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Is there a such thing as a VA loan....?
....with 1% origination, no YSP and no points? I've been told that this is what I should ask for and expect, but I can't find anyone who does it.
Sat May 17 2008, 01:02 - Sacramento - Financing - 4 answers
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| Frank Diaz was FIRST TO ANSWER | ||
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BEST ANSWER
I have about three different lenders that I work with consistently on VA loans. In fact I have two buyers with VA loans that just closed this last week....100% financing and actually one buyer had a 10% disability so the funding fee was waived. There is a difference between Calvet loans and VA loans and you should look at both to see which meets your objectives. These loans both closed around 5.5-5.75%...lower than conventional rates.
Sue Archer Realtor, GRI, ABR,SRES The Galster Group (916)847-9686 Sun May 18 2008, 19:17 Web Reference: http://www.suearcher.com
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Erin: Thanks for the info. I'll contact one or both of them.
Frank: Those are funding fees. Origination is limited to 1% by the VA. Sat May 17 2008, 09:28
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BEST ANSWER
Hi--I would recommend that you call Jim Crawford at Big Valley Mortgage. He can answer your questions about VA. (916)960-1300 X311. Another good resource is Chris Carter at Mortgage & Investment Consultants at (916)616-0020. If they can meet you criteria, they will.
Sat May 17 2008, 07:54 Web Reference: http://SoldByErin.net
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FIRST ANSWER
I didn't know it went down to 1%
http://www.homeloans.va.gov/docs/funding_fee_tables.doc Sat May 17 2008, 02:35 Web Reference: http://www.homeloans.va.gov/faqpreln.htm
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