VA loans?

[Kikuchiyo]

My wife is a Realtor who specializes in military relocations. She says don't go w/ a VA loan. Their rates are actually higher than a conventional loan and the VA funding fee is a waste of your money. There are a number of 0-down conventional loans out there. Do compare the lenders' fees and closing costs along with the interest rate. We've also used adjustable rate mortgages when we knew we weren't going to be in a house beyond the first adjustment period. We got a lower rate and didn't have to worry about the adjustment.

qmaster3, I'm sorry you got a bad agent, but would you do surgery on yourself or represent yourself in court? I'm not smart enuf to know all the laws in the state I'm moving into and make sure that every i is dotted, etc. Yes, don't be afraid to fire a bad agent, but also don't paint all agents with the same brush based on your one experience. We've had good and bad agents, one's we've referred to others and ones we wouldn't give the time of day to. Like any business, there's good and bad ones.

BTW, speaking of USAA, here's a little known fact. The agent gives 35% of her pay to USAA relocations if you register with the USAA MoversAdvantage(tm). You might get a few hundred of that. Just something to be aware of.

 

[Dr Pokenhiemer]

I bought my first home under a VA loan in 1994. Sold the home in 1997. I never got a VA loan again, but every month or so I get a phone call from a telemarketer wanting to talk about my VA loan. For some reason, they think I have one now and want to talk about refinancing. I've gotten to where I let them go on and on about how they can help me get a lower interest rate than I am currently paying, then ask them where they got their info. I tell them I haven't had a VA loan since '97 and they say they will take me off their list. This has been going on for 4 years now.