SVT Lurch Strikes Again..

[Sgt Beavis]

Trey really came through for me in the last few weeks. My wife and I are buying an older home in Denton. It's a bigger house with an acre. I went to two other lenders for quotes and Trey beat them all out. Not only that, but he has really done a lot of hand holding while we worked through the complicated VA Lending process. He was the ONLY lender that asked for my DD214 in advance and went to find out how much of a VA loan benefit I had left. He was the only lender that was able to determine that I could buy the new house while still trying to sell my old home...

We were fortunate in that we sold our old home in just 11 days. Now Trey has us locked in to a really good rate (I have great credit). The new house is $210000 and our old home was $140000. That rate means we are only paying about $100 more a month than we are now.

There was some concern about getting the appraisal on the new house because of it has a 1/2 acre lot in the back that is an easement. It gave me some sleepless nights since I had already sold my current home. However the appraisal came through yesterday and everything is looking great. We close next Wednesday and are moving on the following Friday.

I just wanted to publicly thanks SVT Lurch for all his help on this. He really helped us to make this happen.

BTW, you're doing yourselves no favors by waiting to buy a new home or refi.

[Vertnut]

Is that on a 30 year, and what percentage down?

[Sgt Beavis]

Is that on a 30 year, and what percentage down?

Yea, that is a 30 year.. 0% down because it is a VA loan..

[01vnms4v]

Pics of new said balla home

Congrats as well.


I just refi my casa to 2.9% for 15yrs down from 5.4% that was left with 18yrs from a 30yr note.

Forget going through 30yrs again I want mine paid off

[beefed88]

Don't you listen to Dave Ramsey? 15yr only.

[joes01bullitt]

Great to know! Ill be in the market in about a year or so....

[Cannon88]

$210k? Is that just the guest house or something?

[Danny46]

Very cool! VA Friendly huh? Will keep this guy in mind, sounds top notch

[Lone Sailor]

+1 for Trey. He's the man when it comes to mortgages and refinancing.

[Sgt Beavis]

Very cool! VA Friendly huh? Will keep this guy in mind, sounds top notch

At the very least, he was more knowledgeable about the VA lending process than the other lending officers I checked out. One person told me that I wouldn't be able to get a loan for the new house until my old one had been sold. Trey was the only one that knew to check the actual limits of my VA loan benefit. That told him that I could have two loans at the same time.

Fortunately it ended up no mattering since my home sold so quickly, but it was good that he was looking at all my options from the beginning.

[Sgt Beavis]

$210k? Is that just the guest house or something?

Yea, I know it's not very DFWBallerish but it's not bad for about 2500sq ft and one acre in the middle of Denton. It was originally listed for $230K

[Couver]

Trey and Nate for the win every time.

Trey was out on the leading edge of my VA loan to the point of sending me the links to the websites I needed for forms. I am in the military and learned from him. Then he got us a great rate.

Congrats on the quick sale and new house before that one was snapped up.

[red95gts]

If you can swing it, putting down 5%+ on a VA loan drastically reduces the VA Funding fee amount. VA re-structured their fees last Oct and they are giving people some incentive to have some skin in the game.

Congrats on selling the old home so quickly!

[red95gts]

http://www.vamortgagecenter.com/va-funding-fees.html

Savings is bigger if this is the 2nd time you've used the benefit. It saved me roughly $4500 in closing costs by putting down $5%.

Good Luck!

[Lone Sailor]

If you can swing it, putting down 5%+ on a VA loan drastically reduces the VA Funding fee amount. VA re-structured their fees last Oct and they are giving people some incentive to have some skin in the game.

Congrats on selling the old home so quickly!

IIRC, if this is his first time using VA for a home loan there won't be a funding fee. Or maybe I'm thinking of something else.