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My husband and I are planning on buying a home in 2 years. We were thinking of using the VA loan. However, If we already can put down 20 % at the time, is there any reason to use the VA then?
My husband and I are planning on buying a home in 2 years. We were thinking of using the VA loan. However, If we already can put down 20 % at the time, is there any reason to use the VA then?
Look at multiple loan products. Your (or husband's) veteran status (disabled or not, initial or repeat VA loan) will impact the VA funding fee, which might offset some or all of the savings over other non-VA products. I've used both conventional and VA guaranteed loans. I don't pay a VA funding fee due to service-connected disabilities, but while serving, I paid a 1% funding fee on my first VA loan and a 3% funding fee on my second VA backed purchase. Later, I found a better rate and loan cost in a conventional product with 20% down, so I did not use VA.
You are too far out to make a decision about what loan product is best. Too many variables. What might work best today may not matter in 18-24 months.
I had a USAA mortgage a number of years ago. My only complaint is that they unloaded us to a subprime lender even though our credit was excellent. USAA has a tendency to divest itself of certain businesses, such as mortgages. I am surprised to hear that they are back in the game.
I had a USAA mortgage a number of years ago. My only complaint is that they unloaded us to a subprime lender even though our credit was excellent. USAA has a tendency to divest itself of certain businesses, such as mortgages. I am surprised to hear that they are back in the game.
Most buyers of mortgage backed securities do not only buy one type. Seen WFC, JPM, HSBC with plenty of junk. Worrying about who buys your mortgage is kind of like worrying about who bought your home...you really have no legal control over, either.
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