They said that we could get grandfathered into the program and offered the same terms to us.

Yes you can as long as your father will live in the home as his primary residence and you put enough down to cover your portion of the loan that VA will not guarantee.Here are the VA guidelines for calculating the down payment.VA calculates the guaranty as described in the table below.Step Action1 Divide the total loan amount by the number of borrowers.2 Multiply the result by the number of veteran-borrowers who will beusing entitlement on the loan.There is usually only one veteran borrower, in which case the resultof this Step is the same as the result of Step 1.3 Calculate the maximum potential guaranty on the portion of the loanarrived at in Step 2 (as if that portion was the total loan).Use the maximum guaranty table in section 4 of chapter 3 of thishandbook.4 VA will guarantee the lesser of:• the maximum potential guaranty amount arrived at in Step 3, or• the combined available entitlement of all veteran-borrowers.5 VA makes a charge to the veteran-borrower’s available entitlementin the amount of the guaranty.If more than one veteran is involved, VA divides the entitlementcharge equally between them if possible.

In the long run you will save a lot of money while at the same time earning way more money.

Our market is the same way, either spend the money on a hot tub or expect much lower revenues!

I talked about the same scenario (refinancing conventional from VA to reuse benefit) over here.

They also dont know that every market does not present the same opportunity.

I’ll also mention that both Incline Village (NV) and the Placer County (CA) part of Tahoe have basically the same thing going on with permissive STR permitting.  

I live in the Jax market, and I share the same concerns.

Closed around 30 days later.

I certainly thought the same thing and was very surprised.