The "Disadvantages" of VA Loans
9:44
VA Interest Rate Update
2:20
5 ай бұрын
Пікірлер
@bearieroblox6451
@bearieroblox6451 12 сағат бұрын
Quick question, I just want to know my chances. I'm an E-4 5 and a half years of service. With all the extra pay like BAH and the like, I am making a little over $60k a year. Looking for a house around the $200k - $250k range. Credit score of 750, but I don't have much in the bank, only about 5 grand, I don't have any credit card debt nor do I owe money to the court or any other organization, but I still owe 6 grand on my car. Do you think I could get a VA home loan?
@trevorperrigo5270
@trevorperrigo5270 13 сағат бұрын
You can in fact still receive VA home loan with a general discharge under honorable conditions.
@pictureflicks5755
@pictureflicks5755 13 сағат бұрын
How can I use my va loan if I’m married but my wife doesn’t want to house hack but just stay in our house. Non Va
@matthart7275
@matthart7275 20 сағат бұрын
Thoughts on getting a property manager for my first 4plex using VAHL?
@maddiefrew959
@maddiefrew959 Күн бұрын
Thank you for this video! Are we able to buy land and build a home with the VA loan?
@tylerh23
@tylerh23 Күн бұрын
Hey jimmy quick question, if I wanted to purchase a property and have the title be under my LLC can I still use the VA home loan?
@RobertBullock
@RobertBullock Күн бұрын
Why would you do additional VA loans with the built in PMI etc for 25% down when you can do 20% with no PMI?
@threedawg
@threedawg Күн бұрын
Thank you for supporting veterans
@BruceCrowell-d1u
@BruceCrowell-d1u Күн бұрын
My understanding is that you have to get you certificate back, also I have found that VA is more strict on VA appraisal. I have used VA loan 2 out of 3 homes I bought.
@richardwheeler6584
@richardwheeler6584 2 күн бұрын
I am OTH discharge does this disqualify me from VA loans?
@rayeemon
@rayeemon 2 күн бұрын
I'm looking into joining the Air Force as a pharmacist and was looking into the benefits. This VA loan seems amazing! My dream is to buy a house in Irvine or Tustin California but the average house is around 1.6 million dollars! This video is definitely helpful in making my decision to join! Thanks a bunch!
@anezay4987
@anezay4987 3 күн бұрын
I've never known anyone to be comfortable in their dress blues. They strangle you when you look down, and you can't raise your arms above about a 45 degree angle. I guess there's some important info in the video, sure, but that was just a distracting metaphor.
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
Thanks for the feedback.
@rearsightapex
@rearsightapex 4 күн бұрын
Thanks for this video. I’m sure Lender I tried working with, years ago,didn’t know all the details and nuances of the VA Home Loan. This video was very informative and helpful.
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
Glad it was helpful!
@jasperrhodes8788
@jasperrhodes8788 4 күн бұрын
Hey! Jimmy, I purchase a home in2020, I am a 100% disabled Veteran, I don't know if my funding fees was waived, how do I check?
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
Hey Jasper, you can go back and review the closing documents that you signed. You should have a copy of those.
@jewelygoodwin8809
@jewelygoodwin8809 4 күн бұрын
How soon should we start the process? we are moving in 11 months…
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
I suggest roughly 90 days.
@thegrayjedi5202
@thegrayjedi5202 5 күн бұрын
I’m prior air national guard. Did 6 years. I’m just having trouble getting my dd214 and other forms to even begin signing up for pre qual on the VA website. Apparently guardsmen don’t have their records with the VA.
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
You can get a points summary from your prior command.
@christopherkondraski3931
@christopherkondraski3931 6 күн бұрын
Had a mortgage broker tell me I'm not allowed to have my wife as a co borrower if I use a va loan, and rates might be better if we use a conventional mortgage
@JimmyVercellino
@JimmyVercellino 5 күн бұрын
Yeah run away from that bozo 🤡 let me know how / if I can help 💪💯🇺🇸
@Ashanti0826
@Ashanti0826 6 күн бұрын
Semper Fi Devil dog love your videos! How many payments do I need to make in a IRS repayment plan to be eligible to use my VA benefits?
@JimmyVercellino
@JimmyVercellino 5 күн бұрын
My guy!!! 💪💪 6 payments!!
@scowden1313
@scowden1313 7 күн бұрын
What does a va home loan do for the vet? Will it be cover if he does before it's paid off( his home loan)
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
It allows a vet the possibility of purchasing a home with no money down.
@scowden1313
@scowden1313 7 күн бұрын
A disabled war vet of 80% once to get a VA loan to buy a home what all documents does he need and where does he get them?
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
VAD award letter, and a few other items. You can watch my videos on that.
@megmasters5907
@megmasters5907 7 күн бұрын
So if there is a nsf on your bank statement its a definite "not now" ?
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
Not necessarily. If it's an isolated event I think you can get passed that.
@domepiece11
@domepiece11 7 күн бұрын
Thank you for educating these realtors. The VA loan is too often seen negatively.
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
My pleasure. This video is pretty old. Thanks for watching D
@ArmaniNelsonLoanOfficer
@ArmaniNelsonLoanOfficer 8 күн бұрын
Semper Fi! Marine infantry guy turned MLO also 😂
@JimmyVercellino
@JimmyVercellino 8 күн бұрын
@@ArmaniNelsonLoanOfficer let’s connect brother 💪💪💯💯🇺🇸🇺🇸
@ArmaniNelsonLoanOfficer
@ArmaniNelsonLoanOfficer 8 күн бұрын
@@JimmyVercellino you bet! I’ll reach out today to schedule a call.
@SgtOGaming
@SgtOGaming 8 күн бұрын
So I purchased a house in 2019 in Texas. I’m planning to move to Oklahoma within the next few months. Can I used my VA again or do I need to sell my house first so I can get the “full” buying power? How does that work boss? Tia 🫡
@JimmyVercellino
@JimmyVercellino 2 күн бұрын
Hey Sgt O. You sure can. We'll want to make sure you have enough entitlment leftover. Can you email me on that to discuss offline? [email protected]
@MiguelLopez-wq2ub
@MiguelLopez-wq2ub 8 күн бұрын
Hello jimmy im 18 years old and planning to enlist in the marines before the year ends. I hope to use my va loan as a way to build wealth and i hope you and your team will help me when the time is right. Thank you for the videos!!!
@JimmyVercellino
@JimmyVercellino 8 күн бұрын
Semper Fi Recruit. PUMPED for you to earn the title "Worlds Finest, United States Marine." Oh, and the fact that you're watching this at 18 tells me you're going to do great things in life. See you at the top!
@GiveyourselfAraise
@GiveyourselfAraise 8 күн бұрын
Jimmy you do great at covering people’s questions
@JimmyVercellino
@JimmyVercellino 8 күн бұрын
Appreciate that!!
@GiveyourselfAraise
@GiveyourselfAraise 8 күн бұрын
Love it Jimmy! GTG
@JimmyVercellino
@JimmyVercellino 8 күн бұрын
GTG!! ;-)
@RozzayV18
@RozzayV18 8 күн бұрын
Why multiply by 4?
@JimmyVercellino
@JimmyVercellino 8 күн бұрын
Good question! Becuase that number represents 25% of the loan amount. So to get to the full loan amount you'd multiply by 4
@paratrooperlane7022
@paratrooperlane7022 9 күн бұрын
I have been researching Whole Life Insurance as your own bank. The Rockefeller family and many wealthy people use this. Many video on KZbin on this............
@janettejaramillo282
@janettejaramillo282 9 күн бұрын
Hi! Are you licensed in Colorado? We are trying to move from CA to CO
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
@@janettejaramillo282 hi ! I sure am :)
@janettejaramillo282
@janettejaramillo282 9 күн бұрын
@@JimmyVercellino awesome! I just submitted an inquiry on your website 😊
@StreeetTalk
@StreeetTalk 9 күн бұрын
Amazing video Jimmy! I love your work and the info you give us members. I'm currently active duty, been in for 8 years now and my wife and I are looking to apply for a VA home loan in the next couple of months. What is the usual minimum credit score for lenders to approve an application? Let's say I want a $400,000 house for example, would they be like " here's the loan and monthly payments, go house hunting "?
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
Good Morning! Thank you for the kind words! We can go as low as 580. Regarding the payment question that’s exactly correct. You’d have an estimate for a monthly payment at 400K before you go out shopping. If we can personally assist you I’d be honored. [email protected]
@thomasfinley7754
@thomasfinley7754 9 күн бұрын
No PMI but has a funding fee. Im in the process of using a VA loan now.
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
True. And so does FHA. However even with the VAFF it’s still cheaper to use a VA Loan. Plus service connected vets are exempt from paying.
@RLTW_03
@RLTW_03 9 күн бұрын
Dave Ramsey can go pound sand!! Keep pushing these info videos out brother! 🇺🇲💪
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
💯💯💪
@williamrodrigues8333
@williamrodrigues8333 7 күн бұрын
​@@JimmyVercellino I wanna do a VA Build Loan. Do I have to already own the land or can I get the land purchase price wrapped into the loan as well?
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
Thanks for watching! I'm not hard to find. Contact me: 1. Check your eligibility and receive a personalized evaluation of your VA Loan: connect.valoansforvets.com 2. Email me at [email protected] 3. Book a FREE 15 minute phone call with Jimmy
@user-yq3kj9ub4w
@user-yq3kj9ub4w 9 күн бұрын
should I try with 90%? like ,if it's not 100% do I have a chance of finding a lender?
@jointu.s.militaryfilipino-9843
@jointu.s.militaryfilipino-9843 10 күн бұрын
Hello - as a veteran with 100% VA rating, can he/she purchase first property 4-plex live in one and rent the three. Then after the minimum of 1-year, can he/she purchase a single-family home as owner-occupied and rent all of the 4-plex considering not to exceed $726,200. The veteran has sold all properties and has credit score of 850 currently. The veteran has been home owner/landlord since 1995 and sold all in May 2023. Therefore, all loans are paid off. This veteran is planning to rebuild his/her real estate portfolio again:). Look forward to your reply. Thank you from retired US Army officer.🙂
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
Love it. Yes, that can certainly be done. Rinse repeat. Let me know if I can answer any other questions. [email protected]
@TruthTellerReacts
@TruthTellerReacts 10 күн бұрын
What states are you licensed in? What's your phone number?
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
Hello, we're licensed to lend in all 50 states. You're welcome to email me at [email protected]
@zaieth
@zaieth 10 күн бұрын
Amazing job! Thank you for what you do! Subscribed and liked. Time to digest all your content :D
@JimmyVercellino
@JimmyVercellino 9 күн бұрын
Appreciate that. Shoot me an email with any follow up questions!
@laladawson5550
@laladawson5550 10 күн бұрын
Don’t forget us widows we can use it too 🎉
@JimmyVercellino
@JimmyVercellino 10 күн бұрын
@@laladawson5550 yes maam surviving spouse I have videos on that too 🙏
@mikenance4713
@mikenance4713 11 күн бұрын
I also just PCS to fort Campbell, KY and will be here the next 3 years. Me and my wife were wanting to buy a house either here or at our next duty station location. Id probably be able to get started with the process to be qualified here but not my next duty station correct? I just dont want to wait too long and be missing out on paying down since i just got here.
@JimmyVercellino
@JimmyVercellino 10 күн бұрын
You're spot on Mike. At your current yes, next one you've got some time still. Let me know if I can personally assist.
@chaff5
@chaff5 11 күн бұрын
I think the best kind of investment you can do with your VA loan is getting a quadplex, if you can afford it. Any kind of du, tri, or quad plex would be great since you can offset your own payments with the tenants of the other units, possibly even to the point that you're living mortgage free. Then, again if you can afford it, do it again for the next property; another "plex." Now you have possibly 8 units, 7 of them rented, and you're likely living in profit. I wish I knew this when I first started.
@JimmyVercellino
@JimmyVercellino 10 күн бұрын
I agree.
@Sweets-qg5be
@Sweets-qg5be 11 күн бұрын
What is the best lender for VA loans. Trying to get my COE for building my first home.
@JimmyVercellino
@JimmyVercellino 10 күн бұрын
Hi! You definitley want to work with somebody who understands VA Construction to Perm.
@chrissmith2107
@chrissmith2107 14 күн бұрын
how much should I save up?
@JimmyVercellino
@JimmyVercellino 10 күн бұрын
That depends on several factors. However, you should always want to have 3-6 months of mortgage payments set aside going into a home. You may also need to have money saved for closing costs. This would be 2-3% of the purchase price if the seller is unwilling to pay for them.
@soulsolutionss
@soulsolutionss 14 күн бұрын
Im tracking
@JimmyVercellino
@JimmyVercellino 14 күн бұрын
Love it!!
@claytonluther4411
@claytonluther4411 15 күн бұрын
I’m a new fan Mr.Vercellino I’m 17 right now and I’m gonna be leaving to Army basic training in 3 months and I’m gonna be an active duty, am I gonna get a VA loan without being married and is serving for 4 years considered a veteran?
@JimmyVercellino
@JimmyVercellino 15 күн бұрын
Clayton, I can tell you the furthest thing from my mind at 17 was purchasing a home. I applaud you. You can purchase a home on active duty with as little as 90 days of service. Generally you won't be ready for 1-2 years in my experience.
@jasonstopka208
@jasonstopka208 15 күн бұрын
Hello Jimmy, just saw this video. Thank you for the information! I have a question about using the VA home loan when buying from a family member opposed to through a relator. I'm trying to avoid needing to use one. Wonder how much the process changes when I am buying the property from a family member, if at all?
@JimmyVercellino
@JimmyVercellino 15 күн бұрын
People do for sale by owners all the time. Zero issues. I can help you navigate that if you'd like. [email protected]
@jasonstopka208
@jasonstopka208 15 күн бұрын
I sent an email, I do have other questions aswell. Thank you.
@rod1147
@rod1147 16 күн бұрын
Great video, but what does "offset" mean for $250?
@JimmyVercellino
@JimmyVercellino 15 күн бұрын
Thanks Rod! Let's assume a Veteran had a mortgage payment of 1K and they rent out that home for 1K you only have to qualify with 250 dollars of the monthly payment for underwriting purposes. In other words the rental income will offset 75% of the mortgage payment. You following?
@rod1147
@rod1147 15 күн бұрын
@JimmyVercellino yea I get it. I was in the military around 2012 best time to buy but didn't because I didn't know jack... instead I was just saving cash letting it sit.. smh. I'm currently in a better position in life however.
@floydcorder7285
@floydcorder7285 16 күн бұрын
What if Im currently working overseas currently and want to buy a primary residents in the States for the first time. If my family is moving in but I continue to work overseas, does that count as occupying the home?
@JimmyVercellino
@JimmyVercellino 15 күн бұрын
Hey Floyd, would you be occupying the home when you returned back from deployment? Would it be in or around the duty station?
@emiliesophietafong838
@emiliesophietafong838 16 күн бұрын
Thank you so much for your great video,a well of info❤
@JimmyVercellino
@JimmyVercellino 16 күн бұрын
You are so welcome!
@si4016
@si4016 16 күн бұрын
VA loan just saved me 100k total loan after i did 2 sec of due diligence to see if the condo i bought was va approved. Good benefit if you arent putting in 20%
@JimmyVercellino
@JimmyVercellino 16 күн бұрын
Word!!
@augcort
@augcort 17 күн бұрын
Thank Jimmy love your content. Do you have an office in Az?
@JimmyVercellino
@JimmyVercellino 17 күн бұрын
Appreciate that. I sure do .