Posted on Aug 19, 2021
How accurate are tools like the VA Disability, Home Loan and Housing Allowance calculators?
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Posted >1 y ago
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Posted >1 y ago
Disability and housing allowances are usually pretty spot on, depending on which one you use. Home loans, though.... WAY to many variables. Most people think a VA loan comes from the VA and one is the same as the next. Not at all true. VA simply guarantees the loan, it still comes from a bank, and banks can do all kinds of things with rates and fees. *If* you find a comprehensive loan calculator that allows you to input multiple variables - fees, closing costs, rates, points, down payment, zip code (to calculate taxes), insurance premiums - then it will probably be pretty close. But *any* home loan calculator that allows for all of those inputs will be accurate, it has nothing to do with VA loan.
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SMSgt Henry Kiester
>1 y
Let me add one more variable - some counties (like mine) give a property tax discount if you have a VA disability rating (good thing). So SFC O'Mally is right - plenty of variables!
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