewed up to that dollar amount.  Otherwise, it is just like any other mortgage.
318074
Real Estate agents just want to sell you the house.  The mortgage lenders are the ones that may or may not be able to do VA loans.\n\nThe Real Estate agent WILL need to know that you are doing a VA loan so that when they do the offer/contract, they can notify the sellers that they need to pay some of the closing costs that the VA require.
1105169
I heard VA hospitals are much better than they use to be.\n\nGood luck and good health.