kajemarine15 asked:
Does anyone know if you can get a VA home loan as your mortgage and then apply for and use federal/state/local first time home buyer grant money for the down payment? I know there are a lot of first time home buyer programs out there, but which ones can you combine with a VA home loan?
Donald
Does anyone know if you can get a VA home loan as your mortgage and then apply for and use federal/state/local first time home buyer grant money for the down payment? I know there are a lot of first time home buyer programs out there, but which ones can you combine with a VA home loan?
Donald
Sam
VA loans can be for 100% of purchase price. USDA loans can be for 100% of purchase price, plus closing costs. That is, is property appraises high enough.
No, you can not use a state/local subsidy for a VA or a USDA loan.
Comment by FRANK R — May 15, 2009 @ 5:05 am
Johnny
You may be better off going FHA, you can use the grants and won’t get destroyed by the VA guidelines. I’m hearing a lot of negatives about the VA programs right now, I would look into FHA as well and calculate the grants in and see which one is more beneficial, good luck
Comment by Jeromy W — May 16, 2009 @ 10:50 am
Rafael
VA home loans are a unique way of extending support to the US war veterans, who committed their lives in safeguarding the interests of the country. Therefore, understanding these loans is beneficial. VA housing loan program provides financial assistance to veterans so that they can purchase home at a favorable rate of interest and convenient loan terms. Loans provided by the VA are fixedproperty in a safe locality. Next, the veteran has to go to a lender and apply for a home loan. VA guaranteed loans are provided by private lenders that include banks, mortgage companies and savings and loan associations. No prepayment penalties and long amortization terms are another advantage of these loans.
Comment by Selene — May 17, 2009 @ 12:29 am
Gregory
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thanks,from anais willy.
Comment by Anais Willy — May 20, 2009 @ 1:10 am