All Forum Posts by: James Jones

Zero percent down on a $600k mortgage? Non VA? I'm going to check this out! I'm assuming the interest rate is going to skyrocket but it intrigues me. Thanks!

Thank you all so much for your help! So what I'm gathering is the best option is to get my mortgage as low as possible and hold the property? Are there any options that dont require payment of any closing costs, and is it even worth it because I'm sure it would require points or an increased interest rate. I would really prefer to sell, but it doesn't seem like there is an option that doesn't result in a significant loss of money.

@Chris Mason what are the normal costs for refinancing to a conventional loan? This might be smart so that I can restore the VA, but will I need a down payment or to cover closing costs?

@Kevin Hunter my mortgage is $2800 and rent is about $3k here. But that doesn't include maintenance fees and HOA. I will probably have to eat a few hundred a month. But it look like this property is going to appreciate by 30k this year and I think it'll go up for a while. What do you think?

Hello everyone!

Ok so I currently own 2 Homes financed through VA loans. One in Grovetown GA which is entirely covered by a tenant for the last 4 years, and one I'm living in in Ewa Beach Hawaii. I just closed on the current house this past August but I have discovered that I will be heading to another Duty station this August.

The house in Georgia is worth $170k and I owe $155k on it. I've already refinanced it back in 2012. The house here in Hawaii is worth $595k and is projected to appreciate $30k this year. I see this property going up $100-150k in 3-5 years.

I know that I want to buy another property when I move. What are my options? Should I wait a few years and look into a home equity loan? Should I look at selling the Hawaii property closer to maturation? I'm trying to establish $10k in residual income by or shortly after retirement which is 12 years. I know it's a lofty goal but I'm just aiming high. Any insight?