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11/24/2017 4:44:23 PM
11/22/2017 10:05:29 PM
Posted: 10/5/2004 12:41:12 PM EST
In Canada my father purchased our home with the help of the VLA. Basically, it provided low interest mortgages for vets. Our 30 year mtg was at 3% and 6%.
Is there anything like that here?
Link Posted: 10/5/2004 12:43:03 PM EST

Originally Posted By captainpooby:
In Canada my father purchased our home with the help of the VLA. Basically, it provided low interest mortgages for vets. Our 30 year mtg was at 3% and 6%.
Is there anything like that here?



From my dealings with the VA, most of their policies are geared towards giving you the Green Weenie.

Link Posted: 10/5/2004 12:43:23 PM EST
[Last Edit: 10/5/2004 12:44:33 PM EST by Lightning_P38]
Link Posted: 10/5/2004 12:49:09 PM EST
It's probably a better deal in a high rate environment. With rates as low as they are and credit practices as liberal as they are, who cares...

It's like USAA. I am a member because I opened an account as a dependent of a vet. However USAA doesn't really do that much better than the market. If the market changed and got strict again with monetary policy, USAA would probably beat it handily by evading some of the standard lending practices.

Interesting that if I were to close my account, I could NEVER rejoin as I am not qualified any more. I keep the account as a pilot light, as although I don't see an immediate need, I may need one of their products in the future.
Link Posted: 10/5/2004 1:38:41 PM EST
[Last Edit: 10/5/2004 1:40:10 PM EST by 1776]

Originally Posted By Lightning_P38:
Yes, US veterans are entitled to a low cost loan to purchase a home, we call it a VA loan.

I am not sure what the current rates are for a VA loan, but they are often able to provide the loan with no down payment.



The VA does not actually lend you the money so the intrest rate is the one you decide to choose at the bank you decide to choose.
The VA only guarantees the money if you default on the loan. I have a ZERO money down at a 5% rate.
Link Posted: 10/5/2004 2:10:22 PM EST
There is a bill in Congress, HR 1716, that will raise the maximum guarantee for veterans’ home loans. Current law limits VA loans to $240,000. The bill would raise the limit to $333,700, with future caps linked to hikes in other federal loan guarantee programs so the veterans’ program would stay competitive.
Link Posted: 10/5/2004 2:16:32 PM EST
I have yet to find a VA loan that has as good of terms as I can get on the market.
Link Posted: 10/5/2004 3:33:17 PM EST
The state of Texas has something similar
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