December 11th, 2009

do you have to put a down payment down with the VA home loan ?

mpho the decoder asked:


what are the advantages of the va home loan and the disadvantages. like interest rates ?
even with the new changes in the housing market
even with the new changes in the housing market
even with the new changes in the housing market are veterans required to put down 20% like everyone else

This entry was posted on Friday, December 11th, 2009 at 6:46 am and is filed under Home Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

5 Responses to “do you have to put a down payment down with the VA home loan ?”

  1. ARMY STRONG! Says:
    December 12th, 2009 at 7:14 am

    Low interest rates and no down payment.

    SSG Schramm
    US Army 15 years
    OIF 2003

  2. desertviking_00 Says:
    December 12th, 2009 at 9:44 am

    No down payment. But, you will have to pay closing costs, unless you can work out a different deal with the seller. The main advantage is that it is a fixed-rate loan for a 30 year period. So, you won’t go through the belly-flopping ordeal that all of those folks with adjustable rate mortages (ARMs) are going through right now. They are the bulk of the foreclosures.

  3. usmc_fmf_doc Says:
    December 12th, 2009 at 1:51 pm

    No down payment needed. Me and my neighbors have at least one bbq a year for our block and we were talkin about how much we put down for our homes. I told them nothing you would have thought i stole their beer I was like yeah its good to be a Vet.
    Semper Fi

  4. joshbl74 Says:
    December 14th, 2009 at 7:30 am

    VA home loan does not require a down payment and it covers most of the closing costs, actually requires that they are paid by the seller. It does however have a :VA Funding Fee” that will be rolled into the price of the mortgage at closing. Usually what happens is that the vet pays nothing down and very little at closing but that most of these fees are added into the loan and financed over 30 years. It will allow the vet with no cash on hand to buy a house. After that you are on your own. Unless you default, then the VA pays off the loan and your not haunted by it forever.
    If you have some money there are better loan programs available especially if you are a first time home buyer.

  5. lexus23606 Says:
    December 16th, 2009 at 12:50 am

    Pretty good they will finanace everything from your points to closing costs and the rate is always very good. I bought my house on va loan back in 93 so it worked out for me, I would stronlg reccomend it.