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Hello everyone, and thanks for your answers , I wish to bring up the subject of a va loan vs fha and your

experiences. Thanks from Ron
Fri Mar 7 2008, 22:45 - San Diego - Agent2Agent - 4 answers
 
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Ron
Real Estate Pro
in San Diego
Ron, Real Estate Pro in San Diego in San Diego
Answers (4)
Show me:  Recent Answers     Oldest Answers     Highest Rated  
 
Pam Winterba… was FIRST TO ANSWER
I like VA if the buyer can get it. They are a little tougher on everything ....documentation, appraisal, timeframes in my opinion. I'm just the realtor not the loan officer. However they can get in still with zero down on VA whereas FHA requires 3% and soon 3.5% down. Interest rates on VA seem lower too. Seems like lots of lenders try to steer people away from VA, but seems like the best deal if you can get it. I say find a lender that specializes in VA loans or knows them inside and out. When you do stick with them. I think the loan officers that steer people away from them don't know the system and perhaps there is more money to be made on FHA.

Thu Aug 14 2008, 12:53
Web Reference: http://www.teamlynn.com
 
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Here is an alternative to going the traditional routes. Private $$$ makes it feel like SUB-PRIME never went away.

Check it out:
https://www.weprovidethecash.com/index.php?id=Chrissy

Thu Aug 14 2008, 08:22
 
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Hi Ron,
Just wanted to tell you about a recent exprience, my Buyer was VA approved, we submitted an offer on a REO, our offer was 12k more than the other offer. The bank accepted the lower offer because they could close quicker. My understanding is that a VA loan takes 40 - 45 days to close, whereas the FHA you can do in 30 days. Just something to consider when writing up offers on REO's.

Sun Mar 9 2008, 10:35
 
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FIRST ANSWER
Ron....

What would you like to know about them? Most of us haven't used them in quite a while and now that the loan limits have increased they are attractive.

Great for buyers. Taxes and insurance need to be impounded, no exceptions. Sellers must have the property in good repair, provide pest clearance and sometime a roof. They take a bit longer to close and sometimes the seller pays some of the required closing by FHA or VA/.

With a VA you can do a VA/NO/NO. Buyer can walk in with no money down or closing if the seller picks up all the costs.

Sat Mar 8 2008, 10:21
 
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