All Forum Posts by: Jason Bohling

A couple things to remember: 1) you pay NO PMI WHATSOEVER with a VA loan whether you put 99% down or nothing down, that's the big lure of that loan. 2) if you are disabled vet receiving disability comp the funding fee is waived. I'm a disabled vet and have done the VA loan with my last 3 residences. It is an awesome loan route. Also the VA only allows you to use it for your primary residence; so unless you're planning to live there (as far as the VA is aware!) your lender won't do it. You can also use it more than once. You have $430k in total benefit so here's how it works: Scenario 1: you purchase a home for $230k with your VA loan. In a couple years or whatever you decide to move. You can keep the first home and use the remaining $200k for your second home (if the home costs more than the benefit you make a down payment to balance it out). Scenario 2: you buy same $230k home but refi it with a conventional, this then frees up that amount so you have the full $430k to use again. Scenario 3: same as above but instead of refinancing you sell it.