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could you get a va loan for a greater amount then the house say to pay off vehicles and credit etc so you only have one payment

by jsmithpookie1662 from , . Jul 23rd 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Absolutely not... VA loans are mortgage loans secured by real property, and is intended to be a benefit for military personal to be able to purchase a home with no down payment, with the full backing of the US Government. it's not intended to be a consolidation loan. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jul 23rd 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

You can take cash out on an existing property to pay off other debt or roll that debt into your loan thus giving you one payment.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation ask for Michelle or Benny. We will find the Best Mortgage Option to suit your needs! Check us out at www.BestMortgageOption.comAsk us about the awesome discounts we offer heroes as a Homes for Heroes affiliate!

Jul 23rd 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

On a purchase, no; on a refinance, yes.

Jul 23rd 2013
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Steven Cook (stcookmortgage@gmail.com)
#38 ranked lender in Washington - 256 contributions

Dave has the right answer, but be aware that most lender will not provide more than 90% on a cash out refinance. You should get in contactwith a local, licensed mortgage professional who deals with VA loans to determine your best course of action in your situation.

Jul 23rd 2013
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Ernesto Marez (Ernesto)
#68 ranked lender in Maryland - 137 contributions

Actually,Refinance : 100% cashout refinance on a VA loan is allowed.Purchase:the seller is allowed to payoff the buyers debt in order for the veteran to qualify for the purchase.Feel free to call or email me with any questionsErnesto Marez - Mortgage Banker emarez@thefederalsavingsbank.comThe Federal Savings Bank - we are a Veteran owned Bank

Jul 24th 2013
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Pete Bass (PeteBass)
#30 ranked lender in Connecticut - 476 contributions

if this is a refinance, depending on the value and how much you owe, you may qualify for a cash out refinance- your best bet is to contact a local lender whois experienced with VA loans-

Jul 24th 2013
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