Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 7 years ago

VA First time Home buyers loan?

My husband was medically discharged Sept of 2012, after his tour in Afghanistan. He served 3 years when he was injured and discharged.

We got married in May of 2012 and have been renting our current home, but with another child on the way its time for us to buy and settle down. We own our land. So we are want to buy a double wide mobile home to live in until we can build our own home.

I have no clue as to how the VA loans work and neither does my husband but we were told that it would be easier to go through the VA then our bank. We are really young I have no credit and he has fair credit. He is also partially disabled but its taking forever to have the claims processed, will this hinder if we get the loan or not?

So...how do we go about getting a First time home buyers loan from the VA?

What are the qualifications?

And how much money do the usually lend?

Any information would be helpful. I want to get the ball rolling (due in Sept) and please no rude comments. Thank you.

Update:

@Go with the flow. My husband has a very good job, works 13-15 HR days and we are middle class, no where in this question did I mention our annual earnings so I don't know where your drawing your conclusions from.

4 Answers

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  • wyble
    Lv 4
    4 years ago

    Get your preapproval now. This way, going into the system, you recognize what you qualify for. In the event you use USAA insurance, with them. USAA additionally has a realtor suggestion program, so if you are now not definite, they are able to support you discover a realtor in your subject. You have got to plan on being within the house 3 yrs. We lived in 15 homes in 22 yrs in navy and would have misplaced money had we tried to buy a dwelling. Recollect carefully why you need your own house. If your husband is setting apart from the navy, he is prone to find a better job faraway from where you at the moment are. Just right good fortune...

  • 7 years ago

    Your yearly income is not enough to qualify for any type of mortgage.

    Opinion: 0% down loans should be illegal (starting yesterday).

  • Anonymous
    7 years ago

    Glad you ask. I specialize in first time home buyer programs. You may contact me for more information.

  • LILL
    Lv 7
    7 years ago

    No one can answer your question without know your yearly earnings, debt and credit scores.

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