Anyone ever use a VA loan to purchase a house? I might....

[usmccharles]

Well i finally settled in down in San Diego, I dont want to pay someone elses mortgage when i can have my own place, especially when you consider buying is cheaper than renting.  The housing market seems as if its going back up and out here prices are pretty good.  Im not looking for anything major, just going to get into a starter home or a condo for a 200k.  Was just curious if anyone else on here as used a VA loan and could offer any advice or what not.  I cant be the only veteran on here. 

[1/28/01]

Never used a VA loan myself, but was a mortgage banker for 7 or so years. VA loans are great. Super low interest rates, can/should get with 0 points, low junk fees (unless you get with a "typical" mortgage guy) and everything else is pretty smooth. Only issue could be some sellers frown on VA buyers due to the home inspection being so stringent. I view that as a good thing. If a seller is deterred from a VA loan, they are likely hiding something about the house/condo.

Good luck!

[757RavensFan]

Well i finally settled in down in San Diego, I dont want to pay someone elses mortgage when i can have my own place, especially when you consider buying is cheaper than renting.  The housing market seems as if its going back up and out here prices are pretty good.  Im not looking for anything major, just going to get into a starter home or a condo for a 200k.  Was just curious if anyone else on here as used a VA loan and could offer any advice or what not.  I cant be the only veteran on here. 

 

 

Never used a VA loan myself, but was a mortgage banker for 7 or so years. VA loans are great. Super low interest rates, can/should get with 0 points, low junk fees (unless you get with a "typical" mortgage guy) and everything else is pretty smooth. Only issue could be some sellers frown on VA buyers due to the home inspection being so stringent. I view that as a good thing. If a seller is deterred from a VA loan, they are likely hiding something about the house/condo.

Good luck!

 

I used a VA loan with both homes that I purchased.  It's truly a great option like 1/28/01 stated.  Go to your local VA affairs office and then can provide you w/ a ton of info before you dive in.  But overall, it's a pretty painless experience and probably the cheapest option you have as a vet.