PROS and CONS of a VA Loan

[@artisanconcrete1212]

"Good to go" and "Adapt, improvise, and overcome" along with the info this motivated Marine is god damn outstanding!

[@JimmyVercellino]

LOL!! Let's go!!! Appreciate you my brother!

[@jasonfrost5025]

I could never stand those words and phrases, tbh. Was happy to never hear them again when I got out. Oh well.

[@artisanconcrete1212]

@@jasonfrost5025 why'd you join the Marines? what motivated you, chow, leave, and liberty? Man Im still a motivator, speed and intensity, bearing and proud of it.

[@jasonfrost5025]

@@artisanconcrete1212 Lots of reasons, but the buzzwords are awful. It also triggers my PTSD now.

[@JimmyVercellino]

Amen brother. Same.

[@harrymunro1933]

Awesome👏🏻 piece Jimmy. I was 56 when I hired a BA attorney to get the VA loan on my present home. I got the loan for the total purchase price, which allowed me to preserve my liquid cash. I don't plan to pay off this loan, although I could if I wished to. My rate is 2.25%, and I earn far more than that on my investments. Why in the world would I want to invest money at 2.25% by paying off my mortgage when I earn far higher returns on my cash? The OP has also stated elsewhere that VA would "auction off" the house if there is a loan on it when he or she dies. That's not how it works. The performance of VA loans-even through the 2008-2009 crisis-has been far better than other loan types. The VA home loan is the best loan program on the planet by far. It requires no down payment (100% financing), carries no mortgage insurance, and has rates about .375%-.50% lower than conventional loans. It's one of the benefits earned by people who have stepped up and worn the uniform to serve their country. Stay blessed and keep up your good work 👍🏻

[@JimmyVercellino]

Love this Harry - thank you for sharing your story. I'll see you at the top sir! -- Jimmy

[@allientesse1927]

Stay Blessed too

[@ralphmoreno6373]

Can you recommend me to the SBA attorney you hired ?

[@ralphmoreno6373]

Appreciate your response

[@harrymunro1933]

@grant_dock

[@michaelgaines2069]

Great info, Jimmy. I'm a Viet Nam disabled vet living in Southern California. I've been Pre- Approved as a first time buyer. I hope you'll keep posting info for us new vets.

[@JimmyVercellino]

Michael -- Helping Veterans increase wealth through the aquisition of real estate. That's what I do sir!! Blessings my brother!! Congrats -- always here to be a resource -- [e-mail]

[@ATthemusician]

I'm exempt from the funding fee luckily! On 50% disability, very thankful that I got all that medical stuff taken care of before i got out, and immediately after.

[@JimmyVercellino]

Important for sure!

[@babyell2927]

Me too!!

[@josephchartier1910]

From one veteran to another I want to thank you for this information was much helpful

[@JimmyVercellino]

Gratitude. Thank you

[@Koopadaville]

This man is squared away! His communication skills are superb. Thank you for the information. #SemperFi

[@JimmyVercellino]

Appreciate that Devin! Semper Fi Brother!!

[@jessefletcher7145]

Me the first 2 minutes into this video "RAHHH! YUT! KILL! RAAHHHHH!"

[@JimmyVercellino]

LOL!!!! Get some!!!

[@kingtabernacle8255]

RAHHH!!!

[@travistaylor6110]

YES!! So happy to see Marine pride still exists! I thought it was starting to disappear from this generation. OOORAH!!!

[@KenniaTLozadaRivera]

All Realtors need to watch your videos. Every video is highly educational! Subscribed today!

[@JimmyVercellino]

Thank you Kennia - 💯💯💪💪

[@donkeyclogs8161]

I'M SO GRATEFUL FOR YOUR VIDEO!! I shared with my husband, whom is a Veteran, but he STILL can't wrap his mind around what I'm trying to explain... so you broke it down exactly how I've been breaking it down for everyone.. haha!! Thanks for your video, sweetie!! I will keep up updated as we are currently planning a precise purchase (well I am, he's just along for the ride...🤣 😂... stay tuned! ~Bev 8)

[@JimmyVercellino]

Muchy love Bev! Blessings to you my friend! Thank you!

[@beejdailey9824]

Great presentation Sir! One thing I would add is that yes, you can use VA loans over and over again a hundred times throughout your life, HOWEVER only one at a time. So you have to pay that first loan off completely before getting that subsequent one (unless you are active and PCS). And it has to be on your primary principal residence. So you can't just buy a bunch of properties all over town with a VA loan on each and rent them all out. Exception is if you PCS from say CA with a VA loan in place, you can keep that loan, and rent out that house and can buy again with an additional VA loan at your new duty station town in TX for example. Semper Fi from an Army Guy!

[@JimmyVercellino]

Thanks Beej!

[@creativemode6594]

Thanks for the videos, I learned something new each one. I have had several VA loans and really enjoy not paying the funding fee due to the service-connected disability

[@JimmyVercellino]

Appreciate the comment. Blessings my brother!

[@joshuamaue8004]

Good to go?! Felt like i was in uniform sitting through a breef. Great job. Thanks for info

[@JimmyVercellino]

Glad it helped! Yes! Good to go!

[@richiegarcia7116]

Young veteran from corps and this has helped out so much for prepping for upcoming process towards end of year !

[@JimmyVercellino]

YUT! Love it Richie. See you at the top buddy!

[@alexngiraingas905]

Thank you. It is info that made me understand more indepth info on VA home loans.

[@JimmyVercellino]

Glad it was helpful!

[@samuelcrees]

Thanks so much; never used mine... will be my 1st time...

[@JimmyVercellino]

Good deal Samuel - if I can be of addtional assitance feel free to reach out to me at [e-mail]

[@arneshawilliams6978]

This was very helpful🙌🏽 Quick and easy to understand the basics! I know there are further benefits for veterans that are SC 100% total and permanent and those who were dual military. Could you elaborate on some things to know when that is the circumstance. Also information about only being able to buy certain types of homes and if we can buy land or not. Thank you again for all your help!

[@JimmyVercellino]

My pleasure Arnesha - thank you for the kind words and most importantly your service to our great country! Veterans that are 100% are able to have their VA Funding Fee waived which is going to save you BIG money when you use your VA Loan. VA Loans and Land is a no go. However, some lenders may assist you with a VA Loan Land Purchase and simo build. Plesae let me know if I can answer any other questions for you -- [e-mail]

[@ac-uk6hs]

Thank you guys for your service. If it weren't for you this country on this world would be a much darker place. God bless you

[@JimmyVercellino]

Much love - thank you!

[@thechatterbot]

I love this dude already Semper Fidelis brother

[@JimmyVercellino]

Appreciate you Juan 💯💪

[@qmcqueen2429]

Great info. Thanks Brother. Rah!

[@JimmyVercellino]

YUT!!

[@D3v3rs]

Once again, you got my interests.

[@JimmyVercellino]

💯

[@TheSSPodcast]

Great video and information. I want to use my VA loan to buy land and a modular home but I’m a bit confused at the process. Ughh

[@JimmyVercellino]

Thanks for the kind words! I too am doing it for Yah ;-) mod financing is tough. You'll want to find a lender who will lend provide this type of financing. I would check with local credit union or maybe wells fargo and ask if they do mobile home financing.

[@TheSSPodcast]

@@JimmyVercellino of course any time Brother. Sounds good. I bank with Navy Federal so I will talk tot run and se did they finance what I am looking for. Would I still be able to utilize the Zero down or would this type of loan be considered a construction loan and require down payment? I live in Swfl and the housing market is tough because Soo many people with “big money “ from Cali and NY are moving here. So the prices keep rising on top of climbing interest rates. So that is what has me looking into mod home and land purchase because I can still find an acre or two for around $40-$49k /‘d a. Ice mod home for $220k roughly.

[@Veteran22out]

Thank you just got my loan today

[@JimmyVercellino]

CONGRATS!!!

[@flavsngrace]

Thank u for the awesome education!!!!

[@JimmyVercellino]

I appreicate you and the kind words - it's my pleasure!

[@JoaneLouis]

Awesome video thank you!!!

[@JimmyVercellino]

My pleasure Joane. Appreciate the kind words!

[@cesargomez4997]

So clear and inspirational video… it gives the tools and motivation to go for it!! Thanks Brother

[@JimmyVercellino]

Thank YOU Cesar - I appreciate the kind words. Comments like yours make it all worth it.

[@AaronDeHart]

Aweosme video brother!! Good to go :)

[@JimmyVercellino]

Thanks a ton!

[@febebrown5277]

❤ Highly motivated, truly dedicated - give’em one - ORAH!

[@JimmyVercellino]

YUT!!!

[@matthewley6783]

Very easy to understand. Thank you

[@JimmyVercellino]

Best compliment I can receive. Thank you!

[@mikehernandez7462]

You are giving out comprehensive info..think I will reach out to you in spring 2022 I'm in California

[@JimmyVercellino]

Thank you for that wonderful compliment!

[@tomazmiranda560]

This video is great man

[@JimmyVercellino]

Hey I appreciate you Tomaz!

[@joijoi617]

This was awesome!😊

[@JimmyVercellino]

Appreciate it my friend!

[@ericsiddons2713]

210 days out from construction loan being complete to lock in a fixed rate for a VA loan. Started as a new law in 2018. Pretty sorry for law for Veterans. To use my VA loan, I would have to wait 210 days from start of construction date to lock in a fixed rate.

[@JimmyVercellino]

Thanks Eric

[@BrazilNil]

First THANK YOU for teaching all these!! Question: What do you mean "No Private Mortgage Insurance"? Wow, I just bought my home...Not my realtor neither the lander new anything in reference do this. The no down-payment - well at the last minute going over docs etc I got emails from the lander saying "...we will have to check how much $ you will have to come up for the closing..." I kept sending responses to "No I do not..." My realtor got involved and then the emails stopped in ref to the money at closing but never a response like 'oh I am sorry for the misleading info'. It was super stressful dealing with the realtor, lander, and the seller. My closing date was confirmed three times to be in Nov 2021. One week prior to the first walk through with the superintendent I got a call saying my closing date had been moved up to be in Oct 2021, and I had to be there for the walk through with the superintendent one week prior to the day of the walk through. I was like What? I am a disabled Vet, single mother, recently retired, and the State I was in was not doing less than 12 months leasing agreement. When mine expired in July 2021 (knowing that "Nov 2021" I would be in the home) I didn't want to renew the lease and then have expenses to break a lease and have that in my personal credit history. So I rented in another State because I had to be there for medical surgery visits etc anyway. So, I had a lot in my plate. My realtor did the first walk through in my place, which was the sellers idea (I asked the seller if my realtor was the one buying the home? She says that the 1st walk through was not important), they all told me the first walk through was not important. When I came to the home for the second walk through prior to closing, I marked everything and brought up the issues with the ceilings etc to all parties involved. I was told some stuff would get fixed but not the ceiling. They did not fixed majority of what I had pointed out, and the superintendent told me "You should have done that in the 1st walk through NOT now." I had the inspection and they said nothing about the ceiling (it's a pretty obvious issue with the ceiling) when I mentioned to the seller and the loan officer, they asked me if I wanted to drop the deal. My credit had been checked twice (so ding ding...) and the was what I could afford at the time. So I stayed with the lemon.

[@JimmyVercellino]

My pleasure! Thanks for the comment.

[@ericr8618]

Great educational piece! Looking forward to working with you guys soon!

[@JimmyVercellino]

Thanks Eric!!

[@babooshka07]

Great video!!

[@JimmyVercellino]

Thanks so much!

[@josiahgreen4341]

Simper Fi Devil Dog! Love your videos first of all, I’m definitely a fan. Got question about getting financed for a multi family home. The lender told me that some VA guidelines are that you must have experience before getting approved to home hack. Is that true?

[@JimmyVercellino]

YUT!!! Thanks Josiah. Good question. If you're qualifying for the loan on your own, and not relying on the rental income to be approved, VA does not require rental history.

[@josiahgreen4341]

@@JimmyVercellino thanks for the info. I already pre approved already with another company. He totally gave me BUM SCOOP. Their loss

[@JimmyVercellino]

@@josiahgreen4341 if you want a second opinion Josiah - i'm not hard to find! 💪💯 [e-mail]

[@chrismartinez6775]

Out-Fuc@ing Standing!!! Thanks for the info Marine!

[@JimmyVercellino]

haha! You got it!

[@HotSalamiandBacon]

Outstanding motivation devil

[@JimmyVercellino]

YUT!!

[@MrCuautla2000]

Always super great information, thank you very much brother.

[@JimmyVercellino]

Much love brother. Appreciate you!

[@wereallcriminals7424]

Do you have a video on Va loans on a new construction builds so I have the information before I start my pre approval ?

[@JimmyVercellino]

Sure do. Check it out in the library.

[@Snoopy1997Joshua]

Thank You

[@JimmyVercellino]

My pleasure 💯💪

[@braunatkins1423]

Great info, love the presentation 👍

[@JimmyVercellino]

Thanks Bruce 💪💪

[@angeltolentino6919]

Awesome video Jimmy! I'm always learning something new watching your videos! A recommendation I have for a future video you could do could be entitlement? Semper fi and God bless you!

[@JimmyVercellino]

Thank you so much Angel. I’ve done one on the past but I should probably update it.Thanks again for the valuable feedback.

[@megawatt3946]

Great video! Good info & content.

[@JimmyVercellino]

Glad it was helpful!

[@osiris3yhn]

Holy shyt! I've never heard of this va loan and I'm a vet!

[@JimmyVercellino]

Let's go!!!

[@lincolngarbutt7771]

Very good.

[@JimmyVercellino]

Many many thanks

[@edgarguevara3942]

Can you make a video of v.a loans for 100% dissabled vets please ex ,closing cost,escrow,all the info

[@JimmyVercellino]

Hey Edgar, you got it. Great idea!

[@margiemorgan9676]

I am a surviving spouse and my husband passed away about 26 years ago. As I understood, I have a VA home loan I could use but never used it. I was wondering what I have to do to access it. I am planning on buying a house after getting my finances straight and save money in time before purchasing.

[@JimmyVercellino]

Hi Margie, I'm sorry to hear about your husbands passing. I would like to discuss your scenario over the phone or via email. Can you please email me at [e-mail] ?

[@taniabrunson73]

😂😂thank you for your motivated explanation!!

[@JimmyVercellino]

My pleasure Tania!!! -- Jimmy

[@krisshreds]

Good to go! Great presentation 👏 💯

[@JimmyVercellino]

Thank you Tensai!!

[@lancejohnson3373]

Great info. Thank you!

[@JimmyVercellino]

Appreciate that Lance!!

[@rlittlejohn2772]

Great job my fellow veteran

[@JimmyVercellino]

thanks my fellow veteran

[@kevinjustice9850]

the "good to go"! Once a Marine always A Marine! Oorah!!

[@JimmyVercellino]

YUT!!

[@joserosario8275]

Awesome video.

[@JimmyVercellino]

💯💯💪💪

[@therealtorcruz]

Valuable information. Thank you Jimmy. Does Section 1 or Section 2 items have to be cleared for a VA purchase?

[@JimmyVercellino]

Good question @realtorcruz ! Section 1 items will always need to be remedied. Regarding section 2 that will be an underwriter discretion call. Always safe to have them both cleared if possible.

[@dellrugby]

Liked and subbed. I just got my DD214. I am a contractor in Qatar but want to buy a house In Maine before I leave, I have 2 more years of work. Should I buy now?

[@JimmyVercellino]

Appreciate it sir! Just replied to your email! Looking forward to connecting with you...

[@santanah.6897]

Thx fr video bro

[@JimmyVercellino]

My pleasure Santana!

[@ctrsupplier]

What about the one time close construction loan?

[@JimmyVercellino]

It's an option and can be done.

[@StevenChambers-d8m]

Very good info, question so with this origination fee are there also closing costs too?

[@JimmyVercellino]

correct, there are addtional costs in conjuction with the purchase of the home. This number can vary but I typically tell my clients to estimate roughly 3% of the purchase price. Let me know if I can answer any other questions Steve - [e-mail]

[@CalebJNelson]

Would you clarify whether or not the funding is required as a down payment? Also, are there ways to minimize the closing cost, or include that in the loan?

[@JimmyVercellino]

Sure. The VAFF can be rolled into the loan or paid in full at closing. Now if the veteran does opt to put down 5 or 10% down they can VA reduces the VAFF allowing the veteran to save money so of the vet is in a position to do so it could make sense. Let me know if that helps - [e-mail]

[@braedenlogue7626]

could you do a FHA LOAN PRO / CON AND EXPLAIN WHAT IT IS!!

[@JimmyVercellino]

Hey Braeden, sure I could do that.

[@bigo6694]

The biggest con is that most sellers will not even consider it. When multiple offers are on the table they will go with cash or conventional. I sold my house in September 2020. And none off my offers were accepted when rates were low. I now that rates have tripled and housing prices have doubled I can not afford to buy. I have been renting for 3.5 years. It isn't a myth that sellers do not find VA loans appealing.

[@JimmyVercellino]

Yeah man, what you share is something I've fought my entire career and continue to this day. It simply takes education. Educating people about the truth of VA Loan to help them to understand how it works and that it's not a bad loan.

[@dimesauce10]

You the man👊🏾

[@JimmyVercellino]

No no no…You Da Man!!!

[@nathanburmann1979]

VA Inspections are a negative. I am a Marine veteran with a VA loan and my closing (2016) was delayed because the inspector stated the hot water in the shower did not get "hot enough". The inspector had to be explained how to operate the controls on the faucet. This delayed my closing by one week. The inspector also delayed my closing due to paint that had chipped off the exterior of the house exposing a lighter shade of paint underneath. The seller had to have the entire exterior repainted before passing inspection. I know of a veteran that had his delayed by an inspector who cited hardwater stains and rust on the exterior of the house. VA inspectors will deny and delay your loan for cosmetic issues. That said not all inspectors will do this however it is still common.

[@JimmyVercellino]

Hi Nathan, Semper Fi Sir! There are no such things as a "VA inspection" as VA does not require a property inspection. The VA does require an Appraisal where the appraiser looks for 3 things in addition to the opinion of value that the property is Safe, Sound, and Sanitary. So long as you check those three boxes you shouldn't have any issues with the home. With what you mention above those would fall under the sanitary aspect of the home and would be considered a safety hazard. Let me know if you have any additional questions.

[@nellieg1027]

Just closed on townhouse with a VA loan. They did required an inspection of the property but we paid for it out of pocket and chose our own. The appraisal money got credited towards closing.

[@Rmmah100]

That's on the inspector. Also, the seller's agent should've been on it. We have an idea of what may or may not pass inspection. That's why some ppl request conventional loans only, because they're homes are too jacked up to pass inspection. Yes, your closing was delayed, but the vet buyer will always be taken care of

[@darylcrabtree7176]

I chose my own inspector and because of him I got a new roof.

[@mr.z3161]

Cons: some properties do not qualify for VA Loans like condos and townhomes. From what I heard from Vets.

[@JimmyVercellino]

Thanks for the condo. You can use a VA Loan to purchase a condo so long as it's on the VA Approved condo website. If it's not, you can submit for approval it just might take some addtional time. Regarding townhomes, VA does not have any restrictions. Thanks!

[@joeytrust4393]

Can you address the pros and cons of using the VA loan to pursue a house that hasn’t been built yet?

[@JimmyVercellino]

Good question - there are some different requirements related to a custom build using a VA Loan. You’d want to check out some of my older videos on construction loans.

[@1ycj]

Sender FI my fellow Marine! Your explanation of the VA loan pros and cons were on point 👏🏼👏🏼👏🏼👏🏼. New subby here. I’m in the unfortunate process of going through a short sale now and luckily my buyer submitted an offer ten thousand more than my actual asking, but still obligated from the seller side of thing have to factor in commission to the realtor (s) and any other fees associated with the sale which from the realtors standpoint I still will walk away empty handed. Sad to say but was also advised from the banks standing representing me the seller I can also ask for relocation assistance from my services. Are u aware of this? Your response will be greatly appreciated and welcomed.

[@JimmyVercellino]

Hello, thank you for your comment. I am somewhat familiar with short sales in career back iin the 2008-2011 period. With that being said, I have heard of instances where there is money offer to the seller at the end of the transaction to vacate the property this use to be referred to as 'cash for keys" I'm not exactly sure that's what you are referencing here however. Please let me know if I can answer any questions.

[@1ycj]

Spelling was wrong sorry, Semper Fi leatherneck!

[@ddscene2453]

Thank you for this information. My husband found you and sent me this. My question is do VA loans cover off the grid homes? Would we need a doctor's letter as to why we need a home off the grid?

[@JimmyVercellino]

Hi DD - my pleasure. When you say "off the grid homes" how do you mean exactly?

[@georgestreeter3992]

What if you had to turn a VA fund home back to the lender in leiu of fprclosure because you came down on assignment for an overseas assignement and you coultn't sell the home because the neighborhood went down? In short, I did a home turn in in leiu of forclosure and the VA lost money?

[@JimmyVercellino]

Hello George, based off of what you shared above I would expect their to be a charge / claim against your entitlement. Now, you may still have some remaining so it's important to keep that in mind. My suggestion would be to obtain a copy of your COE from your ebenefits portal and send me a copy and we can read it together -- [e-mail]

[@michaelfelix174]

Hey Jim so I had a question. Would it be a good idea then to use the VA loan to buy a house only to end up moving again after just 1 year? I was told I'd be potentially losing money if I did that since I wouldn't be staying on that property for more than a year. With that being said, I was told that a long-term time horizon would be best because being that I’m a first time buyer, I’d be charged an upfront funding fee of 2.3% added onto the cost of the house.

[@JimmyVercellino]

Hi Michael, that's a good question and some of the points you make below are well taken. The longer you are on real estate the better. If you try to sell your home in 1 year or less the rate of appreciation in the home might not give you enough equity to sell. This would apply to any loan type and not just va with a funding fee. One idea might be to buy a home and rent it out instead of trying to sell. If you're looking to build a real estate portfolio this is one way to begin that process. Please let me know what questions I can answer for you. -- [e-mail]

[@Killedoffbycupid3113]

My husband was wondering if you need a certain credit score to use it

[@JimmyVercellino]

Good question. Typically most lenders require a minimum credit score of 620 to qualify. HOpe that helps.

[@samimo3697]

Great video Jimmy! I’m in the army reserve, and I was told that I have to do 90 consecutive days of active duty to use the loan. How can I go about doing those 90 days ? And where to go? Thank you!

[@JimmyVercellino]

Hi Sami - your command would typically call you to active duty. VA requires 90 days of active duty or 6 years for reservists.

[@matthewbowers6178]

You look for deployment and volunteer or find a way back to active duty. Did this many times

[@t.c.canales3358]

If you have a service connected disability percentage given after the loans already approved and in effect, can the funding fee still be zeroed out?

[@JimmyVercellino]

If it's during escrow yes. If not, you can have it refunded after the close of escrow. -- Jimmy

[@paultaylor4342]

thank you for this information it was helpful for my wife and do you know anything about a business loan the business is already Established just taking it over i know its not a home loan or do you have information i can look up for them

[@JimmyVercellino]

Thanks Paul!

[@andrewdavenport8193]

So what if you use your VA loan to get a house while active but get out with disability would I be able to refinance to get the VA loan fees waived?

[@JimmyVercellino]

Yes you could. However, the VA funding fee cannot be wavied in retrospect. In other words, the next time you use your VA Loan it will be waived. So if you refi or buy another home you'll never have to pay it again! Thanks! [e-mail]

[@akila219]

what if a conventional loan has a lower interest rate than a va loan? I’m willing to put a 20% downpayment or more to lower my monthly payments. i also have a 50% plus disability. i was lookin yesterday on NFCU mortgage rates, their conventional loan (5% down) is lower than va loan. what other fees does a conventional loan have that a va loan doesn’t or vice versa?

[@JimmyVercellino]

Really good question Akila. In my exmperience this is a bit of an anomaly. Rarely have I seen this happen, as VA rates tend to trade roughly .25-.375% better on average. With that in mind, if you can get a conventional loan with 20% down and NO MI it would not be a bad idea to use that as a financing option and keep your VA in your back pocket for the next purchase to deploy at another time. Hope that helps!

[@akila219]

@@JimmyVercellino what is 'NO MI?' thanks for your response

[@aherrera231]

Hi Jimmy, thanks for this. On a VA cash out refi..can that money be used to pay for a second home? A retirement home is what's on my mind, but I'm not ready to sell the existing home..thanks

[@JimmyVercellino]

My pleasure and yes it most certainly can.

[@luisflores7587]

Hello, I currently have a duplex on a VA loan on a 2.5% int. in CA. I've lived in one of the homes for over 3 yrs and rented the other. My current employer is relocating me and my family to Indiana. Is there a way for me to have a second VA loan without refinancing my current loan? My first loan was 690K.

[@JimmyVercellino]

Yes Luis, there is. We'd have to do an entitlement calc to see how much you have remaining. If you email me at [e-mail] I put together an analysis for you and get you headed in the right direction (towards IN). Talk soon!

[@kimmi608019]

Hi, I’m using my VA Loan benefit for the first time. I’m a Vietnam Vet. I’m 100% service connected , Total and Permanent Disability. I ask for my COE and was denied. Is there any reason why I was denied ? Thanks, keep up.

[@JimmyVercellino]

Hey Joe - Answered your question on a separate thread. Pls shoot me an email and I can help you obtain a copy. 💯💪

[@newellcherry3083]

Hey boss, quicky for you. When I moved to Texas I didn't have to put any money down at close. It was all rolled into the loan. I'm currently working with a lender in Louisiana and they said we can't roll that in even though I negotiated 6,500 under fair market. Was I wrong in thinking that close could be rolled into the loan?

[@JimmyVercellino]

Hey Newell - your lender is correct. You’re unable to roll costs into loan. You can request a higher rate and use the premium to offset costs which could be a solution.

[@j_c332]

Let's say you are retiring from service and you purchased a home prior, now that you are out and have S.C is there a way to remove the VAFF?

[@JimmyVercellino]

Good question. The answer is yes, however, you need to have applied prior to the applcation date.

[@JimmyVercellino]

allow me to add...if that did not happen you would not be eligble to have your VA FF reimbursed.

[@j_c332]

Thanks for the clarification.

[@JimmyVercellino]

@@j_c332 100% let me know if I can be a resource in any other way [e-mail]

[@kellmarktv]

So understandable 👍🏽

[@JimmyVercellino]

my man! thank you!

[@kellmarktv]

@@JimmyVercellino new subscriber👌🏽

[@joeytrust4393]

I’m trying to figure out the cheapest way possible to own property using the VA loan. Can I buy a small piece of land and build a tiny home on it with the VA loan?

[@JimmyVercellino]

Hey Joey - thanks for the question. I’m not aware of any lenders who will do this. I would see what KZbin has to say about financing tiny homes.

[@joeytrust4393]

@@JimmyVercellino, so is there a minimum amount you have to go into debt for, and if so, what’s the amount?

[@JimmyVercellino]

@@joeytrust4393 hey Joey 1 depends on the lender. I’ve seen some go as low as 50K

[@joeytrust4393]

@@JimmyVercellino, can you use the VA loan to buy a fixer upper and renovate?

[@dl3908]

Con: I was denied my VA home loan because I did not have the same employment field for two consecutive years and my rental history was adventurous.

[@JimmyVercellino]

I'm sorry tghat happend. I would consider getting a second opinion. Thank you!

[@jenniesloan600]

We are currently in the VA loan process and we’re told now ( a few weeks into the process) It’s not zero down .. Help

[@JimmyVercellino]

Hmmmmm can you email me personally to look at with you? [e-mail]

[@royandrews7423]

How do i buy a hobby farm using my VA benefits?

[@JimmyVercellino]

Hello ! VA guidelines do not allow for hobby farms. Now you could buy a home with land and build a farm.

[@warymartinez6821]

Can you please talk about dti and the va loan ?

[@JimmyVercellino]

That’s a great video idea. I’ll def discuss that.

[@JimmyVercellino]

Hi Wary, VA does not have a max DTI requirement believe it not. You must meet the residual income requirement which is a pre set number by the VA based off of your family size. Let me know if I can answer any other specific questions.

[@warymartinez6821]

Thank you so much for your reply , I live in anchorage Alaska do you offer your service here ?

[@warymartinez6821]

@@JimmyVercellino also it’s just me and my wife

[@Kaytoofine]

They don’t really care, whatever you make a month for instance if u get 4531, they will put something like 5700-6000 on the application. But as long as you have good payment history.

[@hailuaduhi2670]

Jimmy , how I can use VA loan for second times or even more . For example: I have jumbo loan in San Diego 600k in 2019 so, if I want moving out to close with my kid school and using 2 times . Have any requirements for 2 times . Please advise

[@JimmyVercellino]

Hi Adam - in that instance you’ve used all of your VA Loan and you likely don’t have enough to deploy on the new house. To take advantage of the remaining about you would want to consider refinancing your home out of the VA (into a conventional) which would then free up the VA. Please email me with any other questions - [e-mail]

[@vitaminwater6235]

Wow I had no idea if you had a service connected injury you don’t have to pay the funding fee. I’m good to go. My 10% tinnitus around aircraft has paid off 😂

[@saramatthews7159]

lol exactly i got the same disability rating for the same thing

[@JimmyVercellino]

💪💪💯💯

[@CampeonMarinero]

If I want to purchase a home using my VA loan, and I live in it but I want to rent out a room inside as an AirBnB, is that allowed?

[@JimmyVercellino]

Hi Jay, I see no issues with what you describe above!

[@RonaldHebert-bw4bm]

I was thinking of a Navy Federal Credit Union VA loan. Would it cost any additional money for your team to work on my next purchase comparedvwith a loan officer from the credit union?

[@JimmyVercellino]

Hi Ron - would be honored to be a resource. You're certainly welcome to compare us to NFCU. Shoot me an email [e-mail]

[@winniegilligan9692]

I am also senior citizens

[@JimmyVercellino]

Thanks Winnie!

[@winniegilligan9692]

@@JimmyVercellino I just know that I am the widow of 2 husbands and all I can get is my SS so I will be 65 in a few months and I can’t even afford to maintain my home YES I NEED help for a little maintenance

[@billbyrd9845]

So you're saying that the lender is on the hook for 75% if the vet never makes the first payment?

[@JimmyVercellino]

Yes sir. VA guarantees 25%. Let me know if you have any othger questions. -- Jimmy

[@pablohernandez4714]

What if I only serve one contract will the loan be taken away from me

[@JimmyVercellino]

I don't see why...

[@jbs2763]

VA loan still worth it with ~ 50% down? No funding fee with disability rating

[@JimmyVercellino]

I would say yes, you'll likley get a lower rate in my opinion.

[@Whimsical-Rose]

This sounds like 100% of all VA’s are guaranteed a home loan. As long as you have been employed for 2 or more years. Am I missing something that wouldn’t qualify a loan approval?

[@JimmyVercellino]

VA and the lender will both require that you qualify by way of income and credit. Let me know if I can answer any other questions!

[@tishaniamorris8789]

Can you use a VA loan on a New Contruction home?

[@JimmyVercellino]

You sure can. I have a video on this on my channel :-)

[@kdtheshooter]

Can I purchase a house along with my father, using his VA loan? Co-signer?

[@JimmyVercellino]

You sure can. Keep in mind however, VA would require a 12.5% down if he's not a veteran and won't live in the property.

[@johshaka]

I went to buy a condo, but they said that it wasn't VA approved.

[@JimmyVercellino]

VA requires that the condo be on the approved property list. If you email me at [e-mail] I’ll send you a copy.

[@OfficalMineTechHD]

Isn’t VAFF waived if disabled

[@JimmyVercellino]

Yessir. Waived, for life!