Discussion in 'On Topic' started by tunes, Jan 10, 2010.
Anyone have any good stories with it? horror stories?
Using it right now. The VA's local appraiser has been a flakey pain in the ass. Delayed closing twice due to not going to the house when scheduled or not returning calls. Other than that, the VA has been fine. They were very prompt in processing my paperwork when applying for the benefit.
USAA has been more of an issue than the VA has been, but I think that was just my mortgage representative. A friend had a flawless experience with USAA for the loan.
Hoping to close this week.
I've used it twice to purchase homes thru USAA.
Wonderful experience - I plan on doing it again.
you guys put money down or use the 0% feature of it? It will be our first home to buy when i PCS out of UPT in a few months...and since we are a young married couple we only have about 9k right now in our "rainy day" fund
I put $0 down. I could have put down 10% or so and may still later, but going to see what I have left after furniture and stuff is bought.
If you don't have the downpayment you need to secure a good rate... or a loan at all for that matter, it's a great deal man. But once you have the credit/financial backing to refinance you should do it ASAP to get that percentage point back.
0% and a fixed 30 year rate.
Paperwork took all of 2 hours of my life and I had a new home.
who did you get the actual loan through? USAA?
They have a wonderful VA program.
You can call them, explain that you're looking for a home in a certain area and they'll give you a list of local agents that work with USAA.
OR . . . you can find a local agent of your own to work with . . . but there are rebates and allowances if you stick with a USAA approved agent.
Awesome...still a month out of finding where we are going but this is good to prep now. Thanks
Glad I could help! Good luck with your house hunting!
THE only reason to use a VA loan is because you don't have enough down payment to satisfy the bank in the absence of Private Mortgage Insurance.
I got 4.75% on my mortgage. Not sure how much better I can do.
Movers Advantage program. They set me up with my agent who has been absolutely fantastic. I will get like $700 from them for buying a house through them and another $150 for using USAA Mortgage. All of that on top of the first time buyer tax credit. Give them a call or fill out the form on the website. Somebody will contact you fairly promptly.
It is worth it, the VA funding fee is far less than a down payment or mortgage ins.
I am exempt from the VA funding fee since I have a service-connected disability.
we have bank, cc, vehicle insurance, auto loan, renters insurance through USAA
I wouldnt get my loan through USAA.
They arent really known to be a big mortgage lender and I think you would get better rates elsewhere. Insurance through them is great. I bank with them for the ease of it but you can get better rates elsewhere.
I would try to find the best rate and go that route, it will eventually be bought out by one of the big dogs most likely anyhow.
This is my first home purchase, but I don't think the size of the company has anything to do with the rate.
I got whatever the going 30 year fixed rate was. It would have been the same if I got my loan from USAA or from Bank of America or whoever.
Certain lenders can offer better rates.
I forgot who it was but he was an oter who was helping me with my refinance and I was offered 4.5 and he was all dumb founded on how I was able to get such a low rate as the best he could do that day was 4.75.
Never seen that before.
ended up waiting a bit and got in at 5 from 6.