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  1. #11
    Brown Button Glutton BooCocky's Avatar
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    Best thing you can do is speak to a loan officer.

  2. #12
    Brown Button Glutton BooCocky's Avatar
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    Quote Originally Posted by TexasBrandon View Post
    There is no PMI on VA loans. I've used the VA loan twice now, never put anything down and never paid PMI. It's supposed to be a loan backed by the government. I've never had a problem buying a house with the VA process, those that are having issues may live in the city?
    PMI may be required with certain credit scores.

  3. #13
    TGT Supporter
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    Jun 2011
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    Katy, TX
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    try these guys they specialize in helping vets https://newdayusa.com/
    Lighten up Francis.

    NRA Patron Member
    TSRA Life Member

  4. #14
    Senior Member F350-6's Avatar
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    It's been more than a couple of decades for me, but I remember having to drive to Dallas and go into an office with my DD-214. Most efficient government office I think I've ever been in. Walk in, show form, had the form typed up (still used typewriters back then) and was out the door in less than 10 minutes.

    If you're looking for land, check with the Tx Vet Land Board. They used to have a magazine you could subscribe to that listed repossessed properties for sale. Some with houses, some without. Seems like it was TXVLB properties that were repossessed or something. Probably have the same info online these days. Things were different back then.
    Chris

    “Good judgment comes from experience, and a lot of that comes from bad judgment.” Will Rogers

  5. #15
    Senior Member
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    Ghettohood - SW Houston
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    Quote Originally Posted by F350-6 View Post
    It's been more than a couple of decades for me, but I remember having to drive to Dallas and go into an office with my DD-214. Most efficient government office I think I've ever been in. Walk in, show form, had the form typed up (still used typewriters back then) and was out the door in less than 10 minutes.

    If you're looking for land, check with the Tx Vet Land Board. They used to have a magazine you could subscribe to that listed repossessed properties for sale. Some with houses, some without. Seems like it was TXVLB properties that were repossessed or something. Probably have the same info online these days. Things were different back then.
    http://www.glo.texas.gov/vlb/land/

    Eli

  6. #16
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    Azle
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    Bought 2 houses with my VA loan now... Easy as pie when your realtor knows what they're doing.

  7. #17
    Senior Member F350-6's Avatar
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    Quote Originally Posted by Eli View Post
    7.25%? That's robbery. Kinda looks like it's turned into a money making scheme where they give automatic approval to folks who have no other options, charge an interest rate over double what's normal, and then plan on repossessing it later.

    Or at least that's how it comes across to me. Interest rates used to be comparable to what you'd get at a bank.
    Chris

    “Good judgment comes from experience, and a lot of that comes from bad judgment.” Will Rogers

  8. #18
    Senior Member
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    Quote Originally Posted by F350-6 View Post
    7.25%? That's robbery. Kinda looks like it's turned into a money making scheme where they give automatic approval to folks who have no other options, charge an interest rate over double what's normal, and then plan on repossessing it later.

    Or at least that's how it comes across to me. Interest rates used to be comparable to what you'd get at a bank.
    I was linking it more to show where the land sales are. Unfortunately, there's been a LOT of foreclosures, hence the higher interest rates - which are not far off from bank rates for land.

    Eli

  9. #19
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    Aug 2009
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    Ellis County
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    My VA loan was 6% for 30 years. My realtor handled it all. My bank happens to carry the loan, so refinance to 2.75% for 15 years 6 years later was easy.
    Hope and Change = Bait and Switch

  10. #20
    Senior Member F350-6's Avatar
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    Quote Originally Posted by Eli View Post
    I was linking it more to show where the land sales are. Unfortunately, there's been a LOT of foreclosures, hence the higher interest rates - which are not far off from bank rates for land.

    Eli
    Start checking on rates at your local Federal land bank. They specialize in out in the country sorts of stuff.

    https://www.lonestaragcredit.com

    https://www.agtexas.com

    I've used both of these before. Lonestar did better with rates and ease to deal with.
    Chris

    “Good judgment comes from experience, and a lot of that comes from bad judgment.” Will Rogers

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