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VA loans?
I know VA have loans for housing, but what about for personal loans? I tried calling VA, but I can't talk to a human being. The website keep giving me error messages when I try to ask a question. Thanks.
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I'm pretty sure it's only for housing. There are some restrictions too. For instance, you have to live in the house you use the loan for for a certain amount of years. In other words, you can't use it to buy an investment property right off the bat.
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And each time you use it, the user "fee" increases; normally rolled into your mortgage though. It's really best used for a single purchase on a house that you plan on living in for the next 30 years.
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It's not even a VA loan. It is a VA guarantee of the loan. The VA will Pay about $40,000 if you default and your house gets forclosed on, then the govt will collect it from you.
The best part is you don't have to put anything down and you dont need mortgage insurance. That can save you thousands over the life of the loan |
Here's info..
http://www.military.com/veterans-rep...-08?ESRC=vr.nl |
FYI...you don't pay a funding fee if you're getting disability compensation from the VA.
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Originally Posted by Philip J Fry
(Post 366026)
FYI...you don't pay a funding fee if you're getting disability compensation from the VA.
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