I have a question about VA Home Loans

iVillage Member
Registered: 09-25-2003
I have a question about VA Home Loans
51
Wed, 02-04-2004 - 11:15pm

DH has said he'd like me to look into a VA Home Loan that we would use to purchase the home we're currently renting.

Virgo
 
iVillage Member
Registered: 03-27-2003
Sat, 02-14-2004 - 5:10pm
Yes, but she should have stated her situation. She was making it sound like paying the funding fee was optional and it is not for the vast majority of vets.
iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 8:49am
No, I didn't leave it out. I put it right in there. "not every veteran" is very clearly the wording one uses when a rule pertaining to veteran loans has an exception.

What difference does the reason for the exception make to the FACT that there is one (several, actually)?

Nor was there a problem with my second paragraph, as my ex and I co-own my condo, meaning that WE have never paid the funding fee.

iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 8:58am
You also made that claim in response to MY post and altho he's not my dh, he's still a disabled vet, which means you made an absolute claim on a situation that is not absolute, i.e., there are exceptions to the rule you insist is unwavering.

Nor should I have to delineate the reason for the exception; if you're the great expert you're claiming to be, you'd have already known about the exception and simply wouldn't be making such a broad generalization.

As for disability, how would you know if Virgo's dh is disabled by the standards VA uses to exempt the funding fee? My ex's disability in no way disqualified him for active duty, deployable service. He received the injury while we were at DLI, and he went on to serve another 12 years. In fact, while he served on reserve status, he got both the disability plus his reserve pay, which was minus the disability, which always made us laugh since basically the Army was giving him two checks for the same total amount, because of their bookkeeping. I think he even gets raises in his disability check from time to time.

Certainly, I would hope Virgo's dh is not similarly disabled, but if he has the exact disability my ex has, he'd be more than able to continue serving as he is. But he still wouldn't have to pay the funding fee.

iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 9:01am
That's quite a load of bull coming from someone who claims to be such an expert on VA loans but had to have all the maps drawn before she was willing to even admit there are *any* exceptions.

I most certainly did NOT "make it sound like it's optional". You are reading into what I wrote. What I wrote is completely factual in every inference of the words used. "Not every veteran has to pay the funding fee. We never have."

Not a single word is at all misleading or dishonest in the above statements and coming from someone who clearly HAS been misleading in what is permissible with VA loans, you've got quite a lot of nerve suggesting I'm the one being dishonest.

iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 9:06am
Balls. It makes not the slightest difference WHY there are exemptions to the fact that there ARE exemptions. And if you don't have the full story about VA loans, you've got quite a bit of nerve posting as if you do. and you subsequently look pretty foolish chastising me for having had the gall to demonstrate your ignorance on the topic.

Interesting juxtaposition between your response to my comment there are exemptions to the funding fee and my response to YOU regarding my error with VA vs. FHA loans...dontcha think?

iVillage Member
Registered: 03-27-2003
Sun, 02-15-2004 - 10:51am
Where did I say you were dishonest? I simply think you should have given all the facts before making such a statement. Furthermore, I am an expert at VA loans and am certified by the VA, however I don't have the time or energy to enlighten everyone on this board of all the exceptions, guidelines and so forth. BTW, I am completely aware that a disabled vet doesn't ahve to pay the funding fee.
iVillage Member
Registered: 09-25-2003
Sun, 02-15-2004 - 12:23pm

Am I the only one who doesn't see 2-3% as a 'sizeable' funding fee?


We are first time buyers.

Virgo
 
iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 1:15pm
To me it just makes sense in a debate that if you are stating that you did not pay something becauqse there are exceptions to state what the exception was. It just makes things more clear.

And your last paragraph would have been clearer if you had stated that the reason that you have never paid a funding fee was because you co-own your condo with your ex and he did not have to pay the fee because of hs disability instead of "My ex has a disability gained while on active service and based on that disability we DON'T pay the funding fee and never have."

How is anyone on the forum suposed to know that you co-own the condo? The reason that you have never paid a funding fee is because you co-own it wihh him not because he has a disability. The fact that he has a disability in itself would not save you the funding fee, the fact you co-own the home does and that is the fact that you left out.




iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 1:22pm
Where did I ever infer that I knew all about VA loans? Aside from the fact that we have gotten two I know very little about them. I just think that a debate works best when all the facts are stated.
iVillage Member
Registered: 03-26-2003
Sun, 02-15-2004 - 1:26pm
Good place to ask a question. Is it any disabled vet or do they have to have a certain rating? My DH is 20% disabled and we qualify for some things on that but other things you have to have a higher rating.