va loan?

Kendra - posted on 03/04/2009 ( 18 moms have responded )

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does any one know how the va housing loan works? were wanting to buy a house but have no clue were to start? help me plz!?!? my husband is in the ng and is a disabled vet!

18 Comments

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Donna - posted on 06/12/2009

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I am a realtor. call me I can help you...even though in a different state.. most of the time any mortgage person can help you.. does not have to be navy federal or other military credit union..the mortgage person can get your va eligibility certificate for you.. calll me I can get you in touch with the correct people 843-475-4150 you deffinently want to go VA if possible..as any loan you get a better rate by putting more money down.. you can put more money down on a VA loan than is reequired . just because they dont require it does not mean you cant do it if you have a larger down payment..some of the response here are not really correct or are missing information.. USDA loans have certain qualifications, not all houses qualify..a lot of areas do offer some assistance for a program called hometown hereos.. military, teachers, firefighters teachers emt ect.. qualify so there are alot of options that you can still take advantge of even though you go VA.. it is not an automatic approval, they are guarenteeing the loan.. too much info to write.. give me a call.. I might even be able to assist you with getting you in touch with a realtor and or a mortgage person..the USAA option is not as good as it sounds.. has to be a certain type of home etc.. call I can help

[deleted account]

If you are a member of USAA, they have an AWESOME homebuyers program for the lower 48 states! We used them when we sold our house in Utah, and they found our realtor for us, and because we used one they sent, they paid us after we closed. They do the same thing with buying, you don't have to use them for your mortgage to get the deal. Otherwise, your loan officer will take care of everything for the VA loan, as long as you qualify!

Kendra - posted on 04/03/2009

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wow thank you guys so much for all ur hellp! i want to atleast to start look within the next 4 months but i also want to take my time bc i dont want to pic the frist house i like! all yalll hellpd so much thanks!

[deleted account]

We recently just bought our first home and we learned something very important.  During the crisis we are in right now, we've learned that no lender, not even the VA will approve or guarantee a home loan if you have less than 1 year remaining on active duty status.   If you are retiring, they will only look at your projected retirement income.  The VA doesn't approve a loan, they will just guarantee a loan.  If you are a first time home buyer, there are still programs out there to help you.  Speak with your real estate agent.  They may have a contact that will work with you to find the best possible loan available to you.  The gal we worked with was able to secure us a State Veterans Grant of $5,000 to go toward downpayment, closing & other prepaid costs. Not every state has these, so definitely do your research.  All the bases should have assistance with learning about the VA loans and buying your first home.  Or go to the www.va.gov and click on the link for home loans.  I've also contacted the VA through email and usually have a pretty quick response as well.  Good luck!

Theresa - posted on 03/15/2009

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If you are also in a Military area most realators know the process and can walk you through it. We got our loan through our realator without having to go anywhere else. And we were pre-apporved before she could even print out houses to look at.

Meghan - posted on 03/13/2009

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Hi there is a really good loan from USDA for families that make under 40,000 a year look into that because w/ insurance and all your mortage payment every month is lower than it would be w a VA loan

Nicole - posted on 03/13/2009

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Hey there we bought a house last year in Nebraska and we were able to use the va loan and Nebraska's first time home buyers loan to get a better rate then with the va alone.

Misty - posted on 03/13/2009

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Do your research.  VA loans don't always have the best rate.  The benefit is that there doesn't need to be a down payment.  Also, your financing person should have information on how to apply.  If you have a down payment you might get a better rate by not using the VA.  We got a better rate by not using the VA loan.

Suzanne - posted on 03/09/2009

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I was actually wondering this myself. My husband and I want to purchase a home later on this year. I really appreicate the advice! Thanks!!!

Dawn-Marie - posted on 03/06/2009

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We are closing on our house on 23 March using a VA loan. The first step I did was choose a mortgage company. I called em up, sent in the paperwork they asked for and she did the rest. Then I found a Realtor I liked and they worked with the mortgage company. Within 2 weeks we found a house, had the loan approved and are ready to close! You can go to www.valoans.com and get info like the current VA loan rates and such if you want to. You can look in the phone book and get the number to a Realtor and Mortgage Company!

[deleted account]

hi, my husband and i are in the process of buying a home with his va loan.  you need to do a few things to begin with- you can start with contacting the DEPARTMENT OF VETERANS AFFAIRS 1-888-244-6711 OR www.va.gov.  (i got this from my paperwork).  Then you need to contract a realtor.  as a buyer, you do not pay anything for their service and they can help you with all your financing, va papers, and finding a home. 



good luck!!!  its not that hard!!!

Kendra - posted on 03/05/2009

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ive googled it a few time but i have really found anything that seems to help... i just really have no idea on wat im looking for! im handle pretty much everthing when it comes to moyne and bills.. but ill talk to my bank and see wat they say

thanks

[deleted account]

i would just google it in ur area to see if u can talk w/a specialist. are u member of navy federal bank cuz they offer it so u might be able to go in and talk w/them

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