Just recieved my Certificate of eligibility from the Va, my first step in buying a home. If anyone has experience in buying a home with VA loan, Just a few quick questions. What is entitlement code 4? The entitlement seems really low, $36,000, is that normal?
I am not sure about the ent code 4 ( I did my 1 and only VA loan about 10 years ago )
Was a really smooth and sweet deal.
You can move in w/o 1 cent out of pocket for down payment and you DO NOT have to pay any monthly PMI ( mortgage insurance ).
The only down side is your initial 1st VA loan they tack something like 2% fee ( of home value ) onto the loan. This is what helps the .gov do this for us. 2nd time around that fee is gone or alot lower.
All in all a great deal for us Vets.
My neighbors were all green with envy when they discovered I moved in w/ zero money down and my payments were equal to or less than theirs