VA I'm new at this.....please? - Posted by Steven

Posted by Tim (Atlanta) on April 20, 1999 at 06:52:13:

Since your wife is in the Army, you can get a loan from the VA for no money down on a property you intend to occupy. You can only have one of these owner-occupied mortgages at a time.

They will loan money to investors, but only if you are buying one of their VA repossessed homes. These homes have been repossessed from the original owners because they did not pay the mortgage. You will have to look long and hard at these homes, a bargain is hard to find. Normally these VA repos are bid at or above the fair market value.

VA loans…help I’m new at this…please? - Posted by Steven

Posted by Steven on April 19, 1999 at 17:17:51:

Hello all. I’m a newbie and I have some questions regarding VA loans.

  1. What kind of credit is needed to get a VA loan?
  2. Do they care about LTV ratios and therefor a long credit history is not always needed?
  3. Will they loan money only to people who want to move in. In other words not to investers.
  4. My wife is a soldier in the US Army. Does this change any of the above answers and perhaps give my wife and I an advantage.

Thanks, to all who respond
Steven Tiralongo