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

[grasshopperglock]

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.

 

[Eli]

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

 

[BigBoss0311]

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.

 

[Texas42]

My non-veteran opinion.

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

 

[Bozz10mm]

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.

 

[tact]

Did better without it......never used it.

 

[45tex]

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.

 

[oohrah]

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.

 

[AustinN4]

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.

^^This

 

[TexasBrandon]

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?

 

[BooCocky]

Best thing you can do is speak to a loan officer.

 

[BooCocky]

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.

 

[mroper]

try these guys they specialize in helping vets https://newdayusa.com/

 

[F350-6]

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.

 

[Eli]

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

 

[Burke]

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

 

[F350-6]

http://www.glo.texas.gov/vlb/land/

Eli

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.

 

[Eli]

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

 

[Willy]

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.

 

[F350-6]

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.