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Old 11-07-2015, 02:17 PM   #21
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I was thankful to the VA when I had to short sell my house back in 2005. Only issue now is that I can't use the VA again without paying back the debt. My most recent purchase was 0% down USDA loan, so pretty much the same deal. Wish I still had the option of my VA, but can't afford to pay back the $29k debt. Just thankful they were there for me when times were hard.
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Old 11-07-2015, 10:32 PM   #22
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I was thankful to the VA when I had to short sell my house back in 2005. Only issue now is that I can't use the VA again without paying back the debt. My most recent purchase was 0% down USDA loan, so pretty much the same deal. Wish I still had the option of my VA, but can't afford to pay back the $29k debt. Just thankful they were there for me when times were hard.
Itís great you found another solution! But..

You may be able to get around it with bonus entitlement. If your loan amount is over 144k, bonus entitlement kicks in and may overcome the deficit of your lowered entitlement. USDA has higher rates, and monthly mortgage insurance, so VA is still a much better option.

If anyone has specific questions, or is in the market to buy or refi and wants a quote I am always available to you! Just give me a shout.
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Old 11-24-2015, 09:54 PM   #23
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That's good to know. Finally sold my home in NC about 2 weeks ago. Not sure when I will be looking to buy again.
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Old 11-25-2015, 10:12 AM   #24
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That's good to know. Finally sold my home in NC about 2 weeks ago. Not sure when I will be looking to buy again.
Yup. Basically, make sure its more than 144k and you got a chance.

http://www.benefits.va.gov/HOMELOANS...n_examples.pdf
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Old 11-26-2015, 01:13 PM   #25
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O.k. so looking at those examples.

We used our VA certificate in 1998 for 74K on a house. That loan is paid in full now and we own the house outright but we are wanting to use the certificate again.

We have bought property for 135K recently and will work with a builder on a construction loan to be wrapped up in the total for the 417K (basically a 282K structure of primary residence) which is the county limit where we are building.

What is considered restored and not restored? How did the first purchase effect my overall benefit?
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Old 11-26-2015, 08:29 PM   #26
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O.k. so looking at those examples.

We used our VA certificate in 1998 for 74K on a house. That loan is paid in full now and we own the house outright but we are wanting to use the certificate again.

We have bought property for 135K recently and will work with a builder on a construction loan to be wrapped up in the total for the 417K (basically a 282K structure of primary residence) which is the county limit where we are building.

What is considered restored and not restored? How did the first purchase effect my overall benefit?
If the house is paid off a VA direct lender (like me) can get the certificate immediatly.

As for the construction loan is the builder financing the construction, and you plan on using a VA loan for the "end loan" to pay them off?
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Old 11-27-2015, 05:47 PM   #27
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If the house is paid off a VA direct lender (like me) can get the certificate immediatly. O.k. Thanks!

As for the construction loan is the builder financing the construction, and you plan on using a VA loan for the "end loan" to pay them off? Yes
But regardless of the previous loan that is paid in full I can get the 417K VA loan in the end after the construction. Correct?
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Old 11-28-2015, 11:19 AM   #28
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But regardless of the previous loan that is paid in full I can get the 417K VA loan in the end after the construction. Correct?
You could potentially get more. The VA techincally has no cap. If its over the county limit, you just have to use the VA high Balance loan calc to see what you can do.
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Old 03-08-2016, 04:12 PM   #29
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Rate have dipped- and with new FHA MIP people are saving great money even at the same rate!

Also if you are looking to purchase a home, give me a call. We now have a friends and family program which will take care of some closing cost!
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Old 06-14-2016, 12:34 AM   #30
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I wish I looked on here a little while ago, I am purchasing a house in PA closing in mid July. Unfortunately deployed to Afghanistan until mid Aug. I at least was able to get the funding fee waived and closing costs are only around 8k.
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Old 06-14-2016, 09:59 AM   #31
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I wish I looked on here a little while ago, I am purchasing a house in PA closing in mid July. Unfortunately deployed to Afghanistan until mid Aug. I at least was able to get the funding fee waived and closing costs are only around 8k.
No worries. Congrats! I'll send you a PM
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Old 07-26-2016, 08:54 AM   #32
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Bump as the rates have about bottomed out again! Please PM me if your looking to buy or Refi with a VA cert. direct lender you can trust!
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Old 01-11-2017, 11:13 PM   #33
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Bump for FHA's MIP reduction. This really helps everyone, but will be a big saver for many with current FHA loans. If you want to run numbers, send me a PM!

http://www.cnbc.com/2017/01/09/feder...this-year.html
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Old 01-12-2017, 10:34 AM   #34
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Subscribed.. I'll be looking for a house after a 6month tour in the Marshall Islands
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Old 01-12-2017, 12:26 PM   #35
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Subscribed.. I'll be looking for a house after a 6month tour in the Marshall Islands
Sounds great! thanks for your service, and I look forward to working with you.
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Old 01-12-2017, 11:09 PM   #36
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Maybe sooner. I decided to move back home to upstate NY for a more stable and longer term position at an Army Arsenal .. I'll pm you number. I'm a 1st time buyer aswell
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Old 01-15-2017, 07:46 PM   #37
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Maybe sooner. I decided to move back home to upstate NY for a more stable and longer term position at an Army Arsenal .. I'll pm you number. I'm a 1st time buyer aswell
Sounds great. I'd be happy to walk you through the process.
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