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  • VA Home Loans

    Hey all.....anyone Vets here ever used a VA Home loan to purchase a home? My wife and I are looking at buying a home and were wondering if it was worth looking into. Any info is appreciated.
    Why are there so many babies on O.com? Creole, you and your buddy JPSO Recruit help me out on this one....

    * "Preach always, if necessary, use words!" St Francis of Assisi

    * Luke Chapter 6, Verses 27-36

  • #2
    Beats the hell out of that morgage insurance.
    Kelly

    We are the thin blue line
    between you
    and all the money in the world.

    And no you can't have any.

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    • #3
      If you are looking to purchase a home in Virginia, especially Nothern Virginia, you're in for a loop.

      There are brand new single homes that are literally right in front of a busy highway with a lot of rush hour traffic starting at $900,000. For a decent townhouse, you're talking over a half a mil.

      The housing market is ridiculous. A friend of mine who is moving to the west in a month or so is putting her 13 year old single family home for $700,000.

      Some people commute 50+ miles from home to work because they can't afford to live near their jobs. It's unbelievable.

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      • #4
        Originally posted by umtkny
        If you are looking to purchase a home in Virginia, especially Nothern Virginia, you're in for a loop.

        There are brand new single homes that are literally right in front of a busy highway with a lot of rush hour traffic starting at $900,000. For a decent townhouse, you're talking over a half a mil.

        The housing market is ridiculous. A friend of mine who is moving to the west in a month or so is putting her 13 year old single family home for $700,000.

        Some people commute 50+ miles from home to work because they can't afford to live near their jobs. It's unbelievable.

        I think he was referring to Veteran Home loans........But I've lived in VA and know what you are talking about.

        TGY
        Disclaimer: The writer does not represent any organization, employer, entity or other individual. The views expressed are those only of the writer. In the case of a sarcastic, facetious, nonsensical, stirring-the-pot, controversial or devil's advocate-type post, the views expressed may not even reflect those of the writer [This sig stolen from Brickcop who stole it from Frank Booth].

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        • #5
          I used mine and it was very helpful. No mortgage insurance required. No down payment necessary. It saved use a decent amount of $.
          Two people can keep a secret if one of them is dead.

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          • #6
            Originally posted by That Guy
            I think he was referring to Veteran Home loans........But I've lived in VA and know what you are talking about.

            TGY
            My doctor told me I needed glasses........never mind!

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            • #7
              I believe the biggest benefit is the lack of a downpayment. There are also some limitations on the closing cost. Keep in mind that if the seller has to cover some of the closing cost they will make it up in the actual selling price.

              The lack of mortgage insurance also is a big benefit. Anyways here is a link you may want to take a look at. You'll probably want to call your local VA office and pay them a visit. I've found my local office to be very helpful (definitely didn't conform to the usual stereotypes about dealing with the federal government).

              http://www.homeloans.va.gov/VAP26-4.htm
              I know I should feed the trolls but it is just SO hard.

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              • #8
                Big help, I even recivied 250.00 back at closing, you cant beat that.

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