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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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VA Loans... :)
-If you put nothing down, do you regret it?
-Did you have to pay closing costs?
-How much of a discount do you get off of your property taxes?
-Was home inspection a pain?
-You are exempt from mortgage insurance, right?
-Do you feel things went smoothly with doing it through VA Loan?
-Do you use a bank for VA loan , if so, what bank?
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Posted 12/21/09 9:45 PM  |
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RocPin
Life's Beachy <3
Member since 2/08 6765 total posts
Name:
Heather
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Re: VA Loans... :)
-If you put nothing down, do you regret it?
Obviously we would have loved to put money down but we don't regret not doing it. The little money we had saved we really needed to help furnish the house and feel good having a nest egg in the bank.
-Did you have to pay closing costs?
Not a penny. We had the sellers pay 100%. We bought in VA
-How much of a discount do you get off of your property taxes?
I wasn't aware we got one but property taxes are very low here.
-Was home inspection a pain?
Not at all
-You are exempt from mortgage insurance, right?
Pretty much. You pay a one-time fee (I wanna say it was about $1500 - $2k but don't quote me) and it was wrapped into the mortgage. Definitely a lot less than monthly PMI.
-Do you feel things went smoothly with doing it through VA Loan?
Yep, no major complaints
-Do you use a bank for VA loan , if so, what bank?
Wells Fargo
Message edited 12/21/2009 10:33:29 PM.
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| Posted 12/21/09 10:32 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: VA Loans... :)
wow thanks so much! i'm thinking this is the way to go..
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| Posted 12/21/09 10:41 PM |
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RocPin
Life's Beachy <3
Member since 2/08 6765 total posts
Name:
Heather
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Re: VA Loans... :)
Posted by rileysmama
wow thanks so much! i'm thinking this is the way to go..
If you are eligible, I would say definitely get the VA loan. Its no gimmick, just a reward for serving your country.
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| Posted 12/21/09 10:44 PM |
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Lucky09
2017!
Member since 1/06 7539 total posts
Name:
DW
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Re: VA Loans... :)
We don't have a VA loan as my DH joined after we bought our house, but my brother does and he had a great experience with it. He went through Bank of America.
I know we get a 10% discount off property taxes but my brother gets 25% because he served in a war.
Hope that helps!!!
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| Posted 12/22/09 9:50 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: VA Loans... :)
-If you put nothing down, do you regret it? Not at all. It allowed us to have extra money in the bank.
-Did you have to pay closing costs? We did put some money down, but it went towards our closing costs.
-How much of a discount do you get off of your property taxes? You have to fill out a completely different form for the VA exemption. Just having a VA loan does not get that for you. You do this after you own the house-almost like STAR. When you go to the VA website, it will tell you approximately how much you will get off.
-Was home inspection a pain? No, the inspection had nothing to do with our loan. It's the VA appraiser that is sometimes a stickler, but we had no problem at all.
-You are exempt from mortgage insurance, right? Correct. You do not pay PMI. You will have to pay a one time 7250 (I think that is the nubmer) fee for having the VA loan, but we added it to our mortgage as well.
-Do you feel things went smoothly with doing it through VA Loan? Absolutely!
-Do you use a bank for VA loan , if so, what bank? We used Wells Fargo.
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| Posted 12/22/09 10:25 AM |
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