Is there a such thing as a VA loan....?

Asked by Buyerinsac, Sacramento, CA Sat May 17, 2008

....with 1% origination, no YSP and no points? I've been told that this is what I should ask for and expect, but I can't find anyone who does it.

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Sue Archer R…, Agent, Palm Harbor, FL
Sun May 18, 2008
I have about three different lenders that I work with consistently on VA loans. In fact I have two buyers with VA loans that just closed this last week....100% financing and actually one buyer had a 10% disability so the funding fee was waived. There is a difference between Calvet loans and VA loans and you should look at both to see which meets your objectives. These loans both closed around 5.5-5.75%...lower than conventional rates.

Sue Archer
Realtor, GRI, ABR,SRES
The Galster Group
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Buyerinsac, Home Buyer, Sacramento, CA
Sat May 17, 2008
Erin: Thanks for the info. I'll contact one or both of them.

Frank: Those are funding fees.

Origination is limited to 1% by the VA.
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Erin, , South Lake Tahoe, CA
Sat May 17, 2008
Hi--I would recommend that you call Jim Crawford at Big Valley Mortgage. He can answer your questions about VA. (916)960-1300 X311. Another good resource is Chris Carter at Mortgage & Investment Consultants at (916)616-0020. If they can meet you criteria, they will.
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Frank Diaz, Agent, Honolulu, HI
Sat May 17, 2008
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