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Pretty self explanitory, Has anyone here used the VA to buy a home? If so, was it a pain and is it worth it?
VA Loan
Loans
Department of Veterans Affairs (VA)
Posted >1 y ago
Responses: 227
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I'm currently attempting a refi to combine debts, lower my monthly payments etc. The company I'm working with has had me jumping through one hoop after another to include the termite inspection, which really was the less painful of all the processes. I paid for that and for an appraisal, even though I had the property appraisal in the summer of 2019. Before the appraisal could happen, the Loan company said that VA wouldn't close on a refi until April 5th, 2020. Ok, I can wait... However, the termite inspection expires after 30 days, I'd have to have it done again and the Loan Co said to wait on the appraisal too. Do I get a refund of the money I paid for the appraisal? Oh yes, sure.
So, this all started Jan 2nd and 20 days later, I'm no closer to finding out if I am qualified. :( I tried to call VA but the person I spoke with said that the Loan Co Dictates the progress. I'm a little overwhelmed. Does all this sound normal to you?
So, this all started Jan 2nd and 20 days later, I'm no closer to finding out if I am qualified. :( I tried to call VA but the person I spoke with said that the Loan Co Dictates the progress. I'm a little overwhelmed. Does all this sound normal to you?
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CAPT Victor Malone
The VA requires 210 days from first payment and 6 payments made before you can refi. This lender should have known that before they started the process, that is why it is so important to work with a VA lender that is knowledgable on the current VA guidance, which came out last summer.
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SPC Joy Moore
CAPT Victor Malone - Thank you Capt Malone, I've been on the phone with USAA for About an hour going over many of the changes and they are definitely more knowledgeable than the Loan Depot. Thanks again for the reply.
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It's a pain for me because I happen to live in a condominium complex where the majority of units are non-owner occupied and are rentals so even though I am a veteran, I can't use my VA Benefits for a VA Loan
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I just obtained my certificate and my credit isn't that good. My question is that is it even possible to still get a home then?
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SGT Lenise Hamilton
Depending upon how low your score is, if you have a very low score, you might want to work on your score. Try to get your score above 699 or better, then, you'll have a better
APR rate for getting a mortgage payment that will not choke you half-to-death.....
APR rate for getting a mortgage payment that will not choke you half-to-death.....
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Yes, I used it a few times, it's pain free (the lender will do all the paperwork) and will save you lots of money!
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CAPT Victor Malone
Yes it can. Most banks won't lend on a manufactured home, but there are plenty of wholesale lenders that will finance them. Talk to a local independent broker for details.
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I have an odd question. I just purchased a home with my VA loan. The sellers did not disclose a flood or mold infestation. I am currently in litigation, but is there anything the VA can do to help me? Do you know who I can contact?
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SGT Lenise Hamilton
What happened with your VA inspector, were they asleep during your inspection? Get in touch with the VA and tell then about your issue, also, ask they if they have anyone on board that's has legal experience with the law, if not, see if you can get a lawyer that takes pro-bono, it would have to be a real-estate lawyer, depending on how long you've had your property, you may have some headway to get some compensation from the seller. It's really worth looking into, you may come out on top. Good Luck :-) .
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CPL Gwen Tegtmeier
SGT Lenise Hamilton thanks. I do have a lawyer. I read though that va inspectors have some sort of insulation and can’t be sued. I have a lawyer but he is unsure if the previous owners have assets (that aren’t hidden). I also want to mention we were forced to move so now we’re just paying on an empty structure that has to be torn down. I just don’t know who to even call at the VA
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SGT Lenise Hamilton
Hello CPL Gwen, I'm so sorry to hear about your mishaps. I'm not for sure within the VA if they even have a representative that would even extend a hand of ideas to overcome this situation. The only thing I can suggest is if you're a facebook user, get logged on and explain your situation, "put emphases on your a veteran", and that you need some immediate help, often times the public is really sensitive as to how we've been treated. Who knows someone may respond that have extensive experience in the legal real estate field to include the law enforcement field that works as a (PI) private investigator that may be able to get the information needed to help get your issue resolved in some type of manner. It's worth a try, you have nothing to loose. I pray that someone comes to your rescue and resolve this matter immediately. Good Luck! and remember to put emphases on you being a veteran, that's the key okay.....
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I used it many years ago and found the process simple and easy to complete. In most cases the Loan Officer will do most of the work. In fact I sold my last house to a Vet and the closing was very simple and quick.
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I am only 70% rated and haven’t worked since January 2018. I’ve rented the same apartment for 10 years come May. It’s tiny and I need more space for myself and my family. 4 of us. Are there programs that help with loan approval?
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SGT Lenise Hamilton
I think the name of the company that helps veteran, is called Veteran United Home Loans, look on the internet at some homes and it should pop-up when you hit the option of Veterans. Good Luck :-) .
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