PROS and CONS of a VA Loan 

"Good to go" and "Adapt, improvise, and overcome" along with the info this motivated Marine is god damn outstanding!

Awesome👏🏻 piece Jimmy. I was 56 when I hired a BA attorney to get the VA loan on my present home. I got the loan for the total purchase price, which allowed me to preserve my liquid cash. I don't plan to pay off this loan, although I could if I wished to. My rate is 2.25%, and I earn far more than that on my investments. Why in the world would I want to invest money at 2.25% by paying off my mortgage when I earn far higher returns on my cash? The OP has also stated elsewhere that VA would "auction off" the house if there is a loan on it when he or she dies. That's not how it works. The performance of VA loans-even through the 2008-2009 crisis-has been far better than other loan types. The VA home loan is the best loan program on the planet by far. It requires no down payment (100% financing), carries no mortgage insurance, and has rates about .375%-.50% lower than conventional loans. It's one of the benefits earned by people who have stepped up and worn the uniform to serve their country. Stay blessed and keep up your good work 👍🏻

Me the first 2 minutes into this video "RAHHH! YUT! KILL! RAAHHHHH!"

Great info, Jimmy. I'm a Viet Nam disabled vet living in Southern California. I've been Pre- Approved as a first time buyer. I hope you'll keep posting info for us new vets.

So clear and inspirational video… it gives the tools and motivation to go for it!! Thanks Brother

Great educational piece! Looking forward to working with you guys soon!

I'm exempt from the funding fee luckily! On 50% disability, very thankful that I got all that medical stuff taken care of before i got out, and immediately after.

All Realtors need to watch your videos. Every video is highly educational! Subscribed today!

Always super great information, thank you very much brother.

Young veteran from corps and this has helped out so much for prepping for upcoming process towards end of year !

This man is squared away! His communication skills are superb. Thank you for the information. #SemperFi

Great info, love the presentation 👍

Good to go! Great presentation 👏 💯

Great video! Good info & content.

Awesome video thank you!!!

great information ! Thank you !

Thanks for the videos, I learned something new each one. I have had several VA loans and really enjoy not paying the funding fee due to the service-connected disability

Very easy to understand. Thank you

This was awesome!😊

I love this dude already Semper Fidelis brother

Thank you. It is info that made me understand more indepth info on VA home loans.

Thank u for the awesome education!!!!

I'M SO GRATEFUL FOR YOUR VIDEO!! I shared with my husband, whom is a Veteran, but he STILL can't wrap his mind around what I'm trying to explain... so you broke it down exactly how I've been breaking it down for everyone.. haha!! Thanks for your video, sweetie!! I will keep up updated as we are currently planning a precise purchase (well I am, he's just along for the ride...🤣 😂... stay tuned! ~Bev 8)

Great info. Thanks Brother. Rah!

Great video!!

Great job my fellow veteran

Good to go?! Felt like i was in uniform sitting through a breef. Great job. Thanks for info

Thank you just got my loan today

Aweosme video brother!! Good to go :)

You the man👊🏾

This video is great man

Thanks so much; never used mine... will be my 1st time...

You are giving out comprehensive info..think I will reach out to you in spring 2022 I'm in California

❤ Highly motivated, truly dedicated - give’em one - ORAH!

This was very helpful🙌🏽 Quick and easy to understand the basics! I know there are further benefits for veterans that are SC 100% total and permanent and those who were dual military. Could you elaborate on some things to know when that is the circumstance. Also information about only being able to buy certain types of homes and if we can buy land or not. Thank you again for all your help!

Awesome video Jimmy! I'm always learning something new watching your videos! A recommendation I have for a future video you could do could be entitlement? Semper fi and God bless you!

Once again, you got my interests.

Great presentation Sir! One thing I would add is that yes, you can use VA loans over and over again a hundred times throughout your life, HOWEVER only one at a time. So you have to pay that first loan off completely before getting that subsequent one (unless you are active and PCS). And it has to be on your primary principal residence. So you can't just buy a bunch of properties all over town with a VA loan on each and rent them all out. Exception is if you PCS from say CA with a VA loan in place, you can keep that loan, and rent out that house and can buy again with an additional VA loan at your new duty station town in TX for example. Semper Fi from an Army Guy!

Thank You

Thank you guys for your service. If it weren't for you this country on this world would be a much darker place. God bless you

Awesome video.

Outstanding motivation devil

Thx fr video bro

So understandable 👍🏽

😂😂thank you for your motivated explanation!!

Out-Fuc@ing Standing!!! Thanks for the info Marine!

the "good to go"! Once a Marine always A Marine! Oorah!!

Holy shyt! I've never heard of this va loan and I'm a vet!

🔥

Valuable information. Thank you Jimmy. Does Section 1 or Section 2 items have to be cleared for a VA purchase?

First THANK YOU for teaching all these!! Question: What do you mean "No Private Mortgage Insurance"? Wow, I just bought my home...Not my realtor neither the lander new anything in reference do this. The no down-payment - well at the last minute going over docs etc I got emails from the lander saying "...we will have to check how much $ you will have to come up for the closing..." I kept sending responses to "No I do not..." My realtor got involved and then the emails stopped in ref to the money at closing but never a response like 'oh I am sorry for the misleading info'. It was super stressful dealing with the realtor, lander, and the seller. My closing date was confirmed three times to be in Nov 2021. One week prior to the first walk through with the superintendent I got a call saying my closing date had been moved up to be in Oct 2021, and I had to be there for the walk through with the superintendent one week prior to the day of the walk through. I was like What? I am a disabled Vet, single mother, recently retired, and the State I was in was not doing less than 12 months leasing agreement. When mine expired in July 2021 (knowing that "Nov 2021" I would be in the home) I didn't want to renew the lease and then have expenses to break a lease and have that in my personal credit history. So I rented in another State because I had to be there for medical surgery visits etc anyway. So, I had a lot in my plate. My realtor did the first walk through in my place, which was the sellers idea (I asked the seller if my realtor was the one buying the home? She says that the 1st walk through was not important), they all told me the first walk through was not important. When I came to the home for the second walk through prior to closing, I marked everything and brought up the issues with the ceilings etc to all parties involved. I was told some stuff would get fixed but not the ceiling. They did not fixed majority of what I had pointed out, and the superintendent told me "You should have done that in the 1st walk through NOT now." I had the inspection and they said nothing about the ceiling (it's a pretty obvious issue with the ceiling) when I mentioned to the seller and the loan officer, they asked me if I wanted to drop the deal. My credit had been checked twice (so ding ding...) and the was what I could afford at the time. So I stayed with the lemon.

210 days out from construction loan being complete to lock in a fixed rate for a VA loan. Started as a new law in 2018. Pretty sorry for law for Veterans. To use my VA loan, I would have to wait 210 days from start of construction date to lock in a fixed rate.

The biggest con is that most sellers will not even consider it. When multiple offers are on the table they will go with cash or conventional. I sold my house in September 2020. And none off my offers were accepted when rates were low. I now that rates have tripled and housing prices have doubled I can not afford to buy. I have been renting for 3.5 years. It isn't a myth that sellers do not find VA loans appealing.

Great video and information. I want to use my VA loan to buy land and a modular home but I’m a bit confused at the process. Ughh

Do you have a video on Va loans on a new construction builds so I have the information before I start my pre approval ?

Thank you for this information. My husband found you and sent me this. My question is do VA loans cover off the grid homes? Would we need a doctor's letter as to why we need a home off the grid?

Hey Jim so I had a question. Would it be a good idea then to use the VA loan to buy a house only to end up moving again after just 1 year? I was told I'd be potentially losing money if I did that since I wouldn't be staying on that property for more than a year. With that being said, I was told that a long-term time horizon would be best because being that I’m a first time buyer, I’d be charged an upfront funding fee of 2.3% added onto the cost of the house.

Hey Jimmy, quick question. Is it true that VA loans have the same credit score as FHA loans? Like minimum of a 580? I'm currently working with Rocket Mortgage (nightmare) and from all my research it says that you only need a minimum of 580. But they kind of blew off that idea, so I was just curious about your opinion. (Note, I'm higher than a 580 just not where "I need to be")

Sender FI my fellow Marine! Your explanation of the VA loan pros and cons were on point 👏🏼👏🏼👏🏼👏🏼. New subby here. I’m in the unfortunate process of going through a short sale now and luckily my buyer submitted an offer ten thousand more than my actual asking, but still obligated from the seller side of thing have to factor in commission to the realtor (s) and any other fees associated with the sale which from the realtors standpoint I still will walk away empty handed. Sad to say but was also advised from the banks standing representing me the seller I can also ask for relocation assistance from my services. Are u aware of this? Your response will be greatly appreciated and welcomed.

Hey boss, quicky for you. When I moved to Texas I didn't have to put any money down at close. It was all rolled into the loan. I'm currently working with a lender in Louisiana and they said we can't roll that in even though I negotiated 6,500 under fair market. Was I wrong in thinking that close could be rolled into the loan?

What if you had to turn a VA fund home back to the lender in leiu of fprclosure because you came down on assignment for an overseas assignement and you coultn't sell the home because the neighborhood went down? In short, I did a home turn in in leiu of forclosure and the VA lost money?

Simper Fi Devil Dog! Love your videos first of all, I’m definitely a fan. Got question about getting financed for a multi family home. The lender told me that some VA guidelines are that you must have experience before getting approved to home hack. Is that true?

Wow I had no idea if you had a service connected injury you don’t have to pay the funding fee. I’m good to go. My 10% tinnitus around aircraft has paid off 😂

Can you make a video of v.a loans for 100% dissabled vets please ex ,closing cost,escrow,all the info

If you have a service connected disability percentage given after the loans already approved and in effect, can the funding fee still be zeroed out?

I am a surviving spouse and my husband passed away about 26 years ago. As I understood, I have a VA home loan I could use but never used it. I was wondering what I have to do to access it. I am planning on buying a house after getting my finances straight and save money in time before purchasing.

Would you clarify whether or not the funding is required as a down payment? Also, are there ways to minimize the closing cost, or include that in the loan?

After exiting my Cares act covered mortgage and I make the 3 required payments after my deferral can I be eligible to buy in the same month of that 3rd payment or do i have to wait until the 4th month ?

Hi Jimmy, thanks for this. On a VA cash out refi..can that money be used to pay for a second home? A retirement home is what's on my mind, but I'm not ready to sell the existing home..thanks

Oorah brother

VA Inspections are a negative. I am a Marine veteran with a VA loan and my closing (2016) was delayed because the inspector stated the hot water in the shower did not get "hot enough". The inspector had to be explained how to operate the controls on the faucet. This delayed my closing by one week. The inspector also delayed my closing due to paint that had chipped off the exterior of the house exposing a lighter shade of paint underneath. The seller had to have the entire exterior repainted before passing inspection. I know of a veteran that had his delayed by an inspector who cited hardwater stains and rust on the exterior of the house. VA inspectors will deny and delay your loan for cosmetic issues. That said not all inspectors will do this however it is still common.

Liked and subbed. I just got my DD214. I am a contractor in Qatar but want to buy a house In Maine before I leave, I have 2 more years of work. Should I buy now?

Thank you for this. I was on the fence between the VA Loan and the CalVets VA Loan. But one question, if I want to buy a house, how long do I have to live in the house before I can move out to rent it out and buy another house? Rumor has it that if I use a VA loan, I have to live in the house for a year before I can rent it out.

What about the one time close construction loan?

Can you address the pros and cons of using the VA loan to pursue a house that hasn’t been built yet?

I am also senior citizens

My husband was wondering if you need a certain credit score to use it

what if a conventional loan has a lower interest rate than a va loan? I’m willing to put a 20% downpayment or more to lower my monthly payments. i also have a 50% plus disability. i was lookin yesterday on NFCU mortgage rates, their conventional loan (5% down) is lower than va loan. what other fees does a conventional loan have that a va loan doesn’t or vice versa?

So what if you use your VA loan to get a house while active but get out with disability would I be able to refinance to get the VA loan fees waived?

could you do a FHA LOAN PRO / CON AND EXPLAIN WHAT IT IS!!

Hey Jimmy, im pcs ing to AZ and planning to buy a house instead of renting. Can you help or recommend a realtor? I was also advice to check with usaa on getting pre approval befor talking to a realtor. im a first time using VA loan

Hi Jimmy:) A couple of years ago I had to claim bankruptcy because of hurricane Irma. Since then I don't have any credit cards except for one debit/credit card with my bank. What do you think my chances are? My Experian score is 650.

Hello, I currently have a duplex on a VA loan on a 2.5% int. in CA. I've lived in one of the homes for over 3 yrs and rented the other. My current employer is relocating me and my family to Indiana. Is there a way for me to have a second VA loan without refinancing my current loan? My first loan was 690K.

If I want to purchase a home using my VA loan, and I live in it but I want to rent out a room inside as an AirBnB, is that allowed?

Jimmy , how I can use VA loan for second times or even more . For example: I have jumbo loan in San Diego 600k in 2019 so, if I want moving out to close with my kid school and using 2 times . Have any requirements for 2 times . Please advise

Great video Jimmy! I’m in the army reserve, and I was told that I have to do 90 consecutive days of active duty to use the loan. How can I go about doing those 90 days ? And where to go? Thank you!

Would you consider using a Dr loan for my first house (in a less expensive area) and saving my VA loan for my second house (which will most likely be more expensive) in order to save on the funding fee for the second home?

Does the VA loan go for a mobile home to? Would a new one be easier than a used one? I’m 67.

Can you use a VA loan on a New Contruction home?

They look at fico or credit score?

Ahhhh.... writes at Mach speed and super illegible... just like the good ole marines I've come to know and love. Now, where's my crayons? 😂

I was thinking of a Navy Federal Credit Union VA loan. Would it cost any additional money for your team to work on my next purchase comparedvwith a loan officer from the credit union?

We are currently in the VA loan process and we’re told now ( a few weeks into the process) It’s not zero down .. Help

Isn’t VAFF waived if disabled

What if I only serve one contract will the loan be taken away from me

I had my note book out ready for all the cons to research LMFAO

FUCKING GREAT MAN! 🤩

How do i buy a hobby farm using my VA benefits?

VA loan still worth it with ~ 50% down? No funding fee with disability rating

Hi, I’m using my VA Loan benefit for the first time. I’m a Vietnam Vet. I’m 100% service connected , Total and Permanent Disability. I ask for my COE and was denied. Is there any reason why I was denied ? Thanks, keep up.