Anyone use their VA home loan entitlement?
#1
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Joined: Aug 2004
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From: In your garage, swipin' da lug nutz
Anyone use their VA home loan entitlement?
I am in the process of looking and narrowing down houses, all within my projected payment range. I have already sent off for my certificate of eligibility, so I should be getting that in a few weeks. I would like to know how the process all works out though, since I would be a first time buyer Here is what I do know:
1) It isn't a loan, it'* a guarantee on a loan, and only up to a certain amount.
2) Unless I get hitched with Karen, they cannot count her income.
3) I am 50% service connected disabled, so I am sure most of the fees that would normally pay with a VA loan are waived (like closing costs) and/or capped.
I am finding out that buying a home is an overwhelming experience, esp. if it is a first-time deal. And though I don't have a bad paying job, it still isn't enough to help with building a savings account, so the VA loan looks good in that aspect as well. I am basically asking how long it took, from start to finish, using a VA loan...what all is involved, etc.
1) It isn't a loan, it'* a guarantee on a loan, and only up to a certain amount.
2) Unless I get hitched with Karen, they cannot count her income.
3) I am 50% service connected disabled, so I am sure most of the fees that would normally pay with a VA loan are waived (like closing costs) and/or capped.
I am finding out that buying a home is an overwhelming experience, esp. if it is a first-time deal. And though I don't have a bad paying job, it still isn't enough to help with building a savings account, so the VA loan looks good in that aspect as well. I am basically asking how long it took, from start to finish, using a VA loan...what all is involved, etc.
#3
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Senior Member
True Car Nut
Joined: Aug 2004
Posts: 3,067
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From: In your garage, swipin' da lug nutz
I had to send off for mine...gotta go through Winston-Salem, and I heard they take their sweet-a$$ time from somewhere. Just to help it along a bit, I overnighted it and not only included my DD214, but also the disability award letter.
Bill, how strict was the inspection for the home?
Bill, how strict was the inspection for the home?
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