Home Buying in Montebello>Question Details

Happy, Home Buyer in Ontario, CA

VA loan with no money down really possible??

Asked by Happy, Ontario, CA Tue Nov 6, 2012

Fiance is a veteran and we would like to purchase a home with no money down. Is this possible???

Help the community by answering this question:


Sheryl Arndt’s answer
Yes absolutely, I am a Veteran as well and love assisting Veterans. I only need to ask a few dozen questions to qualify you in minutes. I have a bank that VA no down payment loan is not fico score driven.

I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores. Here is a link and a needs list to gather for processing a loan approval. If your fiance's income isn't enough to qualify for reasonable amount, you may choose CHF Access half percent down payment program with a minimum 580 fico score which can also contribute towards your closing costs as well. You can by with minimum out of pocket expenses.


CHF Access half percent down flyer, pdf

Sheryl Arndt, standard needs list checked, pdf

Why Rent brochure

CHF Access income limits http://tinyurl.com/8lzf8he

Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
0 votes Thank Flag Link Mon Nov 12, 2012
Yes, I just got finished with a settlement here in Pennsylvania with a Veteran first time Buyer. My client did 100% financing and paid his closing costs at settlement.

A VA Loan is a great financing option for Veterans!

Please contact me with your real estate questions, buying, or selling needs here in Pennsylvania. Also, I will be licensed in New Jersey by the winter of 2013.

Alexis Jeffries
Liberty Bell Real Estate
Of Jenkintown
Office: 215-885-3332
DIRECT PHONE: 215-237-4147
0 votes Thank Flag Link Fri Jun 7, 2013
Just a heads up: in order for a VA buyer to have a cosigner you must be married. No exceptions.

With that, YES! Not only no money down, but all your closing costs may be paid by the lender.

I just closed a transaction for a veteran who not only put zero down, but all his closing costs came as a credit from the lender, in this case me. He actually walked away with $300.

You will be required to put an ernest money deposit down on the property. This is usually 1% of the purchase. Those funds may either be applied toward your closing costs or you may receive all back at the time of close. So, you may be given it as gift keeping in mind you will need to document its origin.

Please feel free to email me any specific questions as I am very familiar with the VA loan process.

0 votes Thank Flag Link Thu Nov 8, 2012
Yes - but....

Every transaction costs money. While the mortgage is a zero percent down mortgage, you should definitely have some cash at hand. It is wise for you to pay at least some of your closing costs...and you will have to pay for your own appraisal and property inspection. These things do cost money.

Although VA loans are a great option, buyers sometimes have difficulty getting these accepted when bidding against buyers with stronger down payments.

Good luck with your transaction. I suggest you meet with a loan officer familiar with VA loans and explore your options.
0 votes Thank Flag Link Wed Nov 7, 2012
Hi, Yes, VA loans are one of the few if any toher 100% finan cing loans available today. They are guaranteed by the government. They do have specific criteria your spouse and the property chosen will have to meet in order to qualify.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
0 votes Thank Flag Link Wed Nov 7, 2012
Many unmarried vets purchase homes. A lender will be able to determine if your SO's income can be used to help qualify for the loan in addition to your income.

I have lenders who can assist.

Nick Socha
C21 Amber
DRE #01831473
0 votes Thank Flag Link Wed Nov 7, 2012
Qualifications for VA loan?? do we have to b married?
0 votes Thank Flag Link Tue Nov 6, 2012
Yes, I have several lenders who do VA NO NO loans.

Nick Socha
C21 Amber
DRE #01831474
0 votes Thank Flag Link Tue Nov 6, 2012
Flag Tue Nov 6, 2012
Yes. Most of the time only $500 is usually required if your Fiance qualifies.
0 votes Thank Flag Link Tue Nov 6, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer