Can I have a 100% loan for a house that I am going to purchase NOW as I will retire from the military in January 2013.?

Asked by tracylim48, Von Ormy, TX Sat Sep 8, 2012

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Suzanne MacD…, Agent, Morristown, NJ
Sat Sep 8, 2012
If you plan to move into the home as soon as you retire, then I would start looking now. USDA loans are 100% financing and you would be amazed at how many areas qualify. You really only have 4 months to find a home, go through the 45 - 60 day negotiation process start to finish (from offer to closing) and move in, so there is not a lot of time to look. Yes, I would begin the purchase process now.
1 vote
Barbara Coker, Mortgage Broker Or Lender, San Antonio, TX
Sat Sep 8, 2012
You can buy with your 100% VA loan, but with your ETS less than 1 year after closing, we'd need to use your retirement income to qualify. If your spouse works, we could use that income too.
When would you plan to actually occupy the home?
Barbara Coker
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas
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Dallas Texas, Agent, Dallas, TN
Sat Sep 8, 2012
I always recommend for person who is a VA contact mortgage broker to review your loan application.
THANK YOU for serving our country !

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
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Steve Johnson, Agent, Spring Branch, TX
Sat Sep 8, 2012
You can go to this link for USDA loans ( Once you go to the site all you have to do is type in the address and it will tell you weather or not the property qualifies for USDA. I am pretty sure that if the property is in Von Ormy, it is most likely USDA. The other option I have had before is to go VA and ask seller to pay closing costs. The risk with the VA loan is the property would need to appraise for total amount includung what you would be asking the seller to contribute. Now day I am seeing more and more concervative appraisers which could potentially ruin a deal. I am showing property today out in La Vernia and I do quite a bit of rural real estate, please dont hesitate to let me know if I can help.

Steve Johnson
Prudential Don Johnson Co. Realtors
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