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Thread: VA Loan

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    #1

    Question VA Loan

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    Did you use a VA loan when you bought your house? Why or why not?
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    #2
    nope.

    you have to pay a fee with the VA loan. with my credit, 20% down, and paying a point on a conventional, we got a better interest rate
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    #3
    We did because we didn't have money to put down I wish we had a down payment because we have really good credit We did get a 5% interest rate so I'm happy with that.
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    #4
    Yes because we got a lower rate and 0 $$ down. We've used the VA Loan twice now.
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    #5
    Yep...because we got a lower rate and less down.
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    #6
    we've used it twice. We did it because they would provide 110% funding, meaning we could finance our closing costs, as well as not having to put money down.
    We also got a better rate with VA.
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    #7
    Yeah, we don't have that much for a down payment so I'm thinking of using VA.

    So if I'm understanding the website correctly you find a house first, then put in an offer with a va loan clause, then go to the bank?

    Sarah, how did yours work with new construction?
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    #8
    Quote Originally Posted by instant_oatmeal View Post
    Yeah, we don't have that much for a down payment so I'm thinking of using VA.

    So if I'm understanding the website correctly you find a house first, then put in an offer with a va loan clause, then go to the bank?

    Sarah, how did yours work with new construction?
    We used ours for new construction as well. You can get pre approved for a VA loan. We made an appointmen with out mortgage company, got the pre approval, then met with the builder about getting started.
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    #9
    nope, we got a better interest rate with a usda conventional loan
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    #10
    Please remember it's not a LOAN from the VA, it's a Loan Guarantee. You still have to qualify thru a bank or mortgage company....

    My little Loves!
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