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Updated over 2 years ago,
VA with no money down getting beat by all cash offers
My wife and I are approved for a VA loan to owner occupy a property up to $500k but I am losing out to all cash offers. Work history is over 3 years on my job, 10 on hers for the same doctor, my credit score is a 720 due to ~$7200 no interest credit card debt. Before that debt it was 793. We currently have a home we paid $125k for 5 years ago and have $60k left on our principal with our 30 year mortgage. We have $11k saved in the bank to cover our closing costs, but that is slowly growing every month since we shifted from paying down our current home to saving for the next.
Do you believe it would be possible to get a all cash hard money loan for $300-400k so that I could make an all cash offer or would the LTV require me to bring more for a downpayment?