Downward Class Migration a Decade In – Epi-3139 — 2 Comments

  1. Hello Jack,

    You mentioned using a FHA loan, did you ever consider using your VA benefits for a home loan?
    If the FHA loan had a better rate and fewer fees, please tell me to remove my head from my fourth point of Airborne landing contact
    , big smile.

    • So I have gone VA on some homes not others. The chief advantage of VA is you can buy 0 down. VA is not great until your credit score is really good often it is higher interest rates then with FHA and 3% down. Also some homes won’t qualify for VA and some terms can’t be done with it, say “cash back at closing”.

      The 0 down is good when you score a hella deal on the property. Because you are financing EVERYTHING with 0 down, closing costs, etc.

      I got such a deal on my PA house in 2001 we did VA and 0 down. Sold it three years later and made 65K on it. Had I not made a good deal going in, if the market had gone down, etc. Having to sell at 3 years may have been painful.

      VA is a tool, in each job eval all the tools and use the right one.