buying with zero down? military related.

VA loans are a fantastic no down option!!!

Hi,A VA Mortgage is one of the best mortgages out there because unlike an FHA or Fannie/Freddie mortgage there is no mortgage insurance whatsoever. That means there is no drawback to putting nothing down (except perhaps minor closing costs, which the VA often allows to be financed as well), because you will get the same low interest rate. The VA allows 100% financing. We handle VA purchases and can pre-qualify you and work with your realtor to get your offer accepted. I even have a realtor to recommend for your price range in Orange County if you need help finding a home. We are based (home office) in LA and we are a nationwide DIRECT VA Lender. Please call my direct line at 310-619-4700 or email me at gfilzen@mtgcapital.com. NOTE: If you are 10% or more disabled VET, some fees are waived. I look forward to serving you. - Many thanks and regards...Greg Filzen, Loan Officer

You can absolutely buy a house with no money down if you are in the military or a veteran. The VA loan is one of the best loans out there.I have the basic info on my web site at http://hbruhner.lenderama.com/loan-programs/va-mortgage-loans/ VA is an excellent choice because there is no money down and the rates are lower than conventional. I am in CA as well and can be reached at (866) 385-1650

You have received the correct advise from the two brokers in your state. Go for it

The VA loan is one of the best loan available. Not only do you receive the benefit of $0 down, but you will also enjoy no mortgage insurance payments and your VA funding fee for regular military First Time Use is 2.15% that is put on top of your loan and if you decide to put down a 5% down payment the VA funding fee will be reduced to 1.50%. Talk with a local lender and get pre-approved to find out what your estimated payment would be. If you are going to buy, this is one of the best loans you can get. Best wishes,

As others have said, VA loans are the best option available for those who qualify. The only risk you take putting 0 down is that the day you close you will owe more than what you paid for the house. If you have to move quickly or within the next 2-3 years you could potentially be in a situation where you still owe more than the value of the home - especially factoring in the cost of a Realtor and any other cost when you sell. On the other hand, values are increasing again and if you don't plan to move in the next few years I strongly recommend that you BUY NOW!. There is no prepayment penalty and you can always pay extra on the mortgage to pay it off more quickly rather than delaying while you save money during which time house prices increase and interest rates do too. Good luck!

Go VA.

Buy now on VA. Home prices are going up rapidly in your area.

You are in a great situation. Everyone is looking for 100% financing....and you have it available. Why not finance as much as you can with interest rates being at all time lows. Borrower money at 4% and use what would have been your saved down payment for another investment that will yield a better return than 4%.

There are many solid reasons to purchase now with a VA loan as follows. All the calculations below are based upon a 30-year fixed rate loan.1.) No money down -- It's the only loan you can get like this with no strings attached.2.) No mortgage insurance (MI) -- The only way you can avoid some form of MI with all other loan programs is to put 20% down. How long will it take you to save another $53K to get to $60K for a 20% down payment so you won't have to pay MI on a $300K home? While you're saving, that home's price will be going up and up and up, so by the time you have $60K in savings you may need $80K to $100K to get a home comparable to the $300K home today. If you put 10% down on a $300K home, your loan amount will be $270K and your MI with a FICO score from 720 to 759 will be $110/mo. 3.) The lowest possible interest rate (IR) -- VA loan IRs can be 1%, or more, lower than conventional loans. For a $300K loan, 1% equates to about a $183/mo. lower payment. That's only $67/mo. more than if you purchased the home with $30K down (see above), which is considerably more than you now have.4.) Waiting will cost you more for the home -- The longer you wait in the current housing environment, the higher the prices of homes will get. CA home prices this year are about 19% higher than they were last year. That means the $300K home you are considering now probably only cost $252K a year ago. Just by waiting a year, the price increased $48K, and the monthly payment increased a whopping $243! Let's say, though, you can save up enough money for a down payment over the next 3 years, and the annual FMV increase is a conservative 6%. That would mean the $300K home today would cost roughly $357K, or $108/mo. more at the same IR, but it won't be the same IR, and you will need a $71,400 down payment. Do you think you can have this much in 3 years?5.) IRs will increase while you wait -- Currently, IRs are still at historic lows, not as low as they were 6 months ago, but still very low. All financial indicators point to the fact that they will rise significantly over the coming years. It is highly like that in 3 years they could be at least 1% to 1.5% higher than they are now. So, if we use the same $300K home today, assume that in 3 years it will cost $357K, IRs increase just 1%, and you put 10% down on the home, the payment for this home, will be approximately $304/mo. more than it would be for the same home today with $0 down!6.) Waiting will cost you more in property taxes -- If your new home costs $357K in 3 years, your property tax bill will increase about $60/mo.7.) Loan qualifying could be an issue if you wait -- The longer you wait, the higher home prices, IRs, and property taxes will go, and the more difficult it will be for you to qualify for the loan. Or, you can opt to purchase a $300K home in 3 years, but rest assured that it won't be the quality of the home you can buy today for $300K. Now, ask yourself, "Am I willing to wait 3 years to save enough money to put 10% down on our new home, so I can spend another $304/mo. for it, or almost $110K more over the life of the loan, that is, if I can even qualify for the payment?" I believe your answer will be a resounding "No." Oh, by the way, if you put 10% down on a $357K home in 3 years you will have to pay mortgage insurance of $131/mo., making your total payments about $445/mo. more than by purchasing the $300K home now with a VA loan! Do not make the mistake that many, many highly qualified home buyers made in the past 2 years while home prices and IRs bottomed out by being apprehensive to "take the plunge." Now is the time to buy unless you want to spend a great deal more for your home, and have a much higher monthly payment.Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 42 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.