Military Significant Others and Spouse Support - MilitarySOS.com
Page 1 of 2 12 LastLast
Results 1 to 10 of 15

Thread: VA loan

  1. So lost and wandering.
    Icryinbaseball's Avatar
    Icryinbaseball is offline
    So lost and wandering.
    Join Date
    May 2008
    Location
    Fort Lewis WA
    Posts
    5,563
    #1

    VA loan

    Advertisements
    Is the VA loan process a fairly smooth one?? for those that have used a regular loan and a VA loan was the VA easier or harder process?
  2. Senior Member
    ArmyCupcake's Avatar
    ArmyCupcake is offline
    Senior Member
    Join Date
    May 2008
    Location
    PA
    Posts
    12,076
    #2
    Yes, very straightforward. i believe the only difference is the appraisal required by the VA, but that's no big deal.
  3. So lost and wandering.
    Icryinbaseball's Avatar
    Icryinbaseball is offline
    So lost and wandering.
    Join Date
    May 2008
    Location
    Fort Lewis WA
    Posts
    5,563
    #3
    Yeah I am reading that they are very picky about houses.
  4. Senior Member
    ArmyCupcake's Avatar
    ArmyCupcake is offline
    Senior Member
    Join Date
    May 2008
    Location
    PA
    Posts
    12,076
    #4
    They could be if you are choosing a fixer upper. Our house is 10 years old and in good shape so there was no issue.
  5. So lost and wandering.
    Icryinbaseball's Avatar
    Icryinbaseball is offline
    So lost and wandering.
    Join Date
    May 2008
    Location
    Fort Lewis WA
    Posts
    5,563
    #5
    I wanted a fixer upper. But given the guidelines and the turn around time we are looking at something that doesn't need anything done. We need a house ASAP.
  6. Quis custodiet ipsos custodes?
    Tojai's Avatar
    Tojai is offline
    Quis custodiet ipsos custodes?
    Join Date
    Sep 2009
    Location
    St. Pete FL
    Posts
    30,026


    #6
    We used a VA loan for both of our home purchases. My understanding from what our lender was telling us was that there can be more contingencies on a VA loan vs. a traditional loan. The VA will send someone out to appraise the home and make sure it meets their lending requirements. The first house was no issue but I remember a termite inspection was a big deal (I would have done one anyway, but it was required for underwriting) ... this can vary by state.

    The second house was a bit more of a pain because they had some at-risk things about the house that the termite inspector found (form boards weren't removed, shrubs needed to be trimmed back) and the sellers fussed about accommodating them. In the end everything worked out though.
  7. Senior Member
    BLBnJVB3's Avatar
    BLBnJVB3 is offline
    Senior Member
    Join Date
    Feb 2006
    Posts
    9,331
    Blog Entries
    1
    #7
    We've used the VA to buy and then the people that bought that house used VA. It was pretty easy but being on both sides, it was easier on the buying end than the selling end. We also own a house that we used a conventional loan with. That one was also easy...maybe a tad easier and quicker than the VA.
  8. Pour a little salt, we were never here
    [his] lobster's Avatar
    [his] lobster is offline
    Pour a little salt, we were never here
    Join Date
    Jun 2012
    Posts
    8,737

    #8
    The VA process wasn't terribly hard, but I didn't find it easy. We lost a house because the appraisal came back low, the bank (it was bank owned) didn't budge and we didn't want to come up with the cash difference.

    For the house we ended up in, the only sticky part was that we are on a well, and there are some VA specifics with that. It has to pass extra water testing, and if it is shared, there must be a written, documented agreement about well use/repair.

    We did look at houses that we would have been fine with, especially since DH excels at DIY but the VA wouldn't approve them. One house was totally complete except a ceiling fan had been removed and they hadn't put plastic caps (that you can get at Lowe's for like a few cents) on the wires. We asked our realtor to contact the selling realtor to do that and make it VA approvable, and the selling realtor refused
  9. Senior Member
    BLBnJVB3's Avatar
    BLBnJVB3 is offline
    Senior Member
    Join Date
    Feb 2006
    Posts
    9,331
    Blog Entries
    1
    #9
    Oh and the house we bought using the VA was a short sale. Our offer stopped the foreclosure process. We did work to te house like replaced every single bit of flooring, gutted both bathrooms, refinished the sunroom, tore down the fence...we would have put one up but we decided against spending that money since the HOA was strict on what fence they'd allow and their approval process. We also put in all new appliances, which stayed with the house when we sold it...including the washer and dryer, sanded and painted the kitchen cabinets, new counter tops, painted every single wall and ceiling, had those termite things installed and pest control come out 3 times a year, new gutters, replaced the water heater, all new windows and doors, and took down a couple trees as well. This was all over the course of just shy of 3 years.
  10. So lost and wandering.
    Icryinbaseball's Avatar
    Icryinbaseball is offline
    So lost and wandering.
    Join Date
    May 2008
    Location
    Fort Lewis WA
    Posts
    5,563
    #10
    Thank you for all of your input. The process scares me as I have never bought a house before. I am really close to just looking for a rental and leaving it at that.
Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •