How to get a VA home loan...questions.

Discussion in 'Military Vets' started by grasshopperglock, Mar 7, 2017.

  1. grasshopperglock

    grasshopperglock Error 404

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    How does one get a VA home loan Voucher? Does it apply to module homes? Built ones? Can I use it to finance a house to be put on something like Texas vet land or other undeveloped property?



    I plan on going to the TVC and asking.

    I'm sure there's lots of veterans here that's done it. A veterans personal view is better about the process.
     


  2. Eli

    Eli Well-Known

    Do you want a VA or a Texas Vet loan? Either can go through most mortgage brokers, VA is easier to get as TXVET generally lose money for the lender because compliance costs exceed any margins.

    Eli
     
  3. BigBoss0311

    BigBoss0311 Well-Known

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    There is so much involved with this it is almost better to sit down with someone and learn about it. One thing you will find is sellers hate VA loans.
     
  4. Texas42

    Texas42 TGT Addict

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    My non-veteran opinion.

    Nothing down mortgages are a bad idea.
    Modularlar homes are a bad idea.
     
  5. Bozz10mm

    Bozz10mm TGT Addict TGT Supporter

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    I got the VA certificate about 14 years ago and never used it. You have to go down to the VA office and take your 214 with you. That's all I can remember, it's been too long. The certificate never expires, I remember that much.
     
  6. tact

    tact Member

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    Did better without it......never used it.
     
  7. 45tex

    45tex Well-Known

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    You don't need anything but your dd214. Hire an agent that knows VA. He/She will give you 800 things to do and set you up with a loan company. Or work with yours. A VA no down loan will cost you a couple grand for inspections and such. Everybody has their hand in your pocket.
    This type of loan is great idea. You earned this. Nobody is giving you anything. You earned the right to apply for your service to this country. But its uncle sams game so have to jump thru their hoops, but its worth it. In the end the govt. Is just guarantying part of your note.
     
  8. oohrah

    oohrah Active Member

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    I have done it when I was poorer and didn't have the down payment. You will have to also pay PMI until your balance is below 80% of market value. Hard part is finding a seller who will agree, since there are extra closing costs the seller must pay. And right now, a lot of markets are seller's markets.

    i don't know the answer to your other questions.
     
  9. AustinN4

    AustinN4 TGT Addict

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    ^^This
     
  10. TexasBrandon

    TexasBrandon TGT Addict

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    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?
     

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