I'm 100% permanent & total veteran, $4.2k per month, 775-800 fico score, 0 debt. I live in New York City I only pay rent, Internet, cell phone, electric, gas and auto insurance. I drive an old used car. Do I earn enough with my veteran's disability compensation to get a mortgage? I am 59, live alone. $100k down payment.
Happy to chat and run the numbers. It depends on where you want to live in New York and if you are looking at a condo what the HOA are. Something important to know is you cannot do a co-op with VA which definitely is something to pay attention to in New York. Happy to chat 707-478-0637
You can move to the south like Ga or Florida and have a nice house with a yard and cheaper prices. Plus safer community..etc I'm in the same boat as you, currently saving up to buy a lake house this fall.
What if I don't want to sell my current home and rent it out, does the "free" up my benefits eligibility/reduce my debt to income? Does it just require a rental agreement?
If you decide to rent out a house that you’re departing, we would use rental income to offset the mortgage payment so as long as the rent covers it that would wipe it from debt to income If it’s a VA loan, it’s not going to free up that portion of eligibility, unless you either sell it or refinance it to conventional. Realistically you may have enough eligibility for multiple homes. A lender has to do a mortgage worksheet. This is super easy. We do it every day. Feel free to reach out with questions. 707-478-0637
@@JenniferBeeston We are still debating the move to Las Vegas to trial out the area before making a purchase there. In the meantime, can I rent to one of our adult kids as long as I have a rental agreement?
Hi, are there any programs or benefits for people who are not first time homebuyers. Seems lots so progams are geared to first time home buyers. Thanks
The VA course is FREE and at
Www.zerostressva.com
I am still perfecting it but there are over 30 videos from A-Z all about VA;)
I'm 100% permanent & total veteran, $4.2k per month, 775-800 fico score, 0 debt. I live in New York City I only pay rent, Internet, cell phone, electric, gas and auto insurance. I drive an old used car. Do I earn enough with my veteran's disability compensation to get a mortgage? I am 59, live alone. $100k down payment.
Happy to chat and run the numbers. It depends on where you want to live in New York and if you are looking at a condo what the HOA are. Something important to know is you cannot do a co-op with VA which definitely is something to pay attention to in New York. Happy to chat 707-478-0637
You can move to the south like Ga or Florida and have a nice house with a yard and cheaper prices. Plus safer community..etc I'm in the same boat as you, currently saving up to buy a lake house this fall.
Thank you, Ma'am. 🇵🇷
You're welcome 😊
I just wanna know if there is a va loan that covers buying land and building on it
It’s called a VA one time close. I don’t do them but Indu kapoor at guaranteed rate does
What if I don't want to sell my current home and rent it out, does the "free" up my benefits eligibility/reduce my debt to income? Does it just require a rental agreement?
If you decide to rent out a house that you’re departing, we would use rental income to offset the mortgage payment so as long as the rent covers it that would wipe it from debt to income If it’s a VA loan, it’s not going to free up that portion of eligibility, unless you either sell it or refinance it to conventional. Realistically you may have enough eligibility for multiple homes. A lender has to do a mortgage worksheet. This is super easy. We do it every day. Feel free to reach out with questions. 707-478-0637
@@JenniferBeeston We are still debating the move to Las Vegas to trial out the area before making a purchase there. In the meantime, can I rent to one of our adult kids as long as I have a rental agreement?
What if our student loans get wiped (due to 100% PT) in the housing process and drops our score? Does that make things difficult?
We wouldn’t rerun your credit to get a new score. We were just want proof it was paid off and then then we could exclude it.
Link to va site to calculate residual www.benefits.va.gov/ROROANOKE/rlc/formsrlc/prequal-04.xls
Hi, are there any programs or benefits for people who are not first time homebuyers. Seems lots so progams are geared to first time home buyers. Thanks
VA loans are not just for first time homebuyers..VA loans are for active duty and veterans and the best loan out there.
@@JenniferBeeston OH, I know that.😊I was referring to grants of more financial help of you wanted to do a down payment. Thanks
If Im looking at a house for $600,000 should I multiply the 80,000 from the residual charge?
Not sure what calc you are trying to do. Feel free to reach out Tuesday 786-933-2077