Cal Vet vs VA loan for house?

Anyone here have gone this route or know someone who did? the wife and I are looking at our option and would like to know more. Would like some feedback from somebody that went through it. We are also considering USAA. thanks in advance

When I got into my first home in 1980, it was very difficult to find a bank to jump through the extra hoops required for a VA loan. So, I never used it.

Let me know Gino if you are leaning towards a va loan. My realtor friend can help you.
No down payment and if you have service related disability you don't pay processing fee.

I just bought a home a couple months ago and what hojo says is true... Some of my offers were denied solely on the basis of my wanting to go with a VA loan.

In the end I bought one with a VA loan but it was definitely a pain.

The sad thing is that those hoops are put in place to protect us.

Good luck with whatever route you choose.

I just bought a home a couple months ago and what hojo says is true... Some of my offers were denied solely on the basis of my wanting to go with a VA loan.

In the end I bought one with a VA loan but it was definitely a pain.

The sad thing is that those hoops are put in place to protect us.

Good luck with whatever route you choose.

Yup, they just want to make sure that what you are buying is priced right and livable 

Cal Vet is a better option VA is a close second.
I have been a Realtor for over 21 years and the key in getting an offer accepted and having the seller pay for most or all of your closing costs is in the agent's skill in presenting the offer.
I would be happy to help you and if you answer your questions.
please call me any time so I can explain the process.
I would love it if you give me the opportunity to assist you in finding your home.

Luis Romero
Scubaluis
[email protected]
707-333-1918
DRE# 01104621

I always heard the cal vet loan was the best. I never used mine though.

OK thanks everyone, we will do more research

My first house was a VA loan. It was a solid a paper loan. Can't go wrong.


Congrats to you! Home ownership in this crappy economy is awesome!

Some of my offers were denied solely on the basis of my wanting to go with a VA loan.

In the end I bought one with a VA loan but it was definitely a pain.

+1

I did not do much research on the Cal Vet thing as I was not aware of it at the time.

We put in many offers, all denied because we were using a VA loan, which happens to be on the bottom of the list for any seller to accept.

Our realtor ended up including a letter with our offer(s) telling the seller a little bit about my wife and I, that I am an Iraqi war vet, and I am a first time home buyer. Finally we found someone with a heart who accepted our offer $20g under other cash and conventional offers.

I think we talked about this at BSS2.

Ryan

Good. congrats.

Luis

Ok Luis will call this week for some question. Just getting our duck in a row or preparing our self in 2-3 months . Thanks

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Gino, thanks a bunch for starting this thread. I'm going to start looking into using my VA Loan sometime very soon. Please keep me/us updated on how it's going for you. I talked with Ryan at BSS2, and now I'm all nervous that no one is going to want to sell me their home. Luis, I may give you a call, do you do Realtor type work in the east bay 680 corridor?

Gino, thanks a bunch for starting this thread. I'm going to start looking into using my VA Loan sometime very soon. Please keep me/us updated on how it's going for you. I talked with Ryan at BSS2, and now I'm all nervous that no one is going to want to sell me their home. Luis, I may give you a call, do you do Realtor type work in the east bay 680 corridor?

I knew I talked to someone at BSS2... just forgot who.

There are definitely some positive things about a VA loan but keep in mind that there is a 1.9% fee (I can't recall if that's the right percentage) for that loan.  It all adds up. You can find some info on the VA web site.

I've only had this one experience with it but let me know if you've got questions from a buyers perspective. I'll share the little I figured out.

One general thing I realized is that even though you may have a good realtor you really don't have anyone in your corner. Once the sellers agent starts talking to the buyers agent and relationships (future deals) start getting built you're on your own. That's not to say you'll get screwed over it just means you have to really scrutinize some of the things your agent tells you.