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If you used your VA LOAN to buy a house or your husband please answer questions

We dont have any money saved. (please no talking BS about it) we just dont period, He doesnt make enough to pay the bills, buy food, pay for gas etc.. Thats why he is getting out of the Army. He already enrolled in WyoTech School in sacramento, california. If we buy a house we qualify for but with no down payment how does that work? Yes i know its more a month to pay but DH said its 1% which is a $100.00 he said LOL. i know hes wrong or something. That makes no sense. Who can i call to ask questions?

Answer Question

Asked by Anonymous at 9:27 PM on Feb. 13, 2011 in Money & Work

Answers (5)
  • not sure hun but all of my friends that were in the military never could make ends meet

    Answer by suhweetness at 9:29 PM on Feb. 13, 2011

  • You need to talk with a realtor or mortgage agent in your area. It could be points that he is talking about. 1% would be $100 if you were getting a loan for $10000. So you are right it does not seem right. The rates are low now, they will tell you what you will likely qualify for.

    Answer by tootoobusy at 9:33 PM on Feb. 13, 2011

  • Can't answer your question, but did get a good chuckle out of how is worded....VA Loan to buy a house or your husband.....

    Good Luck.

    Answer by twinsplus2more at 9:33 PM on Feb. 13, 2011

  • Go talk to the bank loan officer or call the military one source.

    Answer by DevilInPigtails at 9:34 PM on Feb. 13, 2011

  • We bought our house on dh's VA benefit, also with no down payment. It's really easy. Hopefully I'm remembering this all in the correct order, we bought in 2007. First we called the local VA loan office, you can get their number on their website plus lots of info on the process. They get your certificate and preapproval. Then I believe we contacted a mortgage co for loan preapproval. After that your ready to shop! As far as the payments, it just depends on the price of the house. Since you know the monthly payment will be a little more with no down payment, plus taxes and insurance, just shop for a cheaper home. Get a monthly payment you can afford in your head and don't buy a home that doesn't fit your budget. Good luck.

    Answer by Astraea_79 at 10:16 PM on Feb. 13, 2011

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