Lenders in Maine/VA loan also possible

[Ruth P.]

Does anyone know of any lenders in Maine? I am a first time homebuyer, thinking about using my VA status to get a VA loan, although I may still want to put down 20%. I am interested in single family or a duplex in Lewiston/Auburn or perhaps other parts of Maine as well, like Augusta. Coming from California and looking in the lower priced areas that would also fetch tenants.

Also, what are the benefits of a VA loan besides being able to put no money down? Lower interest rates?

Also, a realtor once told me that sellers don't like selling to people with VA loans because supposedly the VA doesn't want to approve loans for fixers, or even TLCs; they are extra picky about the shape of the house, I guess more than non-VA lenders (?)... Thanks all!

[Robert Beardsley]

VA loans from what i seen have better interest rate. i used mine with a lender from auburn/Lewiston area ill PM you the information. i would say a VA loan my be less desirable for some sellers but i have never had an issue with it. i just closed on a 4 unit using mine.

[Ken B.]

@Ruth P. Hi Ruth, Like you I'm from ca. and definitely going to purchase in Maine. My sister is there. I have a great Broker from Maine and he set me up w/filters to find a residence. Then he'll refilter for my vehicle/strategy after I move there. A good possibility could be to house hack (2 thru 4 units using V.A.) and end up living free while you organize. Plus, put zero money down using your V.A. as I've done. My broker is BP and very smart and very detailed and I'm quite sure he knows the best lenders. As far as V.A. loans go I got the seller to pay all fees (closing costs). My broker set me up w/filters from Kittery to Belfast. I use C.A.F.R.'s initially but do to the virus that's definitely not applicable at this time. Also, my V.A. loan is at 2.9% currently. Very true that V.A. loans are theoretically for move in ready homes. Haven't heard of a fixer loan via V.A. but I could be very wrong. Anyway, I use mine for residence only. I hope I'm helping you somewhat. We're both doing the same thing and I feel good about it. Respectfully, Ken Bailey

[Charlie MacPherson]

@Ruth P. When I recently bought my home in China (not THAT China), I used RMS mortgage out of Brunswick, ME.  My agent was Cathy Flaherty and I was very happy with their performance.

She can handle VA, USDA and FHA as well as conventional loans.

DISCLOSURE: I have no relationship with Cathy Flaherty or RMS mortgage except as a satisfied customer.

[Ruth P.]

Thanks everyone!  

[Chris Cogan]

Amber Aucoin is great from Fairway independent mortgage Corporation

[Ruth P.]

Thanks Chris!