Posted on Apr 23, 2014
SGT Senior Warrior Liaison
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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?
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Responses: 229
SPC Anthony Smith
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Hey SGT Frazer,

Most lenders including myslef regard the VA Home Loan as the best possible program out there to get financing. If structured properly, there would be no money out of pocket and you would not have to pay monthly mortgage insurance which other programs require. There is some bad stigmas that come up from time to time, many from uneducated realtors in my opinion, regarding apprasals and terminte inspections. There are myths, the appraisal these days does not take much longer that other appraisals and the termite inspection is really something most savy buyers get done regularly anyway. Hope that helps, let me know if there are any other questions you may have.

Anthony Smith
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Abi Paulsen
Abi Paulsen
9 mo
To answer your question about Veterans United: I have not worked with them. I work with several other lenders who understand the VA process. The biggest factor is WHO you directly are working with. Your Realtor and lender must be listening and hearing what you are telling them. There should be ongoing communication regarding what will put you in the most stable position. If you start working with someone and the feeling isn’t right, then find someone else. This is the largest financial investment most people make. The person representing you and your family should be putting your needs first. CW3 Sandra Rivera
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Abi Paulsen
Abi Paulsen
9 mo
That’s right. An agent who is knowledge and willing to learn as things change is critical to a successful outcome. SGT Aaron Cordial
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Abi Paulsen
Abi Paulsen
9 mo
Sounds very frustrating. This definitely sounds like a communication issue. Getting educated on all parts of the transaction and what to expect is a key component. Documents should be provided to explain all projected expense you would incur. Looking at “Worst Case” scenario means you shouldn’t get any last minute surprises. SR Alan Fine
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SPC Alonzo Johnson
SPC Alonzo Johnson
29 d
Mr Smith I need help getting started can we contact each other please
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MSG Wade Huffman
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Understand that the VA is not a direct lender; they only 'guarantee' a portion of the loan to allow you to purchase with low or no down payment. Ensure you explore all options, the VA Home Loan Guarantee is not always the best rate available; especially if you are able pay a down payment.
You asked if it was a pain? Well, no more than any other mortgage! Good Luck in purchasing your home!
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CAPT Jim Coulson
CAPT Jim Coulson
9 mo
Especially if you lack a large down payment, the VA loan program is great. Like most things in finance, you need to forego "enthusiasm" and replace it with education. There are a lot of folks willing to take advantage of you, esp in the mortgage market. The best way to counter that is cross checking every fee and document you are presented. Also get bids from multiple mortgage companies and make sure each one knows you have competing lenders.
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SP6 Dick Brighthaupt
SP6 Dick Brighthaupt
9 mo
I completely agree, as a RVN Vet (Big Red One) and current real estate agent, VA loans are top drawer. I had a client who went that way and then checked with Navy Federal Credit Union. He went with them, he said faster and easier to deal with.
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SFC Dav David
SFC Dav David
9 mo
SP5 Mark Welch

So I'm 100% permanent & Total and would be using my very first VA Loan (2.3%) and if reduced by 1% is it feasible to get the loan at 1.3%?
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CW2 Wayne Franklin
CW2 Wayne Franklin
9 mo
had been getting an onslaught of 're-fi' offers.......in 2015, my VA home loan 206,000, is 3.75%/30 year fixed....closing costs were 6000 and rolled into the principal. insurance with USAA is $120/mo.
i did go the mile and engaged a couple times re-fi 'executive's.....to re-fi with new closing costs, there will not be an advantage til interest rate is less than 2.75.
or, have i not connected with the best executives?
comments?
thanks,
wayne
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SSgt David Dion
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Melinda - I served in the active duty Air Force, the Massachusetts ANG and have a service connected disability.  I am also a real estate agent in AZ and CA.  I moved to CA a few years back, started my home search about 2 years ago, planning on using my VA benefits.  I am a good agent, having sold close to 1000 regular residential homes for buyers and sellers since 2003.  You know what, not one full price offer using my VA benefits was being accepted.  You know what I did?  I started http://www.MVAREP.org - a nonprofit created to promote home ownership within the military and veteran community.  We have over 1100 members throughout the country.  Granted, I have a lot of things on my plate, and I have big plans for this organization to bring attention and resolution to this topic.  It is going to be a grass roots effort, focused on educating the real estate and home buyer and seller community...
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SFC Mark Merino
SFC Mark Merino
>1 y
SSgt David Dion We are in Tucson and interested in real estate but have questions re VA home loan.
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SSgt David Dion
SSgt David Dion
>1 y
SFC Mark Merino - just sent you a message with my email. I will help you, or find someone who has answers for your questions.
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Sgt Thomas Williams
Sgt Thomas Williams
9 mo
When I clicked on your link to MVAREP.ORG it came back stating site not found.
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SN Darren Nelson
SN Darren Nelson
9 mo
About to start looking for a house now. Have been renting for years. I am also a disabled vet. You happen to service the San Diego region? Thanks...
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