Is it alays best to go with a VA Loan if you earned that benefit?
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Is it best to *always* go with a VA loan since I earned that benefit or still look at other loan types.?
I am having a home built in the Dallas Texas area but I will probably not get it because my Florida home is not sold. I have the option to pick another lot and build another home. The loan process starts all over again but I do not lose my earnest money if I build again. I did not lock in my rate with the 1st home and I went with a conventional loan. The Loan officer said "why go VA if you are putting so much money down". (50K on a 127K house) . Now that I will be starting over with the loan process on another home ....I am concerned that I did not get the right advice about not going with a VA loan...I have 100% VA disability benefits so I think I get some fees waived.. I would be grateful for any professional opinions..
Is it alays best to go with a VA Loan if you earned that benefit?A VA Loan isn't always best, but it is usually best because of the low interest rates and no MI. Since you're putting over 20% down you won't have MI anyway, and because you're disabled you won't have to pay the VA funding fee either.
I suspect the loan officer doesn't want you to go VA because he either doesn't know how to originate a VA loan or he is too concerned about his commission.
If you'd like to talk to a loan officer who is also a vet (USMC) and is located in Dallas, call me!
Rick Lanicek
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