SVT Lurch Strikes Again..

[AdamLX]

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.

First time is 2.15%, second time is 3.30% and you are exempt from paying it if you have 10% or higher disability. That's based on <5% downpayment.

[ceyko]

We busted the seller's balls on my current home - thinking the VA inspection would fail due to a couple of things. Things we wanted gone anyway, but the seller's refused unless it failed.

Both my Realtor and I thought so, but the VA passed it without issue.

Owning an acre or more is more work, but worth every bit of it. Almost wish I bought the place that had 6 acres for the same price, lesser home - most of it was woods with a creek and a huge bank. Perfect for shooting. Just the seller was present when I was there and seemed WAY desperate to sell. I mean DESPERATE.

[kingjason]

We are waiting on appraisal right now and are set to close the 20th. Trey got us a fantastic rate and has been great to deal with. I like a one income household and now that the wife graduated and will be working soon it will just add to the pot. I actually may try to pay it off in less then 5 years but I always like to play the what if game.

[Sgt Beavis]

We are waiting on appraisal right now and are set to close the 20th. Trey got us a fantastic rate and has been great to deal with. I like a one income household and now that the wife graduated and will be working soon it will just add to the pot. I actually may try to pay it off in less then 5 years but I always like to play the what if game.

Yea, I'm paying off my wife's car and our adoption loan this summer. That will free up over a grand extra a month. It's going on the house with any other money I can spare. We're cutting back on a lot of things like eating out (which we do WAYYYYY too much). I want to pay this thing off quickly. I'm even thinking of selling the BMW to get rid of the payment, but I'm not 100% sure I'll do that yet...

[Vertnut]

Trey's a very knowledgeable, nice guy. Answered about 125 questions (LOL!) I had about various scenario's. We're waiting on 2 different offers on our existing home, and are looking to down-size out by the lake in Rockwall. We just need to find the right place.

[SVT Lurch]

Thanks for the thread Rick, I appreciate it. Good referrals are important when that's your only source of business.

Thanks to the rest of you for your kind words as well. I'm glad I was/am able to help.

[KBScobravert]

Are current VA loans able to be refi'd without proof of income if we have 20% equity in the home already? Or is it possible for no docs to get in under 3.75% with a 780+ credit rating?

[SVT Lurch]

To my knowledge there aren't any true "no doc" loans out there at the moment. Depending on who currently services your loan you might qualify for a streamline refinance which can require as little as pay stubs for credit documentation. I haven't done one since 2009 so I would need to know who currently holds your note and look up their guidelines. The rate should be doable either way (streamline or not).

[KBScobravert]

Flagstar Mortgage