✅ - Get a Referral to a Mortgage Lender or Realtor - www.jebsmith.net/referral 🏠 - First Time Home Buyer Course - www.becominghomewise.com VA Loan Benefits Explained ⏩Watch this NEXT ⏩ th-cam.com/video/C3nvQnjU8Ac/w-d-xo.html
thanks for the info, i thought i needed a better credit score to buy a house but i dont...USAA will handle all of my lending needs and ill be a first time home buyer. waiting for marker to pop and im getting a sweet house with 0 down to retire in done.
I'm in the same boat, but honestly you never know how this crazy maniuplated market is gonna play out and these prices could seem like a steal 5 or 10 years from now.
I'd say history shows prices never go down. If they do, not for long and not as much as people need. I'm looking now too and it's scary but I'm gonna go for it lol. Good luck!
Buy the cheapest house in the top 5 neighborhoods with room to build. The land is valuable, not the house. Maybe house value drops but a ADU would generate rental income too. I would not buy in CA again due to taxes.
@@Justify4935 I’d call the va and find out. My situation is unique I bought my first house back in 09 after the crash. I kept it and rent it out. I didn’t use all of it. If I remember my eligibility was 350-400k and I only use 175k. Remember this is back in 09 and we all know real market appreciated over time. So my eligibility has gone up because of that.
I bought my first condo with my VA loan then sold it and made a nice profit. I was thinking of using it again this year for another condo but we’ll see how things go. It’s definitely a great benefit to have.
Maybe I missed it, but to add to, the reason why you're not required to have a down payment or mortgage insurance is because they back the loan up to 25%. Meaning if you default on a loan of 200,000, the VA will pay the lender $50,000. Which it's actually advantageous for the lender if you default, say 8 years into a 15 year mortgage. Also if you're lucky or unlucky depending on your perspective the funding fee is waived for disabled vets.
I just came across your yourtube channel and I'm a new subscriber and a new fan. I'm a retired Navy Veteran with a 6 figure income and I would like to purchase my first home in 2025, I love all the advice your sharing with ppl like me and I appreciate the advice so much. I will look at your referral list.
Without this video I would have been sitting here wondering if I could buy another home since we have moved. We ended up renting cause I didn’t want to get out of my VA loan on my first house and didn’t know I could have two at one time
Absolute great video Jeb! I’m planning on using the VA home loan while I’m in college to possibly buy a duplex or condo, live in it for a year then hopefully buy another and do the same and rent it all out in the end! Great way to start my real estate empire!
I love your videos! Very educational. The only thing that would make them better is if there were time stamps/chapters so that we can skip around subsection to subsection. Thanks for the content!!!
I don't make a lot of money, not the best credit score, moved to Maine two years ago, and ready to buy. My bank approved me for only $120k due to my debt. I found a house on a website but the seller realtor said VA won't approve due to work needed. The photos don't show anything unacceptable. We ended the conversation there even though everything about the listing was perfect for me, location, land, etc. Perhaps the photos didn't show the work needed? Or is there another reason a realtor would say that? Because I've heard that many times before.
Most definitely gave you a thumbs up because my husband and I are newlyweds and he was told years ago that he needed to have a 640 credit score in order to get approved. I can't wait to check the link you provided to see what we could be eligible for because the apartment we are living in now is getting so cramped 😫This could really be a game changer! Thank you so much for sharing!!! ✨✨✨✨✨✨
2:13 THANK YOU for your caution against those big "official sounding" national VA lenders. As a real estate agent nothing is more frustrating than working with one of these lenders. They often have components in various time zones so getting ahold of someone is a hassle not to mention they don't take calls outside "normal business hours". Guess what folks, 90% of real estate doesn't happen within anything close to "normal business hours". I need to be able to call the Lender on a Sunday 9AM or Saturday 9PM if needed. Please if you're looking for a VA lender go local! Trust your real estate agent, he or she has a lender they know they can trust. Buying a home is stressful don't take a chance on a cookie cutter VA lender because their name sounds "military".
In 2020, Veterans United offered me 3.25% interest. The builder offered me 2.5% interest, $3k in closing concessions, and rolling all remaining closing costs into the mortgage. I went with the builder’s lender!
For the requirements I’d like to add that they exempt you from leaving in the first home you buy if you have a deployment order With that being said if you are deploying and you have your orders you can actually use it to rent the property out without even leave in it
@@JebSmith so veterans United “ assigned” me a realtor thats in my local area that we(wife & I ) never met in person. We are not going to use veterans United. If we are purchasing from a home builder that’s named regency do we still need to use a realtor for buying if contract is the builders contract? I understand it’s not going to save us money but seems pointless. The terms are 1 year home warranty and 3% closing cost covered by seller. Va loan will be used. Thanks
Hello… since I can’t post my question twice, I hope you can read it and respond to it. It might be two questions in one. I’m a veteran, and stay at home wife. My husband is also veteran. Before we got married, he bought a home with VA loan, which is our primary home. If we want to buy another home, can we use my VA loan using his income? Would we both be on the home loan since it’s his income? Thank you, I appreciate your time and response! I just subscribed and like this first video I’ve seen of yours. Blessings!
@@JebSmith oh my gosh! I never knew that!! And I have been overwhelmed with so much information and research that video's like this helps a lot. Thank you 💜
VA loan is a great deal, but their requirements are stricter, and you can get bit in the butt by them. For instance, I went for a VA loan 1.5 years ago, and they require a termite inspection, and the home I was buying had minimal terminate damage, that was taken care of decades ago, and the previous homes owners that lived there for 30 years never had a problem. The problem here was, the terminate inspection company knew exactly what they were doing, and unless they treat the home, which is well over $1000, you are not getting the VA to give you that loan. And, in many states, including my state, the sellers must pay for the inspection and the treatment, and the VA will not give you a loan unless they do, and the receipt for inspection and treatment is in their name. So, the seller is out approx $1500 before closing happens.
Yes VA requires the termite to be completed but quite frankly it's not much different than most other offers as buyers are typically wanting termite inspections and clearance even using conventional loans. The only difference is conventional doesn't require it. I don't think that makes me a loans more stricter but rather a great requirement because the home has to be termite free upon closing.
@@JebSmith I get it, but in some states the seller must pay those costs per VA guidelines. An insect inspection company can come in and say whatever they want and require treatment, which is over $1000, and the seller MUST pay for that as well, otherwise the deal is off the table. Seller gets another VA offer, same things can happen, the seller must pay. As a seller, it’s a deterrent paying for a buyers service when the market is hot, and I have plenty of other offer. As a recent borrower of a VA loan, I went through this, and many times a seller wants the buyer to pay for it, but the VA will not allow it, and they want to see receipts that the seller covered these costs, that could exceed well over $1000, and that doesn’t even guarantee a sale.
Yup, I was only in the navy for a little over a year before getting a medical/honorable discharge. I got my CoE+ funding fee waiver like 2 days after requesting it.
I had a VA loan for a house years ago. My then wife divorced. The mortgage was on its way to being default. Now my ex wife paid the house off. My question: can I now use my VA loan again?
You can, so as long as you didn’t use your full entitlement with the first house. I would contact a lender that specializes in VA loans, not the big banks like NFCU, USAA or Veterans United, a smaller loan officer that does high volume of VA loans, as these loan officers have seem many scenarios and would be in a better position to help answer your questions. Good luck!
We just bought a house and we had to pay $2000 for house deposit and $6000 for closing cost. Nothing free! Also my friend had to pay $9000 for there’s.
If low credit score can get you unapproved..... The entire Convo is false.... I could see if it increased a fee/deposit...... 👈👈👈From what I've seen.... If you ain't around 620 your not getting approved.
Some lenders have overlays requiring a specific score. The VA has no credit score requirement and there are some lenders out there that go by the VA guidelines. That means there are lenders out there doing VA loans with no minimum credit score requirement.
I'm active duty and my wife is a vet with 100% disability. We will be using our va loan for the first time. Since my wife is 100%, will we have to pay the funding fee?
@@JohnVonCakes dude most of the people with disability in the military fake that shit or misuse it to get a check, I’m sure his wife is the same. So many people abuse the disability
No. Have her request her CoE. If you have even 10% disability it'll show on your CoE that you have a waiver for the funding fee. I only had 30% disability when I originally requested my CoE and it stated that I have the waiver.
Hi @user-qy3wm3xn7z, So glad you found the information useful, and a warm welcome to our online community! Your support truly means a lot and we're happy to have you on board. Stay tuned for more insightful content and feel free to share any questions or topics you're interested in. Thank you for subscribing!
Couple things there chief. First, vets don't have a down payment because our time served is our down payment. I did 4 years and a 6 month tour in Iraq, I pretty sure that qualifies me or anybody else that served. Second, the 90 day thing is correct but if you were dishonorably discharged you don't qualify for shit. You must have a Honorable or under Honorable conditions discharge. I literally just talked to these guys a couple of days ago because I got pre-approved for a Va Loan. While I was waiting, I asked a bunch of questions and that's what they told me.
Hi @666tinoco, to find a good VA lender, consider factors such as their interest rates, fees, and terms. Additionally, research online reviews, recommendations from friends, family or head over to
@@nenac.8783 if he isn’t receiving housing allowance which you typically don’t get unless you’re more senior in the Military typically at the end of the E-5 level or you’re married then he won’t have enough income to buy a home. I would suggest he focuses on putting as much money in his TSP as possible then down the line look at buying a home. Take into account home prices are the most expensive they have ever been in the history of our country right now
My husband is a vet, 30 years ago he used his va benefits and bought a home and paid it off. Now we won't to use it I'm his 2nd wife. It's been so long would he be considered a first time buyer or 2nd time. We're worried about the fee$ you mentioned. And we got 2 credit cards to improve lanes credit because our VA Broker said it would help and it made it drop bad 😢 HELP
The Credit score still has to meet the lenders criteria... So you are misleading saying that you dont' need a credit score.. the VA does not loan the money. They ONLY guarantee the 25% LTV.
My son is in the Navy for 2 years and is in E-3 he’s credit score is 660 he is trying to fix though but he wants to buy a house. Would he qualify also does he has to live in the residence for example he wants to buy a house for me and he’s sisters to live in but would that be ok or he would have to be living there.
Are there loans for first time homebuyers or other kind of loans. Or is it better to go the conventional route. I can afford to put down a 20% but just trying to figure out which way saves money in the long run.
Is there fine print that says “training days” do not count toward the 90 day AD requirement for eligibility? Thought I had read that before, just wondering.
Do I have to save money for closing costs? I’m 100 disabled vet and I want to buy a home in Texas but I don’t have money saved up. I plan on buying with no money down. Does anyone know if closing costs are added to my loan? Or do I have to have to have money for closing costs and pay upfront???? Please answer :)
No you won’t have to save any money for closing costs. being disabled, the VA will wave you funding fee…and the best benefit of all for you since you’re in Texas, is that because you are 100% P&T disabled, you won’t have to pay any property taxes. After purchasing your home, go to your tax assessor’s office and set that up, just bring your benefits verification letter that you can get from the VA app
You’re gonna need money saved for all the hidden fees that you will have to pay. I would save up 5-10k for this. If you can get approved. Im at 100% P&T none of that meant anything. If you dont have any money, youre fucked. All this no money down bullshit is a lie. I tried and got denied for everything. Im starting to think the va loan thing is a fantasy that sounds good to politicians but isn’t actually a thing. Even though i know vets that have gotten theirs with less income and worse credit than me, i kept getting denied. Now my family is stuck in an apt because of all this… the shit aint real.
You need to have money for the inspection and earnest money. Back in 2009, we had $3500 saved, and we only paid for the inspection, and you give some earnest money that at the end they give you credit for. I would say have at least 5k, then apply. Also, in San Antonio, TX, new home builders are giving better deals than if you buy a used home. They either buy back some interest, give you lower interest, or give you upgrades. Don't get discouraged and also look into new homes. Like they previously said, you will pay 0 property taxes. Making your payments even lower.
I have a question regarding employment. I've been a truck driver for the last two years, but I've switched trucking companies 6 times but no gaps in employment. Does that disqualify me?
I think you will, back in 2009 we bought our first home and my husband (veteran). Had switch jobs 4 times during 2 year period. But he had been aircraft maintenance for at least 10 years.
I see where you're coming from but it's important to clarify that the funding fee and PMI (Private Mortgage Insurance) are not quite the same thing. The funding fee is specifically tied to VA loans, a cost paid by borrowers to protect the lender in the event of defaults. On the other hand, PMI is an insurance that a borrower might have to pay if they have a conventional loan and make a downpayment of less than 20%.
@@JebSmith correct but the point remains the same. You do not have to pay a PMI but you do have to pay the funding fee. However if yo put 20% down on a VA loan do you still pay the funding fee?
@@JebSmithnot necessarily, a lot of veterans, especially the active duty ones have enough income to qualify to purchase a house and not necessarily have the savings for closing. This is because active duty members move too often and not always get a chance to recover and build their savings back up. If they’re moving to an area that nave a lot of new construction they should try to see what kind of incentives they have to help with the closing costs. You can also work with an agent that’s willing to try to get the seller pay for the closing costs. It is just not guaranteed that they will agree to pay them for the house you pick. Good luck!
@@doralhomesbybettygonzalez !!!!!!! We have moved twice in the past year!!!! It’s so difficult renting because sometimes move in costs are 5k+ because we’re Navy living in beach towns. We’ve forked out THOUSANDS of dollars every time we move, and can’t seem to catch a dang break where we can save for closing costs!!!! My brain is melting
@@lindseys8039 I completely understand the challenges and financial strain that comes with frequent moves, especially in high-cost areas like beach towns. It’s one of the reasons I always advise VA buyers to consider new constructions. These developers often have extensive experience with VA loans and can sometimes offer assistance with closing costs, which can be a significant relief. In areas where new construction isn't an option or might be out of your price range, connecting with a realtor who is also a veteran can make a huge difference. We've been through similar experiences and understand the true value of the VA's zero-down policy and how crucial it is for military families trying to secure a home. You and your spouse truly deserve to achieve your slice of the American dream, and finding the right agent is a key part of that. A dedicated agent won’t hesitate to negotiate on your behalf, including asking sellers to cover your closing costs. The right house is out there waiting for you and the right agent that's going to help you find it, is waiting for you to give them a call, too. Good luck, and remember, you're not alone in this journey.
20 years ago I tried to apply for a VA loan and was refused. I had credit score in the 750s and now it’s in the high 800s. Anyways I ended up getting a 80/20 loan with zero down. I financed $100,000 paid off the house in 19 years and sold the house for $240,000. Fk the VA loans
is it better to put in a downpayment if you have the money for a va loan? i don’t want to pay a very high monthly payment without a downpayment, the purchased price is almost $900k on a single family home. is there some advantages to put in a downpayment?
@@mollymain6446NFCU fees are too much, they have points then an originating points which is 1 percent of the loan. i ended up going with someone else that specialize VA loans which is half the cost of closing cost and lower interest rate vs NFCU.
Depends on your goals. Putting more down will also lower your funding fee % if you are subject to one. Run the numbers and see whats possible. For my clients, I provide them a Mortgage Coach video that shows possible options.
✅ - Get a Referral to a Mortgage Lender or Realtor - www.jebsmith.net/referral
🏠 - First Time Home Buyer Course - www.becominghomewise.com
VA Loan Benefits Explained ⏩Watch this NEXT ⏩ th-cam.com/video/C3nvQnjU8Ac/w-d-xo.html
thanks for the info, i thought i needed a better credit score to buy a house but i dont...USAA will handle all of my lending needs and ill be a first time home buyer. waiting for marker to pop and im getting a sweet house with 0 down to retire in done.
How is Veteran's United???
I’m a veteran with a 750 credit score. Currently debt free, just scared to buy at these prices
I'm in the same boat, but honestly you never know how this crazy maniuplated market is gonna play out and these prices could seem like a steal 5 or 10 years from now.
I'd say history shows prices never go down. If they do, not for long and not as much as people need. I'm looking now too and it's scary but I'm gonna go for it lol. Good luck!
Buy the cheapest house in the top 5 neighborhoods with room to build. The land is valuable, not the house. Maybe house value drops but a ADU would generate rental income too. I would not buy in CA again due to taxes.
@@soulsanctuaryhealing11False! They went significantly down in 2008 and I think in the early 2000s.
@@sunnindawgtake this!
I currently own 2 properties in San Diego using VA loan. It’s a great benefit and one way to build wealth.
💪💪💪
Oh we can go thru VA for multiple loans? I thought it was just one loan..
@@Justify4935 it depends with your remaining entitlement or eligibility
@@House_hacker_619 so what exactly does that mean? How does one's eligibility differ from another?
@@Justify4935 I’d call the va and find out. My situation is unique I bought my first house back in 09 after the crash. I kept it and rent it out. I didn’t use all of it. If I remember my eligibility was 350-400k and I only use 175k. Remember this is back in 09 and we all know real market appreciated over time. So my eligibility has gone up because of that.
I bought my first condo with my VA loan then sold it and made a nice profit. I was thinking of using it again this year for another condo but we’ll see how things go. It’s definitely a great benefit to have.
Agreed.
How long did u hold ur condo for?
Im sorry, @ke6264. Can you sell the propery to somebody else before you pay it off ? Or how that works
Maybe I missed it, but to add to, the reason why you're not required to have a down payment or mortgage insurance is because they back the loan up to 25%. Meaning if you default on a loan of 200,000, the VA will pay the lender $50,000. Which it's actually advantageous for the lender if you default, say 8 years into a 15 year mortgage. Also if you're lucky or unlucky depending on your perspective the funding fee is waived for disabled vets.
Thank you for the information. First Timer and I had no idea where to start, it can be intimidating
Glad it was helpful!
I just came across your yourtube channel and I'm a new subscriber and a new fan. I'm a retired Navy Veteran with a 6 figure income and I would like to purchase my first home in 2025, I love all the advice your sharing with ppl like me and I appreciate the advice so much. I will look at your referral list.
Without this video I would have been sitting here wondering if I could buy another home since we have moved. We ended up renting cause I didn’t want to get out of my VA loan on my first house and didn’t know I could have two at one time
Absolute great video Jeb! I’m planning on using the VA home loan while I’m in college to possibly buy a duplex or condo, live in it for a year then hopefully buy another and do the same and rent it all out in the end! Great way to start my real estate empire!
Absolutely!
Thank you so much I’m a USMC vet been needing this info
I love your videos! Very educational. The only thing that would make them better is if there were time stamps/chapters so that we can skip around subsection to subsection. Thanks for the content!!!
I don't make a lot of money, not the best credit score, moved to Maine two years ago, and ready to buy. My bank approved me for only $120k due to my debt. I found a house on a website but the seller realtor said VA won't approve due to work needed. The photos don't show anything unacceptable. We ended the conversation there even though everything about the listing was perfect for me, location, land, etc. Perhaps the photos didn't show the work needed? Or is there another reason a realtor would say that? Because I've heard that many times before.
Most definitely gave you a thumbs up because my husband and I are newlyweds and he was told years ago that he needed to have a 640 credit score in order to get approved. I can't wait to check the link you provided to see what we could be eligible for because the apartment we are living in now is getting so cramped 😫This could really be a game changer! Thank you so much for sharing!!! ✨✨✨✨✨✨
Home Buying for Dummies is a GREAT resource. Sit down and read it. I also recommend The Complete Guide to Home Inspection.
Great video, thanks for busting all of these VA loans myths and educating, not only the consumer but other agents, as well. 🙌🏼
No money down but you need money. Im being told im going to have to pay 7k on closing costs for a 200k home.
That's a bit high.
Added to the loan price there you go at the closing cost to the loan price
Closing costs can be rolled into your mortgage.
@@domepiece11 no they cannot.
@@lakerraider3574you cannot roll closing costs into the loan
We are looking to buy a house after my partner gets out of the military. I'm doing as much research as I can to help out with the process
same here!
2:13 THANK YOU for your caution against those big "official sounding" national VA lenders. As a real estate agent nothing is more frustrating than working with one of these lenders. They often have components in various time zones so getting ahold of someone is a hassle not to mention they don't take calls outside "normal business hours". Guess what folks, 90% of real estate doesn't happen within anything close to "normal business hours". I need to be able to call the Lender on a Sunday 9AM or Saturday 9PM if needed. Please if you're looking for a VA lender go local! Trust your real estate agent, he or she has a lender they know they can trust. Buying a home is stressful don't take a chance on a cookie cutter VA lender because their name sounds "military".
Which three names??? I didn't catch them..
Thank you for this sound advice. Currently browsing now
Is Veteran's United good?
In 2020, Veterans United offered me 3.25% interest. The builder offered me 2.5% interest, $3k in closing concessions, and rolling all remaining closing costs into the mortgage. I went with the builder’s lender!
I’m about to buy a home, but I was wondering if no down payment meant it covered the closing costs also?
For the requirements I’d like to add that they exempt you from leaving in the first home you buy if you have a deployment order
With that being said if you are deploying and you have your orders you can actually use it to rent the property out without even leave in it
Leave or live ? Im a little confused
Yeah, it is still your “primary residence.”
Thank you for your in depth explanations.
Thanks for this video, I almost fell victim to veterans United. This was a great tutorial
Glad you were able to get away 😂
@@JebSmith so veterans United “ assigned” me a realtor thats in my local area that we(wife & I ) never met in person. We are not going to use veterans United. If we are purchasing from a home builder that’s named regency do we still need to use a realtor for buying if contract is the builders contract? I understand it’s not going to save us money but seems pointless. The terms are 1 year home warranty and 3% closing cost covered by seller. Va loan will be used. Thanks
Me too 😢
Mtiger what's wrong with Veterans United?
@@adama3212 hidden fees are egregious
Nice breakdown of the information.
Glad it was helpful!
Thank you for this! So helpful!
You're very welcome. Thanks for the comment.
Hello… since I can’t post my question twice, I hope you can read it and respond to it. It might be two questions in one.
I’m a veteran, and stay at home wife. My husband is also veteran. Before we got married, he bought a home with VA loan, which is our primary home. If we want to buy another home, can we use my VA loan using his income? Would we both be on the home loan since it’s his income?
Thank you, I appreciate your time and response!
I just subscribed and like this first video I’ve seen of yours. Blessings!
Good video.... But what's the update on VA Loans not having PMI anymore?
VA loans have never had PMI.
@@JebSmith oh my gosh! I never knew that!!
And I have been overwhelmed with so much information and research that video's like this helps a lot. Thank you 💜
And if you are 10%-100% disabled, the VA will wave your funding fee
Good Stuff, Jeb! Thanks for the video and your support of us Vets!
💯💯💯💯
VA loan is a great deal, but their requirements are stricter, and you can get bit in the butt by them. For instance, I went for a VA loan 1.5 years ago, and they require a termite inspection, and the home I was buying had minimal terminate damage, that was taken care of decades ago, and the previous homes owners that lived there for 30 years never had a problem. The problem here was, the terminate inspection company knew exactly what they were doing, and unless they treat the home, which is well over $1000, you are not getting the VA to give you that loan. And, in many states, including my state, the sellers must pay for the inspection and the treatment, and the VA will not give you a loan unless they do, and the receipt for inspection and treatment is in their name. So, the seller is out approx $1500 before closing happens.
Yes VA requires the termite to be completed but quite frankly it's not much different than most other offers as buyers are typically wanting termite inspections and clearance even using conventional loans. The only difference is conventional doesn't require it. I don't think that makes me a loans more stricter but rather a great requirement because the home has to be termite free upon closing.
@@JebSmith I get it, but in some states the seller must pay those costs per VA guidelines. An insect inspection company can come in and say whatever they want and require treatment, which is over $1000, and the seller MUST pay for that as well, otherwise the deal is off the table. Seller gets another VA offer, same things can happen, the seller must pay. As a seller, it’s a deterrent paying for a buyers service when the market is hot, and I have plenty of other offer.
As a recent borrower of a VA loan, I went through this, and many times a seller wants the buyer to pay for it, but the VA will not allow it, and they want to see receipts that the seller covered these costs, that could exceed well over $1000, and that doesn’t even guarantee a sale.
VA loan is a minimum of 24 months for active duty, 90 days applies for thing like medical discharge.
Yup, I was only in the navy for a little over a year before getting a medical/honorable discharge. I got my CoE+ funding fee waiver like 2 days after requesting it.
@@ATthemusicianwhere did you get the waiver
Excellent information 👍👏👏
Thank you.
🙏🙏🙏
I had a VA loan for a house years ago. My then wife divorced. The mortgage was on its way to being default. Now my ex wife paid the house off. My question: can I now use my VA loan again?
Honestly you have to check your entitlement and see...........I don't know how a potential default on VA affects your future eligibility.
@@JebSmith Who should I check with? The VA?
@@joecoffee968yes
You can, so as long as you didn’t use your full entitlement with the first house. I would contact a lender that specializes in VA loans, not the big banks like NFCU, USAA or Veterans United, a smaller loan officer that does high volume of VA loans, as these loan officers have seem many scenarios and would be in a better position to help answer your questions. Good luck!
This was an amazing and informative video. Thank you
Thanks so much my husband is active now and we will like to buy a house but we are not sure if it’s the right time w this prices
Excellent information
What about if you need the loan for remodeling? Would you recommend the loan for that or sonething else?
We just bought a house and we had to pay $2000 for house deposit and $6000 for closing cost.
Nothing free! Also my friend had to pay $9000 for there’s.
You can roll the closing costs into the mortgage. But yeah, you still gave to put down a few thousand in “earnest money.”
If low credit score can get you unapproved..... The entire Convo is false.... I could see if it increased a fee/deposit...... 👈👈👈From what I've seen.... If you ain't around 620 your not getting approved.
Some lenders have overlays requiring a specific score. The VA has no credit score requirement and there are some lenders out there that go by the VA guidelines. That means there are lenders out there doing VA loans with no minimum credit score requirement.
This facts it happened to me. The vet lender officer will refuse.
We got Luke Rockhold giving us financial advice now
🤦♂️
What happens if when I PCS and i need to sell the house but I can't get enough to cover the VA loan when selling?
I'm active duty and my wife is a vet with 100% disability. We will be using our va loan for the first time. Since my wife is 100%, will we have to pay the funding fee?
No I’m 100 percent
Thank that warfighter for her service
@@JohnVonCakes dude most of the people with disability in the military fake that shit or misuse it to get a check, I’m sure his wife is the same. So many people abuse the disability
No if you have a VA disability rating of 10% or greater you are exempt from the funding fee.
No. Have her request her CoE. If you have even 10% disability it'll show on your CoE that you have a waiver for the funding fee. I only had 30% disability when I originally requested my CoE and it stated that I have the waiver.
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@@JebSmithwhat are your opinions on Veterans United mortgage ?
Just want to let everyone know, AIT AND BCT DOES NOT COUNT as active duty
Couple things there chief. First, vets don't have a down payment because our time served is our down payment. I did 4 years and a 6 month tour in Iraq, I pretty sure that qualifies me or anybody else that served. Second, the 90 day thing is correct but if you were dishonorably discharged you don't qualify for shit. You must have a Honorable or under Honorable conditions discharge. I literally just talked to these guys a couple of days ago because I got pre-approved for a Va Loan. While I was waiting, I asked a bunch of questions and that's what they told me.
Thanks for your service.
What’s your point ? What was said in this video that makes you go on this rant ?
@LJ Thirty Fiver LOL that's my question... I served almost 6 years and no one ever explained the VA Loan as good as this guy.
"Thank me for my service" vibes. What a dueche
Glad I’m not the only one who noticed. My out processing was rushed lmao
Hey
Thanks for the video, can you please tell me how can i look for a good VA lender ?
Hi @666tinoco, to find a good VA lender, consider factors such as their interest rates, fees, and terms. Additionally, research online reviews, recommendations from friends, family or head over to
My son is a 1st year Marine 6+ months, can he by a home within his 1st year? Is there an income requirement?
The only income requirement would be having a good enough debt to income ratio
The VA will not give you a loan without having enough income
@@USAalltheway31how much income do they have to make
@@nenac.8783 if he isn’t receiving housing allowance which you typically don’t get unless you’re more senior in the Military typically at the end of the E-5 level or you’re married then he won’t have enough income to buy a home. I would suggest he focuses on putting as much money in his TSP as possible then down the line look at buying a home. Take into account home prices are the most expensive they have ever been in the history of our country right now
Can you buy-down the rate on a VA Loan and if so how much would you need to pay to buy down the rate 1 point on a $400K home? Thank You!
The amount a point costs is 1% of the amount borrowed. So for a 400k loan it would cost 4k.
Which companies are you referring to about charging more?
I had the same question?
probably USAA or Veterans united 🙃
@@veronicaescatiolacharging how much for? You have actual experience?
My husband is a vet, 30 years ago he used his va benefits and bought a home and paid it off. Now we won't to use it I'm his 2nd wife. It's been so long would he be considered a first time buyer or 2nd time. We're worried about the fee$ you mentioned. And we got 2 credit cards to improve lanes credit because our VA Broker said it would help and it made it drop bad
😢 HELP
Why can’t he use his VA loan now? Also if he’s 10%-100% disabled, VA waves the funding fee
Should I be looking for someone who specializes in Va home loans?
that would be a plus, yes!
@@JebSmithwhat specialists do you suggest? Do you do loans?
The Credit score still has to meet the lenders criteria... So you are misleading saying that you dont' need a credit score.. the VA does not loan the money. They ONLY guarantee the 25% LTV.
I just want $170 to 180. also can you buy a double wide with it.
My son is in the Navy for 2 years and is in E-3 he’s credit score is 660 he is trying to fix though but he wants to buy a house. Would he qualify also does he has to live in the residence for example he wants to buy a house for me and he’s sisters to live in but would that be ok or he would have to be living there.
Are there loans for first time homebuyers or other kind of loans. Or is it better to go the conventional route. I can afford to put down a 20% but just trying to figure out which way saves money in the long run.
if you have 20% then conventional is your best option.
@@JebSmith Are you saying a conventional loan and putting 20% down is better than a VA loan where you can put zero down? If so why?
@@thomasbradshaw4590 It’s not better. The 20% down payment is waived because your time served is your down payment.
Is there fine print that says “training days” do not count toward the 90 day AD requirement for eligibility? Thought I had read that before, just wondering.
Boot
What are the one of three names of the lenders?
you can figure it out if you just google Va lenders.
I did 3 years of Active duty and got honorably discharged and switched over to The National guard am I eligible?
It's possible...........Check your eligibility.
can a veteran get the loan with a non verteran? tenants in common?
Yes.....both do not need to be veterans
i have the va loan
💪
Sometimes you can’t use VA on condos
Correct.
Which type of condos can you use with Va?
Are you able to combine VA Loans with first time home owner grants?
no money down? That's BS - 780 credit score - 5A loans over 40 years and new loan this year BUT what a fiasco via PennyMac - baloney
Can you only use the VA loan once they don’t tell you shit before you get out
No, you can use it mutlipe times but it always comes down to how much entitlement you have left.
How is veteran's united???
Wouldn't be in my top 50.
Is there a way to get out of the funding fee?
The only way is you have to have at least 10% disability rating.
@@JebSmith awesome!! Thank you!
Also if you’re a surviving spouse whose husband died from service connected disabilities
Shout out to the VA for blocking my spouse if she remarries. That’s a real one.
😂😂😂
haha they will look out for you in at least one way!
Do I have to save money for closing costs? I’m 100 disabled vet and I want to buy a home in Texas but I don’t have money saved up. I plan on buying with no money down. Does anyone know if closing costs are added to my loan? Or do I have to have to have money for closing costs and pay upfront???? Please answer :)
No you won’t have to save any money for closing costs. being disabled, the VA will wave you funding fee…and the best benefit of all for you since you’re in Texas, is that because you are 100% P&T disabled, you won’t have to pay any property taxes. After purchasing your home, go to your tax assessor’s office and set that up, just bring your benefits verification letter that you can get from the VA app
You’re gonna need money saved for all the hidden fees that you will have to pay. I would save up 5-10k for this. If you can get approved. Im at 100% P&T none of that meant anything. If you dont have any money, youre fucked. All this no money down bullshit is a lie. I tried and got denied for everything. Im starting to think the va loan thing is a fantasy that sounds good to politicians but isn’t actually a thing. Even though i know vets that have gotten theirs with less income and worse credit than me, i kept getting denied. Now my family is stuck in an apt because of all this… the shit aint real.
@@robertpalos564thank you
You need to have money for the inspection and earnest money. Back in 2009, we had $3500 saved, and we only paid for the inspection, and you give some earnest money that at the end they give you credit for. I would say have at least 5k, then apply. Also, in San Antonio, TX, new home builders are giving better deals than if you buy a used home. They either buy back some interest, give you lower interest, or give you upgrades. Don't get discouraged and also look into new homes. Like they previously said, you will pay 0 property taxes. Making your payments even lower.
@@183-aD thank you 🙂🙂🙂
Hello friend
I have a question regarding employment. I've been a truck driver for the last two years, but I've switched trucking companies 6 times but no gaps in employment. Does that disqualify me?
No
As long as you have all the W2s and a good 2 year timeline it should be fine. What state are you in?
I think you will, back in 2009 we bought our first home and my husband (veteran). Had switch jobs 4 times during 2 year period. But he had been aircraft maintenance for at least 10 years.
We also went with a local broker company that helped us get the best loan.
@@emmettmortgage I'm in Texas
The funding fee is the PMI
I see where you're coming from but it's important to clarify that the funding fee and PMI (Private Mortgage Insurance) are not quite the same thing.
The funding fee is specifically tied to VA loans, a cost paid by borrowers to protect the lender in the event of defaults. On the other hand, PMI is an insurance that a borrower might have to pay if they have a conventional loan and make a downpayment of less than 20%.
@@JebSmith correct but the point remains the same. You do not have to pay a PMI but you do have to pay the funding fee. However if yo put 20% down on a VA loan do you still pay the funding fee?
0% No Money Down, but if you don't have closing cost, what good is NO MONEY DOWN???
Honestly if you don't have money for closing costs even if you don't need to use it, you probably shouldn't be buying a house.
@@JebSmithnot necessarily, a lot of veterans, especially the active duty ones have enough income to qualify to purchase a house and not necessarily have the savings for closing.
This is because active duty members move too often and not always get a chance to recover and build their savings back up.
If they’re moving to an area that nave a lot of new construction they should try to see what kind of incentives they have to help with the closing costs.
You can also work with an agent that’s willing to try to get the seller pay for the closing costs. It is just not guaranteed that they will agree to pay them for the house you pick.
Good luck!
@@doralhomesbybettygonzalez !!!!!!! We have moved twice in the past year!!!! It’s so difficult renting because sometimes move in costs are 5k+ because we’re Navy living in beach towns. We’ve forked out THOUSANDS of dollars every time we move, and can’t seem to catch a dang break where we can save for closing costs!!!! My brain is melting
@@lindseys8039 I completely understand the challenges and financial strain that comes with frequent moves, especially in high-cost areas like beach towns. It’s one of the reasons I always advise VA buyers to consider new constructions. These developers often have extensive experience with VA loans and can sometimes offer assistance with closing costs, which can be a significant relief.
In areas where new construction isn't an option or might be out of your price range, connecting with a realtor who is also a veteran can make a huge difference. We've been through similar experiences and understand the true value of the VA's zero-down policy and how crucial it is for military families trying to secure a home.
You and your spouse truly deserve to achieve your slice of the American dream, and finding the right agent is a key part of that. A dedicated agent won’t hesitate to negotiate on your behalf, including asking sellers to cover your closing costs. The right house is out there waiting for you and the right agent that's going to help you find it, is waiting for you to give them a call, too. Good luck, and remember, you're not alone in this journey.
@@doralhomesbybettygonzalez THISSSSS we are going through this right now
20 years ago I tried to apply for a VA loan and was refused. I had credit score in the 750s and now it’s in the high 800s. Anyways I ended up getting a 80/20 loan with zero down. I financed $100,000 paid off the house in 19 years and sold the house for $240,000. Fk the VA loans
Rockstar 🎉
Do you get mail there? Are the utilities in your name? Then yes, you technically live there. You are welcome!
Is veterans united good?
The easy answer is I would recommend getting another quote from someone else.
@@JebSmith what are some other good companies to get a quote for?
@@An_Enraged_Piggreat question we need a list from those with experience
Your local Mortgage Broker vs a national lender@@An_Enraged_Pig
I took out a loan in 2022 which cost me $6K just to get a conventional loan which is less than $200K.
I'm confused
Stressful
Its ridiculous that VA loan offers same APR rates as FHA loan.
We can help you out with any amount of loan you needs, just kindly burst our channel for more information 🎉
P&t vets are qualified as well
what do you mean, qualified, ? I am p&t
@@CatrinaBones it means that if course yes
@@CatrinaBonesfunding fee waived and 0% down
is it better to put in a downpayment if you have the money for a va loan? i don’t want to pay a very high monthly payment without a downpayment, the purchased price is almost $900k on a single family home. is there some advantages to put in a downpayment?
You can buy points which makes the monthly payments cheaper. Navy fed it's 4.5k for 1.5 points as of recently
@@mollymain6446NFCU fees are too much, they have points then an originating points which is 1 percent of the loan. i ended up going with someone else that specialize VA loans which is half the cost of closing cost and lower interest rate vs NFCU.
Depends on your goals. Putting more down will also lower your funding fee % if you are subject to one. Run the numbers and see whats possible. For my clients, I provide them a Mortgage Coach video that shows possible options.
@@emmettmortgageare you in Texas?
Florida @@GodGunsGills