Also for any other veteran watching this the VA loan funding fee can be rolled into the mortgage so you still wouldn't have to pay anything for property and if you are 10% or more disabled from the VA the funding fee is then waived. That also works with refinancing so you can also get a bigger cash out since you won't be paying anything for closing. Cheers.
@antiheroine3611 the funding fee can be added into the loan but if u have 10% or more disability from the VA it is waived. So you would just be paying monthly principal and interest.
I have used the VA Loan twice now and it is a great program. Many vets do not know everything that they can do with the VA Loan. I put out a bunch of info to help educate fellow veterans!
You can also take out multiple VA loans and dont need to be active military to take out this loan 👌. They typically have lower interest rates than conventional too ❤️ As a military spouse, we rarely got turned down when up against conventional loan bids, but it does happen. I think it's due to that va loan process requires more inspections versus conventional but not 100% sure
The best thing about it is no money down. from my experience when I first purchase my first home is my APR rate was higher and they don’t accept 1099K .
What is really sad is that I with only fair credit(private sector first time home buyer) got a better interest rate than a family member did with better credit through the VA. It’s pathetic. If you are or were military or first responder with a good record your benefits should beat out private sector because of your sacrifice. We’re doing our service members a disservice.
Then his lender scammed him. VA loans are the lowest rates on the market because they are federally backed which means no risk to lender. Some big name lenders abuse this by charging veterans a higher rate when they should be getting the lowest on market
Is there any way around all these rules. I am looking for a rental property. I already have a house. I want to rent out the rental immediately. @@richieimsocool
@@tmccull98 No, my great grandparents moved from England to Australia in the early 1900's though my great-grandad served in WWI & WW2 + my grandparents on the same side of the family served in WW2. I'm more interested in the different rules of different countries 'cos i love learning. Have you or a relative/spouse served in the military in your country and would this rule affect you? In Australia years ago there was a rule where you had to prove that any disability from serving entitled you to some sort of disability pension until the rule was reversed and the government had to prove the other way around. My granny who outlived my grandfather was able to get a "gold card" (what I called it) where she was entitled to a pension and a lot of other perks from it till she died at age 90 (I think, but I don't have a good memory).
@@missy1806 ok and Yes he's mostly speaking US economy and financial issues. I and my ex are both US military Veterans. The realtors don't like us because they don't make much money from the sell.
@DOorDIE.357 Interest rates above market rates, the seller has to go through a bunch of hoops including the dreaded VA loan inspection which the seller gets hit with a few chicken shit items to he corrected. It's a big pain for both buyer and seller. I used a VA on our first house, never agajn.
The VA home loan is the best on the market. They have the lowest rates too because they are federally backed so no risk to lender. Also, you don’t have to pay for mortgage insurance. Ppl that talk down about the VA home loan are brain dead lol
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Also for any other veteran watching this the VA loan funding fee can be rolled into the mortgage so you still wouldn't have to pay anything for property and if you are 10% or more disabled from the VA the funding fee is then waived. That also works with refinancing so you can also get a bigger cash out since you won't be paying anything for closing. Cheers.
@antiheroine3611 the funding fee can be added into the loan but if u have 10% or more disability from the VA it is waived. So you would just be paying monthly principal and interest.
About to post this, great loan option if you have any disability benefits
I have used the VA Loan twice now and it is a great program. Many vets do not know everything that they can do with the VA Loan. I put out a bunch of info to help educate fellow veterans!
Also the VA funding fee is waived if you have a service connected disability!
For those who in the reserves
You'll have to do 6 years in before you are eligible for it or if you have deployed you can get it after you come back
6month active duty status*
@@joshuanavarro2734thought is was a single Article 10 deployment regardless of time
yeah unless you can get on a deployment
Did 2 years. 100 percent disabled.
@@joshuanavarro2734 you can do 90 day ADOS tour and be qualified for it my man
You can also take out multiple VA loans and dont need to be active military to take out this loan 👌. They typically have lower interest rates than conventional too ❤️ As a military spouse, we rarely got turned down when up against conventional loan bids, but it does happen. I think it's due to that va loan process requires more inspections versus conventional but not 100% sure
hehe your other reply wanted to "chart" them up! lmao
Disabled veterans with a high enough % is exempted for the funding fee.
The best thing about it is no money down. from my experience when I first purchase my first home is my APR rate was higher and they don’t accept 1099K .
You can ask seller to pay all closing costs
How did this make it even more confusing 😂
What is really sad is that I with only fair credit(private sector first time home buyer) got a better interest rate than a family member did with better credit through the VA. It’s pathetic. If you are or were military or first responder with a good record your benefits should beat out private sector because of your sacrifice. We’re doing our service members a disservice.
Then his lender scammed him. VA loans are the lowest rates on the market because they are federally backed which means no risk to lender. Some big name lenders abuse this by charging veterans a higher rate when they should be getting the lowest on market
@antiheroine3611me too
I’m getting medically dishcharged with 50% disability but I only did a year and was never deployed. Does this still apply to me?
Do you need to qualify for the income?
How long do you have to live in a home before you can rent it if you use the VA loan? Is there a requirement?
12 months i believe
There are also circumstances that may enable you to move out sooner, for example a new job that is more than 50 miles away
Is there any way around all these rules. I am looking for a rental property. I already have a house. I want to rent out the rental immediately. @@richieimsocool
Funding fee is waived as well if you have service connected disabilities equaling a rate of 10% or higher 😃
Is this 10 percent disability strictly to veterans or active duty as well?
Don’t judge me, I’m new to this process. But how do you get the 12k???
crypto
The lending fee is rolled into the overall mortgage so you don’t have to pay it upfront
For clarification, are your posts only for US citizens, whether VA or for other video's you've posted?
Are you a military spouse?
@@tmccull98 No, my great grandparents moved from England to Australia in the early 1900's though my great-grandad served in WWI & WW2 + my grandparents on the same side of the family served in WW2. I'm more interested in the different rules of different countries 'cos i love learning.
Have you or a relative/spouse served in the military in your country and would this rule affect you?
In Australia years ago there was a rule where you had to prove that any disability from serving entitled you to some sort of disability pension until the rule was reversed and the government had to prove the other way around. My granny who outlived my grandfather was able to get a "gold card" (what I called it) where she was entitled to a pension and a lot of other perks from it till she died at age 90 (I think, but I don't have a good memory).
@@missy1806 ok and Yes he's mostly speaking US economy and financial issues. I and my ex are both US military Veterans. The realtors don't like us because they don't make much money from the sell.
@@tmccull98 So sorry, that's really sad to hear that's how you are treated :(
What if I have no money to put down
Is the loan to buy the house or the property?
how about here in philippines?
So either way you’ll have to put a down payment down
False. Funding fee can be rolled into monthly payment. Its a pretty good deal if you can get access to it.
@@frankwood2413will monthly payments be high ?
So can we get 500k if we don’t have the qualifying income in California?
Ironically if he just got back from being on tour he is most likely to have money saved up.
True, but why put it down if you don’t have to.
$100K? I doubt it.
Yeah but he don’t got 100k
Army tour chill operator
He so wrong
You talk to yourself all the time. You need to speak with a professional
Gg
VA loans suck, avoid them if at all possible.
Read the top comment, not a dime down
Stupid comment
@DOorDIE.357 Interest rates above market rates, the seller has to go through a bunch of hoops including the dreaded VA loan inspection which the seller gets hit with a few chicken shit items to he corrected. It's a big pain for both buyer and seller. I used a VA on our first house, never agajn.
@@williewonka6694 bruh youre crazy!!!!
The VA home loan is the best on the market. They have the lowest rates too because they are federally backed so no risk to lender. Also, you don’t have to pay for mortgage insurance. Ppl that talk down about the VA home loan are brain dead lol