Anyone use their VA home loan entitlement? - GM Forum - Buick, Cadillac, Chev, Olds, GMC & Pontiac chat


Lounge For casual talk about things unrelated to General Motors. In other words, off-topic stuff. And anything else that does not fit Section Description.

Reply
 
 
 
Thread Tools Search this Thread
Old 01-28-2007, 11:46 AM   #1
Senior Member
True Car Nut
Thread Starter
 
Join Date: Aug 2004
Location: In your garage, swipin' da lug nutz
Posts: 3,067
Thanks: 0
Thanked 0 Times in 0 Posts
sandrock is on a distinguished road
Default Anyone use their VA home loan entitlement?

I am in the process of looking and narrowing down houses, all within my projected payment range. I have already sent off for my certificate of eligibility, so I should be getting that in a few weeks. I would like to know how the process all works out though, since I would be a first time buyer Here is what I do know:

1) It isn't a loan, it'* a guarantee on a loan, and only up to a certain amount.
2) Unless I get hitched with Karen, they cannot count her income.
3) I am 50% service connected disabled, so I am sure most of the fees that would normally pay with a VA loan are waived (like closing costs) and/or capped.

I am finding out that buying a home is an overwhelming experience, esp. if it is a first-time deal. And though I don't have a bad paying job, it still isn't enough to help with building a savings account, so the VA loan looks good in that aspect as well. I am basically asking how long it took, from start to finish, using a VA loan...what all is involved, etc.
sandrock is offline   Reply With Quote
Old 01-28-2007, 01:45 PM   #2
Junior Member
Posts like a Ricer Type-R
 
Join Date: Aug 2002
Posts: 10
Thanks: 0
Thanked 0 Times in 0 Posts
willwren is on a distinguished road
Default

I drove to Portland (an hour away) and got my certificate in an hour. It'* a guarantee. Basically makes a bank or loan company more likely to finance you.
willwren is offline   Reply With Quote
Old 01-28-2007, 04:49 PM   #3
Senior Member
True Car Nut
Thread Starter
 
Join Date: Aug 2004
Location: In your garage, swipin' da lug nutz
Posts: 3,067
Thanks: 0
Thanked 0 Times in 0 Posts
sandrock is on a distinguished road
Default

I had to send off for mine...gotta go through Winston-Salem, and I heard they take their sweet-a$$ time from somewhere. Just to help it along a bit, I overnighted it and not only included my DD214, but also the disability award letter.

Bill, how strict was the inspection for the home?
sandrock is offline   Reply With Quote
 
 
Reply

Related Topics
Thread Thread Starter Forum Replies Last Post
ANy ever use shield on their replacement brake pipe? GunsOfNavarone General GM Chat 0 06-21-2010 01:13 PM
anyone ever use Seafoam or GM top end cleaner in their motor fatboyq General GM Chat 20 01-29-2006 12:23 AM
Why don't people use their turn signals? SignOfZeta General GM Chat 35 04-12-2005 11:17 PM
Anyone ever had to use their Onstar? Baileyjack General GM Chat 0 07-08-2004 08:45 AM
17's found their home.... BonneAlien Your Ride: GM Pictures & Videos 10 12-25-2003 01:56 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 01:23 PM.


We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.