VA Loan Explained - Understanding the Full Process

[@JakeBroe]

Thanks for watching! Check out my entire playlist on buying a home here: kzbin.info/aero/PLscTZuOqKWIz97DBmq5r-4IciwL6uKJfQ

[@daysrcdays]

Why do only 12% of veterans that qualify for a va loan at the end of their service ever qualify to get a home? Please explain these unusable benefits to the other 88% that don't qualify but have earned the benifits?

[@xSTstSTx]

Nice video. If you and your spouse are dual military can you use your va loans separately?

[@GandalftheWise]

You can really tell this guy's from the Air Force. The video was well put together. If this was Army, it would be a bunch of PowerPoint slides done by some specialist who doesn't want to be there LOL

[@JakeBroe]

Thanks Gandalf! Cheers!

[@Xtremeproducts]

I’m in the Army and I agree

[@HELLUVA.FIGHTER]

I was in the army as well, got out as an E-4 Mafia member and I back your statement 100% gandalf 😂😂

[@Xtremeproducts]

@@HELLUVA.FIGHTER e4 mafia

[@emmettmortgage]

Come on man. Former Army here. We hate Powerpoint. 😂

[@TheSnappyNappyDugout]

THIS....IS.....WHAT.....I.....NEEDED.....TO....HEAR!!!!!! Straight to the point, no joking around, no bullshit. Best I've seen so far. And I understood every single thing he said.

[@JakeBroe]

That's what I shoot for on my channel! Best of luck to you!

[@Kingshock]

I agree very clearly put and easy for my Army brain to understand 😂

[@kayg3405]

Exactly. He did well breaking the info down.

[@chuyicui1923]

Had an application with Veterans United and Navy Federal. VU can close in a month with a 3.125% rate for credits under 700, and 2.99% above 700. Navy Federal needs two months to close but with a 2.5%, and it's freedom lock, meaning if you see the rates go down anytime before closing, you have the freedom to change the rate from 2.5% to a lower rate, even you have locked it at 2.5%.

[@SoloJourneyandPJ]

My my have the rate increased 😵‍💫

[@cheeriomartinez]

Dude... THIS was the video I should have seen two years ago before I bought my condo. Honestly man, you did a great job! Specially when telling veterans that they aren't really VA recommended or just act friendly.

[@JakeBroe]

Thanks so much cheerio! I appreciate the comment!

[@Ozkhar1]

Thank you for your service, Jake. I am a realtor in NJ and just helped my friend who is a veteran, to close on his first home. It was a challenging task and I learn a thing or two. I'm watching your video in order to learn more and be a supportive veteran and active duty advocating realtor. I took a class this morning from the V.A. loan Org and received a certificate of proficiency. God bless America.

[@JakeBroe]

Thanks for your support Oscar! Glad you found the video and found it helpful! Cheers!

[@sheliamurphy4231]

RIP OFF!!! Dont use Veteran United!!! They scheme to raise your interest and other closing cost. You wont even realize you've been screwed until after the fact. DATE RAPED!!! They dilly dallied around up to closing date, had to extend it twice, and causing us to lose our deposit.They should not be allowed to even use the term VETERAN as the name of their Business Name!!! I'm reporting them with the Dept of Financial Regulation. They are scammers. I paid them $600 for what they claimed was a VA Appraisal/Inspection...which it wasn't VA, it was their Bank. They scammed us into portraying it was a VA Represenator. It wasn't!!!

[@nasiarmair]

Are you still an active realtor in NJ?

[@kenn-alv]

I have seen many VA loan walk-through videos, but by far this is well explained. It takes a lot for me to comment but kudos to this guy, Marine vet here. Thank you for your damn service sir haha

[@mr.matthews67]

I got out of the military 2012 and I think that you have explained this the best that I have seen yet. Well done.

[@JakeBroe]

Thanks Dustin! I appreciate that!

[@dgjFOURlife]

Agreed

[@Nick19904]

Thanks brother. I am in the Marines (8 years active duty) and have been looking at owning a home. This has been the most helpful video thus far!

[@JakeBroe]

Awesome! Glad you found my channel Nick! Cheers!

[@johnfloyd1866]

🥾

[@Nick19904]

@@johnfloyd1866 lol indeed

[@johnfloyd1866]

@@Nick19904 ❤️

[@ChinBiter47]

​@johnfloyd1866 Risky pfp bro, ive seen peeps get fried for much less. And is that your real name..? 😂

[@selsahmwishen2981]

I spent days trying to get the right informatiom about VA loan, even after watching numerous videos that related to this subject, I felt that the content provided in those videos did not fully answer the questions that I had. You have exhausted the information that I needed. straight to the point and well articulated. Thank you. I couldn't deny you a like and subscription. I have really enjoyed watching and listening to this content.

[@xphoferfurx]

Thank you so much for clear, concise, and detailed information regarding the VA loan. My husband and I are looking at our choices after leaving the military. Your video made me a little less scared and really helps solidify our choices. Great work!

[@JakeBroe]

Thanks so much Jengar! I wish you and your husband best of luck in your post-military life together. The VA loan is a great benefit and I am sure you guys will enjoy being home owners. Good luck!

[@dan4500]

Going through it right now, currently in underwriting. It's been an amazing process, so simple, I've never bought a house before and was told it was daunting.

[@JakeBroe]

That's awesome Dan! Congrats on buying a home!

[@billangell6478]

To start, I have a quote from a from a few Air Force guys I’ve worked with “Why not Minot” . Thanks for explaining this and the process, I’m a first time home buyer looking to use the VA loan, this is the first time I’ve ever heard it explained the way you did. Before this I thought it was some magical entity, now I know it’s the equivalent of a down payment. The rest is sound info to be reminded of. Even as a base understanding, this video is going to help a lot of service guys and vets, that’s why I’m commenting and leaving a like.

[@JakeBroe]

Thanks so much Bill! I appreciate the comment and that's awesome you will be using your VA Loan soon! It's a great benefit! Happy house hunting!

[@johnbryant1025]

this is a great video. retiring in 2 1/2 years. wife is med retired. managed to use her VA loan and didn't have to pay the VA fee. had the appraisal on our future home today. great information and it verified everything ive been told by my realtor, lender and what ive been able to research. good job.

[@JakeBroe]

Thanks John! I appreciate that!

[@kk_giirl]

Congrats!

[@johnanthonymartininciong5203]

been on so many vids about VA loan. and this is the best explanation. Thank you sir

[@XxBillyGoatNinjaxX]

Saving this video for later. This is the best video on va loans. They never told us about this before I got out! Thank you

[@JakeBroe]

Thanks so much Ya Boi! Happy house hunting!

[@catcall569]

From one USAF Veteran to another. Thank you for this information.

[@JakeBroe]

You are very welcome Daniel! Cheers!

[@And-vm5ms]

This is the best video on VA loans I have found! Thank you so much for putting the time to break it down in an easy to understand manner. 🙏🏼

[@JakeBroe]

Haha, I was thinking the same thing as I filmed it. I hope more people can find it. Best of luck!

[@lewis20002000]

Great job Captain, I use to own a condo back in 2007---2010. Well I had to do a short sale eventually, but looking back I didn't take advantage of the VA. I am going to use the VA for a loan before I retire from the Navy for sure.

[@JakeBroe]

Thanks lewis! The VA Loan benefit is for life and you can use it multiple times. Amazing!

[@TheCommentSection]

9:50 is gold! Thank you

[@BrandonStewartCS]

I'm getting out of the Marines after 8 years and this video is super helpful. Thanks man!

[@JakeBroe]

You are very welcome Brandon! Best of luck to you!

[@armin2621]

thank you! this was hands down the best video I could have came across in search of learning more about VA loans

[@JakeBroe]

Awesome! Thanks for letting me know Armin. Cheers!

[@pjwed8163]

This was perfect, this was the best video I’ve watched on KZbin, may God bless you

[@tripd8178]

Just an FYI, Seller concessions are not the same as closing costs- they can be used to pay some of the closing costs. Seller concessions are monies the sellers are crediting back to the buyer at closing towards costs such as the closing costs

[@dutchbrown3510]

Thanks much, I have been watching a bunch of videos regarding the process when using va loan .I think I understand now.

[@NaamWynn]

Great video man! I definitely will save this. Every now and then I forget all the stuff that goes along with the VA Loan.

[@JakeBroe]

Thanks Naam! Congrats on almost hitting 50k subs! I am never going to catch you if you keep outpacing me like this, lol. Also, check out my follow video to this about Dave Ramsey not liking the VA Loan kzbin.info/www/bejne/pGWTYpdmr515hNU

[@NaamWynn]

@@JakeBroe Thanks, man! Already checked it out. Smashed that like too

[@KelvinCain]

You deserve an award for this, Brother. Thanks!

[@JakeBroe]

Thanks so much PBE! Cheers!

[@MomentoMori515]

Tons of well-articulated, need-to-know information. Big sentence for a Marine, thanks dude

[@DubZer020]

Excellent video! I went through this process last year. As for the funding fee, I might need to go back and look at my documents. If I am getting a percentage, I should be exempt from that few. I might be getting a refund. 🙌🏾

[@JakeBroe]

That's awesome Kadeem! Congrats on being a home owner!

[@sneakynGG]

where did you find a place that does 2.5% interest rates?

[@margiet7297]

Thank you so much for the information. Best video so far that explains VA loan process.

[@marielacampusano7947]

You’re the best! Super informative. Thank you for taking the time to do this.

[@hollyboston3697]

thank you for explaining this so well and concisely ! VA loans are an awesome service member benefit

[@Dedricko]

I loved this Video, I am currently in the process of separating from the Navy and this gave me a lot of insight.

[@JakeBroe]

Awesome Dedriko! Thanks for your service and I wish you the best of luck with home ownership! Cheers!

[@michaela9472]

Clear and concise information presented by a Professional. SPOT ON! Thank you

[@JakeBroe]

You are very welcome Michael! Cheers!

[@tyegrey_gamr]

I am a veteran who used the VA home loan, the VA worked hard to help me out and was working with my disabilities. I really wish I would have seen this video before it would have made it a lot helpful it's amazing how many trash videos are out there I had to go through upon a decent one

[@JakeBroe]

Thanks Kelly! I agree... there are lot of trash videos out there on the LA Loan of people trying to sell people stuff. I wanted to make this video as a neutral informer. I'm not trying to sell anyone anything. Glad the VA Loan worked out for you!

[@roburb73]

As a disabled vet, has been perfect for me. And, it makes a big difference every time I refinance. I did one VA loan before I retired and man did that funding fee sting. 🤣

[@JakeBroe]

That's great Rob! I think if I used the VA Loan I would also eventually refinance my mortgage to a conventional loan to free up my VA Loan benefit again, then move to a new house and start renting out my old one.

[@emilyforeman2646]

They way the funding fee was explained to me, rather than having the buyer pay mortgage insurance (like most people would need to do) the funding fee is a way to have a kind of mortgage insurance that's paid upfront but that can be attached into the loan. Still better off than if you have to pay mortgage insurance over the life of the loan but it certainly does suck when you don't realize at first why you're paying so much extra money!

[@HiiPANDA_]

Well this just had me become more terrified of the process. But excellent Information.

[@danniekelly3874]

This video is very helpful for my family, we are planning to buy a home with VA loan this year.

[@itzdm0r3]

Thank you for serving Jake. I'm a navy vet looking for advice on using my first va loan. So far I have my certificate of eligibility but I'm stuck on what to do or look for next.

[@sector783]

Are you looking to buy? Well then your next step would be to get preapproved by a lender.

[@Alvin_1914]

Great video Captain. After I finish the book I am currently reading, I have two home buying books to read. I am hoping to use my VA loan myself next summer. Excellent content good sir!

[@JakeBroe]

That's great Alvin! It's a great benefit! My next two videos coming this week are also related to the VA Loan, so be sure to check those out as well. I think you will find them interesting!

[@MsNorthCarolina]

Let me know if you need a Certified VA Realtor 😊

[@DHebert-t7h]

Such a helpful video honestly. What I needed

[@brittanyw1827]

This video is amazing and so helpful! Straight to the point, super informative and very well put together. Thank you!

[@JakeBroe]

Thanks so much Brittany! Cheers!

[@Zusse]

Dude thank you I really needed this video I got out a year ago and I really needed to understand how the VA loan worked

[@JakeBroe]

Glad you found my video Zusse! Cheers!

[@fvckmar]

Thank you. I feel better going into this process now

[@JakeBroe]

Thanks for watching! Best of luck Mario!

[@pointtopoints3222]

Great topic. Used my VA loan and appreciated the benefit.

[@JakeBroe]

It's a great benefit for sure P2P! Cheers!

[@demancey]

Ditto. Much easier with banks that are familiar with the process like Navy Fed and USAA

[@marionwallsten7507]

Thank you for your great presentation ! Thank you for your service ! Greetings from a surviving spouse of a Green Beret.

[@seanchapman4656]

this video is absolutely amazing! keep it up!

[@JakeBroe]

Thanks so much Sean! Cheers!

[@andrescott1883]

Wow, I was stationed at Minot from 1999 to 2004. Thanks for the video

[@JakeBroe]

You are very welcome Andre! Cheers!

[@Galatians516]

U.S. Army approves this video. Great job sir.

[@JakeBroe]

Thanks so much! Cheers!

[@kietvo7423]

Once again, Thank you for your SERVICE!

[@raulcuevas5291]

I really liked the graphic about the "yes" or "no" whether we should be buying or renting. I was wondering, what if you are moving to an area where it is cheaper to buy than to rent? This would include your maintenance fees, home fees, etc. Thank you for your videos and for your service.

[@JakeBroe]

Hey Raul! I think it all depends on how long you will live there. I think anything greater than 3 years, then buying makes sense. Anything less than 3 years and maybe the savings you'd make from buying and then selling when you leave is not worth the effort and risk (unexpected costs to the home and the risk of not being able to sell when you want).

[@randywiley2593]

Just found your show and love it thx for your service In both these videos and military

[@JakeBroe]

Thanks for your support Randy! I appreciate it!

[@tonyp9616]

Always straight to the point and informative, thank you man sincerely!

[@TheGooeyOne28]

Such a great and helpful video. Thank you for making this I learned a lot!

[@JakeBroe]

Awesome! Thanks Gooey! Best of luck to you!

[@kootybear]

Thank you very much for the video. I am looking to buy and am starting the process. Just waiting on an appraisal. My dad is living in a house that was suppose to be my mothers when my grandma passed away, it was in a trust. Mom passed away in 2020 and my grandma passed away earlier this year. My father doesnt have the history to be able to purcahse the house. So its down to me. Have decent to good credit and the house going for a great price due to repairs my father did. They were able to appraise the house (evil aunts attorney 72,900) and dads attorney (70000), the aunts offered to sell for 45-46, still waiting for all the paperwork. Hoping Veterans United says yes, with just the equity already in the house should be a no brainer. Your video was very insightful. Should be getting the appraisal this upcoming week and here I go.

[@mrgonzalez947]

Thank you very much excellent video from one veteran to another Thank you for your service 🙏

[@JakeBroe]

Thanks for your support Gonzalez! Cheers!

[@dancam5812]

amazing video , still kinda scared like how do i do this by myself ? or do the lenders or realtors help ?

[@AaronDeHart]

@Jake Bro! Thanks for your service bro!!! Fly, Fight , Win!!!

[@ASavagejoker]

Thank you for the very informative video!! Question how does this differ for reservists?

[@sheelaguion1510]

love the video really helped me out understand.. studying for mo test

[@JakeBroe]

Awesome! Glad to help sheela! Cheers!

[@mohammaddaoud68]

Really good information, thank you brother

[@davidhenderson4551]

Can you talk about the 4 plex process? Is it the same as buy a single family home? I’ve heard that the 4 plex and renting it out is the way to go.

[@giovannibloom6433]

I second this! Also, great video!

[@TOXIC-jq3ry]

I love the comedy. $200k home? Bahaha!

[@thewinslows2]

At the 6:42 point in the video, you mentioned it may be better not to use your VA loan if you are paying over 20% down. Can you explain why? Thanx in advance.

[@Peter-fm2vx]

Great great info buddy! Air Force rocks✈️

[@JakeBroe]

Thanks Peter! Cheers!

[@donhodges1965]

ya go buy a house and then the VA will as always decided to reduce your benefits without warning and you loose everything!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@djlimbo6170]

Oh my gosh,..it was a lot more than helpful than I thought! Thank you for this solid information !! AIM HIGH!!

[@JakeBroe]

Thanks Jeff! Best of luck house hunting!

[@darrontaebullock3069]

great video very informative, thank you!

[@JakeBroe]

You are very welcome Darrontae! Cheers!

[@JacksonWelch]

Come to Dayton, Ohio! Wright Patt is a great place to work.

[@JakeBroe]

Haha, I wish there was some way to get out of North Dakota... but the Air Force doesn't want to let me leave here...

[@tijesunimiajala4886]

Thank you very much for sharing. This information is helpful as have started evaluating my options. Much appreciated...

[@JakeBroe]

You are very welcome Ajala! Happy house hunting to you!

[@tijesunimiajala4886]

I will reachout to you privately for more information about the Navy and options of the VA Loan for a service member. Thank you sir...

[@deeptigopalareddy6090]

Great Video. Thank you Much for detailed and very helpful video.

[@JakeBroe]

You are very welcome Deepti! Cheers!

[@DCRACKA]

So happy to have been able to use my VA loan, Veteran's United helped us through the whole process n made it real easy to close...

[@JakeBroe]

That's awesome PP! Congrats on home ownership!

[@skidz8426]

here's a question. I'm in the house market, lets be serious here, I'm a disabled vet TBI, PTSD with other problems. I'm kind of a nomad although I've calmed down a little. between 2008-2011 I moved 11 times. I'm making a point I promise. So lets say I get a house. $100k VA puts up 20% = $20k according to zillow calculator payments would be $485. My understanding is that the VA guarantees 20% not that they're putting up 20%. so if I default on the loan the VA will pay 20K. here's my question if I pay 20% towards the house is the VA done with that loan. SO lets say I pay $900/mo towards the house that's ~$5000/yr towards principle in 4 years can I get another VA loan for anther house. I do know you can get multiple VA loans I just want to know if you would have to like refinance out of the loan or what happens? thanks for you help

[@ParkerBudgets]

Hi Jake!! I hope you're doing well and all is well. Loved the video, the gems you dropped were very helpful. I don't plan on buying a home anytime soon, but it is just nice to know so thank you very much. I was wondering if this information applies to homes being built, I would hopefully like to have one built new rather than buy one. I feel like what better way to get what you want in a home than to get it built how you like. Also, I'm still a go for leaving in December!! My friends think I'm too excited, but I'm not excited enough!!

[@JakeBroe]

Hey Eliza! As I understand the process, you can partner with a mortgage lender and a home builder to build your own home. I have no experience with this, but from what I have learned there are other people who have done this, so you'll have to search on google for more information with first hand experience doing this. The VA might also be able to send you info if you contact them. Good luck!

[@DangerDookie]

Hi Jake, would you do a series on using the VA loan to use it for rental property strategies? I'm looking to use the VA loan again to purchase another place. Thanks for the content!

[@JakeBroe]

Hey James! I can possibly look in to that video topic. Thanks for the suggestion! Cheers!

[@whydnot]

Bro, we were at Minot together.

[@jeremyweaver9598]

If you don't have a good credit score, can you use the credit score of a co-buyer?

[@comodice905]

bloke did u just nail it

[@cambrialenee7434]

Hi Jake! I just dropped 13N and your videos have helped me so much. Can’t wait to go to Vandenberg and plan on putting FE Warren as my first base choice. I’ve been contributing to my ROTH throughout college and have began to invest in taxable brokerage accounts. Do you have any advice/knowledge on the career starter loan for newly commissioned officers?

[@JakeBroe]

Hey Cambria! Congrats on 13N! Vandenberg is a lot of fun and FE is a good choice. The career starter loan is a great option for borrowing money if you have any debt at a higher interest rate (student loans) that you want to pay off. However, if you just take the loan and then spend it on traveling or stuff you don't really need, then it probably isn't the best idea. Feel free to message me on Instagram if you have any questions about 13N (JakeBroe)

[@hawking5488]

You fucking nailed it, I am no expert so that's I am here watching. But man, easy to digest presentation and no BS..whatsoever. Come to Texas and lets talk about how annoying people are. lol Best of luck and much success. I hope you make it to 20 years in AD and get a good disability rating when it's all said and done.

[@veger5872]

Can you buy-down the rate on a VA Loan and if so how much would you need to pay to buy down the rate 1 percent on a $400K home? Thank You!

[@EvilGenius007]

Most people won't need to pay PMI over the full life of the loan, only until their equity reaches the 20% threshold of a conventional loan.

[@JakeBroe]

That's good to know! Thanks for that info!

[@kitsanadounglomchan1522]

This is correct. At 80% LTV the borrower can request the lender remove PMI, but at 78% LTV the lender is required under the provisions of the Homeowner Protection Act to remove PMI.

[@michaelsunday6189]

True on a conventional loan. However, often people get FHA loans with very low down payments. That mortgage insurance is for LIFE! So just be aware of that.

[@myronww]

You should do a video on the difference between a VA loan and a VA IRRRL

[@Ehank23]

Subscribed. Great video!

[@JakeBroe]

Awesome! Welcome to the channel E. Hank! Great to have you with us!

[@markk7731]

Thanks Jake. I am looking in to this process now. It's a lot!!!!

[@JakeBroe]

You got this Mark! Cheers!

[@somboregnamarcelghislainto7543]

Best video ever !!! Thank you!

[@JakeBroe]

Thanks so much sombo! Cheers!

[@nieco2528]

Absolutely Amazing information!

[@VeteranFriendly]

Pretty good video, Jake, but at 7:36 into the video you state the VA requires Sellers to pay closing costs, but that's not accurate. The Seller is never obligated to pay any closing costs with the VA home loan program - this is one of the most common misconceptions out there and a primary reason Sellers don't want to entertain VA borrowers.

[@Marilynefc]

What are your thoughts on getting a VA loan for a condo vs a house?

[@spencerbishop8724]

Great video as usual. I’m preparing to get out of the military in 3 years myself. As far as the proof of income. Will they require you be at a job for two consecutive years to qualify? I’m sure I’ll get a job when I get out but my fear is not having enough time at that job prior to applying for a VA loan.

[@rkynightmare3951]

Very well put together video! Subscribed for the professionalism and the informational guidelines. I'm currently in the process of trying to buy a home for myself. Thank you for your service and anyone else who reads this! Hope we all get into our dream homes.

[@JakeBroe]

Thanks for your support RKY! Great to have you with the channel!

[@Dave-lc3cd]

LES works in lieu of a letter from your commander.

[@KyotoMelody]

Thank you, Jake!

[@JakeBroe]

You are welcome KM! Cheers!

[@ryannelson9888]

Thanks for this! I'd love to know what you'd recommend as a time line to begin this process. My lease ends on June 30th so it'd be great to not have to go month to month on my lease for very long. I just received the CoE, but haven't started anything else yet.

[@squigl3z78]

So in the listing typically they list what financial offers they can accept . I was wondering if there was some criteria they have to meet to list VA in this financial offer acceptance criteria

[@kyreehines8052]

Thank You!

[@negacades4736]

THANK YOU, JAKE!

[@hueymiller4842]

Jake, what do you think about buying homes with a VA loan as you transfer and then renting them out when you leave?

[@JakeBroe]

Hey Huey! Yep, people can do this, but they eventually need to refinance the loan to a conventional loan before renting them out. VA Loans cannot be used for rental properties, it must be your primary residence. I don't know how strictly this in enforced, but that is the policy as I understand it.

[@hueymiller4842]

@@JakeBroe most of what I've read is that the VA loan stipulates you live in the house as a primary residence for at least 12 months before moving out and renting.

[@blue98jettavr6t]

Great video. Thank you

[@JakeBroe]

You are welcome SFP! Cheers!