Forgotten Your Password?

Need to Register?

Question Icon

Recently returned home from overseas, considering a VA loan. Too good to be true.. any disadvantages to the loan?

Any suggestions or advice? by F1FelixCarlson01 from Grand Rapids, Michigan. Aug 23rd 2013 Reply


Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

VA loans are GREAT loans and you can do a 100% loan with them. Contact a lender411 loan officer licensed in your state to help you.

Aug 23rd 2013
1
0
Mike Silkworth (msilkw_195_870)
#2 ranked lender in Michigan - 530 contributions

VA Loans are great loans. VA has more restrictions on employment history and could present problems with you coming off active duty. A lender familiar with VA will be able to make a determination on this with a simple 5 minute phone conversation. If I can help, feel free to call at 517.489.2328. =Mike Silkworth - Union Home Mortgage with offices in Lansing and Grand Rapids.

Aug 23rd 2013
1
0
Jack Cyrul (Jack Cyrul)
#6 ranked lender in Michigan - 94 contributions

If you do not have 20% to put down then it's the best loan on the face of the earth for you. Call me I'm an expert on VA loans and would like to help you with this. Jack Cyrul 734-395-9027

Aug 23rd 2013
1
0
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

With VA, there's no down payment necessary, and VA does not charge monthly mortgage insurance, so the payment could actually be less than other loan programs.. VA does charge a funding fee, which can be waived or reduced if your a disabled vet.. If you have never used VA for a home purchase in the past, you should do it now.. .. 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

Aug 23rd 2013
1
0
Joshua Nawrot (jnawro_497_179)
#51 ranked lender in Michigan - 10 contributions

Afternoon! First off thank you for serving our country! We are a local West Michigan Mortgage Company and would love to chat with you on VA Home Loan options with you. VA is an incredible mortgage product with all of the advantages (zero down, no PMI, ect) and none of the disadvantages. Feel free to reach out to me directly. We are here to help.Joshua J. NawrotVice President of LendingNorthern Mortgage Services, Inc.3714 28th StreetGrandville, MI 49418NMLS: 160116P: 616-581-0540E: JNawrot@NorthernMTG.comwww.NorthernMTG.com/Josh

Aug 23rd 2013
1
0
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,323 contributions

I love VA Loans... the two primary reasons they are so awesome is 1) Zero down payment. 2) No mortgage insurance. They kick butt over anything else. If you are active or a vet, and you want to buy a house - it is foolish NOT to use a VA Loan! In MN or WI, visit www.VA-IRRRL-Loan-MN.com

Aug 24th 2013
1
0

No disadvantages. This is the best loan available with many advantages particularily for those who served our country. The only issue is the upfront fee, but you have no down payment and no monthly mortgage insurance, allowing you to qualify for a larger loan and have a lower payment.

Aug 23rd 2013
0
0

Forgot to mention that I am a Michigan lender familiar with Grand Rapids. I also have an excellent Realtor I can refer you to there if you need. Pam Gordon 248-770-7066

Aug 23rd 2013
0
0
Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

Every loan has its ups and downs. On this one, its' the hefty VA FUNDING Fee that they finance into your loan. However you cant see it, you cant feel it............................so it doesnt really hurt right?

Aug 23rd 2013
0
0
Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

The main advantage is you can borrow 100% of the purchase price and have NO monthly mortgage insurance. You do however have a VA funding fee that can be financed and if you have a disability the VA funding fee can be reduced or even eliminated. Let's hope you didn't have to suffer through a disability. Now if you have 20% to put down and you intend to do so, you may want to consider a conventional loan. Although government rates are running a little better than conventional rates.Thank you so much for your service.Elden

Aug 23rd 2013
0
0
Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,318 contributions

Very good opportunity provided to those who serve our country with honor. It is for real.

Aug 23rd 2013
0
0
Subscribe to our news feed.