Posted on Jan 22, 2020
We just got our credit score up. Who should we talk to next to go through the VA loan process?
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VA Loan
Loan Officer
VA Loan Loan Officer
Posted 5 y ago
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Are you trying to purchase a home? Be aware that if you are trying to buy a house using the VA loan you should know the following:
1. Using the VA loan is the most expensive way to purchase a house. Why? Because it allows you to buy the house with $0 down and most likely you’ll sign for a 30 year loan. So by the time you finish paying for the house you’ll pay triple the amount.
2. You should wait until you are in your final years to purchase a house. Why? No one ( most people) lives in the same house for 30 years. You’ll have problems selling the house. People always say, just sell it. It’s hard to sell something and break even.
2. If you really want to buy a house. Save for 20% of the down payment. Have no debt. No car payment, no credit cards, NO DEBT. and sign for a 15 year loan.
People often think that owning is better than renting because mortgage tends to be lower than your monthly rent. While that’s true, when you rent, you don’t have to worry about a broken AC, heater, broken pipe, etc. So my advice to you would be don’t rush buying a house. Get yourself ready before making the BIGGEST purchase of your life. If you make only a 3% mistake on a $200,000 house that equates to $6,000 dollars. Get rid of debt, save money, and then buy a house. But these are just advices. Do what you think is right. Best of lucks.
1. Using the VA loan is the most expensive way to purchase a house. Why? Because it allows you to buy the house with $0 down and most likely you’ll sign for a 30 year loan. So by the time you finish paying for the house you’ll pay triple the amount.
2. You should wait until you are in your final years to purchase a house. Why? No one ( most people) lives in the same house for 30 years. You’ll have problems selling the house. People always say, just sell it. It’s hard to sell something and break even.
2. If you really want to buy a house. Save for 20% of the down payment. Have no debt. No car payment, no credit cards, NO DEBT. and sign for a 15 year loan.
People often think that owning is better than renting because mortgage tends to be lower than your monthly rent. While that’s true, when you rent, you don’t have to worry about a broken AC, heater, broken pipe, etc. So my advice to you would be don’t rush buying a house. Get yourself ready before making the BIGGEST purchase of your life. If you make only a 3% mistake on a $200,000 house that equates to $6,000 dollars. Get rid of debt, save money, and then buy a house. But these are just advices. Do what you think is right. Best of lucks.
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Call Quicken loans or Rocket loans (same company) they did my refi and it was all on line and really fast and they are good to Veterans. My refi was fast and I went from a 5.25% to a 3.25% 2 whole points mt mortgage went from over $1200 a month to $879 a month I pocket three benjimins a month and they came to my house for the closing. Make sure you have your COE (certificate of eligability). I had their card around here somewhere but I can't find since wife cleaned up offiice but you can google them. I replied to a question like this I hope it wasn't this one!!! Good luck.
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Find a good loan officer who is familiar with the VA process. Sgt William Kelley did my loan (first time home buyer) and was super helpful and responsive during the whole process.
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