Why Veterans Are Dumb When They Use The VA Home Loan - According To Dave Ramsey

[@TheCivDiv]

Apply Today - bit.ly/ApplyToday_VA Schedule a Call - calendly.com/vahousingeducation-team/one-on-one-mortgage-consultation VA Housing Education - www.youtube.com/@vahousingeducation - Clay

[@MrMotivation247]

Vets you can use your VA to buy a Duplex, Triplex, or Fourplex to live in one and rent out the others. There are also other was to to Max out your Benefit, it’s Worth Thousands Dave Ramsey is well liked but he ain’t giving you or your Family a Down Payment. You earned this benefit use it Semper Fi

[@alexdinero8284]

Vets can vote for congressman that fund Veterans benefits like "home" with tax revenue. You know like they do arms to Ukraine.

[@kevinmccallister1343]

That’s incorrect. The loan must be used for a single family home. It won’t cover a duplex or any property with multiple dwellings.

[@proverbs3133]

​@@kevinmccallister1343You're misinformed. A Google search is only a click away.

[@alexdinero8284]

@@kevinmccallister1343 lol Russian bots hit the civdiv with disinfo?!

[@TheJourneyofAll]

.

[@KyleNorris-s8y]

I got mine 2.75% for 130k 0 down 0 fees

[@lj6376]

$130k? Gotta be living off the grid. Enjoy

[@sumyongboytoy]

@@lj6376lol 60k in 2016. Now home is over 200k lol. Thx Brandon

[@itgamer4143]

You had fees. They just weren't called fees. 😊

[@KyleNorris-s8y]

@itgamer4143 nope they were covered by the seller

[@MrKeepitPopn]

This doesn't make sense. Why would they be broke if they get a VA loan. No down-payment means more money in your pocket. Get a house that you can afford. Don't max out on your loan..Duh

[@privateprivate4315]

Agreed

[@DA-br9xd]

Exactly right. People should be running the numbers and only buy what their budget can afford and not just take the maximum amount the bank will loan you.

[@E_Gfree]

The problem is people aren’t getting houses they can afford. They are getting what they can be approved for even if it’s 50% of their income

[@oscarg5116]

I agree and no mortgage insurance is nice

[@joshcal7370]

It's only more money in your pockets if you have money in your pockets in the first place, and that's the point he's trying to make. That it allows people who aren't financially secure or literate enough to take on a loan that they can't handle.

[@puravida5683]

I'm a 100% disabled veteran. I bought a beachfront home in Central America at a discount 15 years ago. I bought my home under a Buyer/Seller Agreement, with a low 2% interest payment to the seller. I paid off my home in 3 years.

[@erimarar690]

've had 3 different VA home loans with $0 down. I applaud your discipline, however, I disagree with your statement. You may live in a high cost area, which would certainly skew the picture a bunch! Being dedicated to keeping a roof over your family's head while struggling is being done by many, myself included. As a former military person i take all of life's events on as a personal mission; I will not fail my mission! I've done it, and I'm about to pay off my 3rd home early. Please share your thoughts, but don't lump me into your thought processes. I've done it and don't let ANYBODY tell you that you can't. YOU CAN!

[@Wade-ub4cj]

One great benefit of a VA loan is that its ASSUMABLE buy the new buyer…. What that means..you can get more than the selling price of your house. You sell your house for $200,000. If the buyer assumes your VA loan at 2.5% they pay the interest rate difference… so they pay $210,000 for the house and assumable loan. And AWESOME benefit for the vets. We did the Ramsey plan, which works, but told my wife id divorce her if she Listened to Ramsey on Real Estate and not let me buy a shop for $100,000. I just sold that same shop, that made money from Day 1…. For $700,000. So pick and choose your advice wisely.

[@seanbrown9111]

I don't agree that a person is broke because he doesn't put money down, i used my Va 3 different times and paid all my properties off bought 2 homes while i was on Active duty and 1 since i retired in 2006 😮😮.

[@aboveitall8483]

Agreed, it all comes down to steady employment. If a person can’t make the payment it doesn’t matter whether they have zero or 25% down, the bank is gonna take your home. The best situation would be to save that 25% as an emergency fund. Then, if you lose your ability to pay the mortgage payment, you can use it until you find better employment. Well, that’s my two cents and maybe that’s all it’s worth.

[@disgruntledconservativevet1798]

I am a retired CPO (25 years) and I have a VA loan through Navy Federal Credit Union. I purchased my home in 2018. I paid $250,000 and it is worth $475,000 now. I too have business degree, and I found that it’s cheaper to purchase than to rent. That Dave Ramsey guy is an arrogant asshole. I don’t like him. Everyone’s circumstances are different. Making a blanket statement for everyone is just stupid. Dave Ramsey never served in the Military, so I take his advice on something he has no experience with, with a grain of salt. I am also rated at 80% through the VA, and I am a retired California Correctional Officer.

[@AndrewKeck-q9u]

Totally Agree! Never liked him!

[@RodneyDempsey-o8w]

​@@AndrewKeck-q9uI am also retired navy 20 years. I think va loans is great thing for vets. I can't understand why anyone listens to dave, I think he is very arrogant and so way out of touch with the average person.

[@pikkons]

What I would disagree with is in my area paying rent for a 2 bedroom 2 bath apartment cost more then the mortgage payment on a 4 bedroom home with zero down

[@leninlopez6836]

Well if you are disable you dont pay the va funds plus you dont pay the PMI SOO YOU ARE SAVING LIKE 300 A MONTH

[@michaeldickerson873]

Dave Ramsey’s recommendation of 20% down is sound advice. Maybe getting 2 jobs, irradiate ALL debt, save for an I emergency fund for 3-6 months of expenses,the buys home. Rent until then.

[@AFvet612]

I got a refund of my VA loan fee once my VA claim was approved and backdated before I closed the loan.

[@austinrothjr]

Same. Applied and then retired. Sent the letter to my lender. Got the refund without any other effort within a month or so.

[@leninlopez6836]

Same here

[@BerzerkerBrotherhood-oo2kb]

I just found that out today.

[@CHRISTianaKlepach]

Thanks I’m buying a home in a few months and was wondering if that would be possible just in case I don’t get my rating by then

[@ethenjordan2010]

Lower rates, no PMI. Why wouldn't you use it? No money down is better imo, its also a CHOICE you CAN put money down. Invest that money or keep cash on hand. Id rather do that all day over throwing down 20 percent just to save a little monthly payment. Ramsey sounds like a fool in this one. Literally using the VA home loan as we speak i am disabled so i dont have the fees. Its pretty smooth.

[@Mr.MikeGLynx]

VA home loan is pretty much my only hope at 40 to finally get a house... I have aid and attendance and still live with my mother. The way you said that... i'm sorry i'm SMC-L and can't do things on my own and having to be in the "Basement"

[@Mar-sz2ug]

I have used my VA Backed mortgage loan, 3 times. Twice for purchase,another refi. Nothing down,better mortgage amounts, able get better home than conventional. The interest rate is actually better. My last home was 2.0125%.Regular mortgage was going to be 4% plus.

[@alexdinero8284]

How old are you 300? Who gets your interest payments? Hope they are complying with Patriot Act (disclosing the concentration of funds to avoid aiding terrorists Putin and human slavers.)

[@MS-ts4db]

Dave RAMSEY said don't buy Gold and Silver. They are now up 100%..

[@mehrllin2891]

He says to get out of debt and stay out of debt, not an investment councilor.

[@joeacfalle2380]

This segment describes a service member that hasn’t detailed his budget leaving the military. A VA “backed” loan, one would expect to save for closing costs and fees for those without a disability rating. Remember, the loan is from a mortgage company and the VA is a benefit for backing the loan which has incentives like no down payment, no PMI. So an individual would see what the income to debt to determine one’s buying power “qualify amount of loan”. For me, what happened to counseling junior service members “budgeting”; who is deciding to transition out in preparation for ones success after leaving the service. GI bill - 9/11 and the VA Vocational Rehabilitation Program; all available for service members who meets the criteria.

[@BlkSuperman]

I didn't find out I had benefits 2020 when a coworker of mine asked me what I was rated at and I said rated at what and I had been out of the Marine Corps since 2001

[@juanpasion9619]

I have used my earned VA loan entitlement multiple times. It’s the best entitlement for any veteran. With all due respect, Dave Ramsey, is wrong! Find a loan broker, who has experience working with VA loans. They will review the nuances of your situation and provide a road path to homeownership. You fought for your country, you should be first in line to own a piece of it! Thank you for your service

[@Forsecondbreakfast]

Before the army I worked full time as a full time student and I graduated with my associates, with a 2.3 GPA. I'll never recommend anyone to do that, just because it's possible doesn't mean it's a good idea.

[@TheCivDiv]

Yeah I feel that. My full-time undergrad days really, really sucked. What sucks is I am doing that same thing for my Masters lol! - Clay

[@MikeFife-gx5vr]

You can get a VA Loan and yes you could put ZERO down, but there is a funding fee added to the price of the house, it also depends if this is your first VA Loan, the funding fee goes up the more times you use a VA Loan

[@hughjay4846]

I wish they had a max interest rate of like 5% for va loans

[@arlyn007]

@ThecivDiv can you talk more about the info on 15:35 about the MGIB? Where do I get more info, what was the case ruling you cited?

[@TheCivDiv]

Here: kzbin.info/www/bejne/eHLKqoKNp5KIeLssi=JReuLOTk2kDlcVUn - Clay

[@robertkorientz]

The VA Home Loan was a huge blessing. I did not have the money for a down payment, but I did have enough to cover closing cost and able to keep up with unexpected.

[@Chef-Chad]

I purchased my first house at age 39 in 2004. It is a 4 bedroom 2 1/2 bath home. I paid $79 thousand in 2004, now the house is worth $258,000. I use a FHA loan and consider it a good deal, I am still living in it and it is almost paid off.

[@DA-br9xd]

Good info being put out here. These are things we need to talk about. Glad to see the discussion in the comments.....and while Dave's big thing is staying out of debt, which is solid advice, I concur with your assessment at 13:10

[@erickelly3447]

I'm totally lost in his logic. I'm not sure what fees he's referring to. With my last VA mortgage I closed on a $460k house that I have a 2.5% interest rate on. It was in 2021. I purposely chose to put 0% down and I paid a little more than $6k down which covered my first full month and 14 days of payment, title insurance, city/county taxes for the 44 days, and homeowners insurance for the first 44 days. Half of that was my mortgage payment that you can't get around. My mortgage company paid for my appraisal, loan origination fees and a few other things that I can't recall off hand. One disclaimer is that I've always had a rating of at least 30% through the VA which does open up a few additional benefits. I would recommend a VA loan regardless of that So why is my preference to not do a down payment or use another type loan? Unlike what Dave said, my best rates have always came from using a VA loan. I used a mortgage broker who specialized VA mortgages. It's a waste of time to try and get a VA mortgage through a bank or any other company who is going to try and sell you on using their a loan from their product line. Getting a VA loan instead of FHA or other options he's describing will keep you from having to pay PMI which is the biggest scam in the world in my opinion mortgage insurance for a mortgage?? Instead of throwing away money that doesn't go towards the principal on my loan, I used that money to invest in my retirement as well as investments that provided security from emergencies. Any money that you would have considered putting down is better off being used to create Financial Security for you in the future. I'm 51 years old and I'm currently living in the third house that I've owned. The first one was a starter home, the second one was when my family started to grow, and the last one that I'm currently in is a downsize since all my children are now grown. One thing I realized early on was that with job and life changes that almost everyone faces, I highly doubted I would live in the same place for 30 years. That being the case, why lock my money away in an asset that I can't get any benefit from unless I sell it? After investing the money I would have used to pay PMI instead on my Roth and more accessible funds, I was in a position that I could pay off my current house. I may do that in a few years if I decide this is going to be my final home. I apologize for rambling but my ultimate message is that I'd much rather be able to access my investment in a return that's not always fully guaranteed. Although most houses increase in value, all it takes is a city center changing location or a downturn in the economy of a local area for your 30 year investment to turn into a financial headache. Be cautious of Realtors who try to talk you out of using your VA mortgage benefit. It is unusual for any successful realtor to not have a connection to a mortgage company or loan officer that they get incentivized for sending customers to them. And although they may say that most sellers prefer not to sell to buyers using VA loans, I found that to be far from the case. Any resistance to one has usually been created by someone who it benefits more from you not using or accepting one. An added benefit of a VA loan is the VA isn't going to approve anything that's going to put you financially at risk. They're never going to approve a home with any major issues that could affect you down the road. And to be perfectly honest with you, I wouldn't want to buy a house from someone who would be resistant to someone with a VA loan. I mean if your house is all you're saying it is, it shouldn't matter what type of loan you use. The money's green regardless. The last thing I'm going to say is it wasn't very long ago that Dave Ramsey was dealing with lawsuits for advertising and recommending his audience reach out to a company that could get them out of bad time shares. Unfortunately it turned out it was a fraudulent company that he didn't have researched to confirm their validity. This ultimately ended up being a money pit for his listeners who chose to use the service. Dave has some great philosophies for Building Wealth but I can't agree with him at all on this.

[@Kagama121]

I cant believe he told the vet to rent and get a roommate. He could get a roommate for his home. Also, if its near a college, that's like printing money for renting.

[@itgamer4143]

I have two VA loans on two houses that are rented. I should be done paying off one of the houses within 2 years. Then i can start working on the other. Theyve made me a decent amount of money. 👀

[@mybugguypestsolutionshoels2789]

I agree with the life situations especially when you have to make money to pay your bills. I’ve had to cancel my VA appointments because of that reason. It’s a sad reality today, and it’s becoming more common.

[@MichaelChabut]

Absolute horsesh-t. My VA loan was ZERO out of pocket, no PMI and a 2.5% rate. Rents are damn near double my mortgage payment, so where would you save money? The difference between the two goes in the bank.

[@thekromealexander5402]

I say buy the darn home if the payment is the same price as rent. Just buy an affordable home within your budget. Have an emergency fund etc.

[@margaretsmith6097]

Dave Ramsey is not educated on the VA home loan but is entitled to his stupid opinion. The no down payment is a benefit for serving.

[@bryankoopman7230]

Thank you for covering this topic.

[@jjm069]

I am a Veteran and I been in the mortgage industry for 30 years and this guy is absolutely wrong! VA is the best loan in the industry. Higher ratios and the same rates as FHA with no monthly MI.

[@TheCivDiv]

Thank YOU for being a member - Clay

[@harryharry3193]

i didnt know I could file for disability. sooo many of us dont know. then....you got to file and the navy cant find your service treatment records.......

[@ronthemasterbarber3185]

VA Loan is like a GAP insurance and it helps for sanity

[@robhav11]

With my VA home home I was able to get my current home. Without it I would not have been able to. I really don't care what Ramsey has to say about it lol

[@dr.mathamagic3157]

This is a wrong argument. VA does not allow you to be house-broke with zero down payment. The debt to income ratio is solid and followed with zero down VA loan. Also they will flex the loan if down the road your expenses change to avoid veterans become homeless.

[@joyceevans7734]

Officers have a ESA date which is analogous to enlisted ETS.

[@jimi-y3h]

Dave is bias, he wants you to rent from him. He needs his rental business to thrive.

[@jmaction]

1991. Assume a loan at 10%. 80% to 90% of my paycheck. Crazy but it worked.

[@AndrewGreene-kn8qu]

Can I get a home loan at 72, I never used this VA loan.

[@rhartley2456]

Yes you can.

[@whiskey_tango_foxtrot__]

So...basically...Dave was pretty much correct

[@nickPulliam-i2j]

Not really. He made no mention regarding funding fee waivers for disabled vets, nor did he note that the 0% down does not automatically equate to not having more money set aside for other things. Renting is just paying off someone else's mortgage. I bought a house in 2017 with a VA loan and it appreciated over 50% in 7 years. I made a bundle by not renting.

[@Idlax1004]

Young bloods don’t listen to this. The end game, don’t buy beyond your means. The VA loan has no P and I great interest rates and instead of putting 20 percent down, invest that money.

[@margaretsmith6097]

Taking online classes allows you to go to school full-time and work full-time.

[@Wade-ub4cj]

He forgot to mention VA loans DO NOT PAY the Mortgage insurance …ever! A few thousand extra up front to NOT PAY $250 per month for 20 years. Besides, disabled vets don’t pay the funding VA fee. I will never agree with Dave on VA loans.

[@bobt8785]

You can also use that 20% to build a business. Or invest. Or simply be able to afford a house which is a payment by payment investment instead of wasteful renting. Sounds like Dave Ramsey jealous about this one.

[@zeroturn7091]

You know who must watch your videos. Ironic that a freeze has been placed on federal loans and grants.

[@SnipesRuntheNavy]

Ramsey doesn’t know. Just talking

[@thomasburnspa]

I like Dave a lot. He has a lot of great advice but this and the not having a credit score I totally disagree with.

[@jeffgracianette9785]

LMFAO!!!! This is the Way!!!!!

[@AlexSprok]

50k ?!!! I wish I got 50k after getting out

[@Wade-ub4cj]

Not to make Dave look like a total IGNORAMASS… VA loans which are taken out at a high interest rate say 8%.. it is VERY,VERY,VERY easy to lower your interest rate (thus payment)..by doing a streamline when rates go down. If Rates go down to 3%, just call any mortgage broker and ask for an interest rate reduction. The cost is minimal, usually the funding fee…and almost zero (free) for disabled vets. AND if you are having problems paying a VA loan GET THIS…there is a clause (lost jobs etc..) that you can pay INTEREST ONLY on the loan..and still keep your house. how figging awesome is that…. Really Dave?

[@michaeldickerson873]

Every time I bought with no one y down, it was definitely not a blessing…..

[@sumyongboytoy]

Got mine for 60k in 2016. 2.1% now it’s worth over 200k Blahaha

[@alexdinero8284]

Interview some veterans that have been foreclosed on.

[@joyceevans7734]

You still have to make monthly payments.

[@alexdinero8284]

@@joyceevans7734 What you think lobbying Congress is going to be paid by Wall Street lol. Veteran give free security (mortgage or deed of trust) (the right to contract shall not be abridged hmmm) and Wall street investment bankers put them together with others in fund it is known as REIT. Your paying into the funds profits that will pay other "loans." If there is no loan why is there interest paid. hmmm "Remember your civics class "he creates offices to eat out the substance of the people."

[@alexdinero8284]

@ really? some vets do well I guess

[@jeblack3407]

Ok now can you afford home insurance and upkeep.

[@Cinderblock1985]

Dave Ramsey dosnt understand how the loans work and the benefits that certain vets get over others. I closed on my house that was build from the ground in 2020. No money down, No PMI, and no Va funding fee since I’m a disabled vet. With a VA loan on a new build the warranty is 10 years instead of 8 so if an AC went out it’s under warranty. So what the fuck is he talking about?

[@tnt0northtravelministriest627]

I'm back at my parents because of this. Not cool, wish I could buy again.

[@yanceymcdonald6017]

I’m just going to say that if I followed his advice I would be 200k poorer. His advice on this call was absolutely terrible. Just buy a newer house and start building a contingency fund a few hundred bucks a month.

[@mehrllin2891]

Dave Ramsey, the guy who has helped thousands get out of debt has a better understanding than the two of you combined. Hes been at this for more than 30 years. I honestly think you made this for youtube clicks. Ontop of that, you didnt give a link to his origional content, making me think you and infotap are commenting on the same old 4 year clip. Do better man.

[@TheCivDiv]

I’m a fan of the baby steps, no issues there. Discounting the VA home loan because of 0 down, I’m not a fan of. I do my best. - Clay

[@mehrllin2891]

@TheCivDiv @TheCivDiv i understand how you feel. I feel that having a downpayment shows you've thought through the process and have skin in the game. It also gives a person more flexibility if taxes go up. When the average house cost in Virginia Beach being 360k+ the down payment on a 30 year is almost repaid in saving on interest.

[@mehrllin2891]

@TheCivDiv side note, I hope you and your family are doing well, and we will continue to pray for yall.

[@randywiley66]

@@TheCivDivyou were spot on no worries other guy just loves Ramsey and thinks your hating on him why I don’t know

[@charlesbaran1364]

Its Not a douchebag to do EVERYTHING you must to probide for your family and future. I worked FullTime+ and took 21 units a semester. I did it for almost 3 yrs.... to provide....I joined after that period. I think what we must all remember is: things work numerous ways...Do what you MUST do to provide a quality life and future for you and your loved ones. Clay shows us all many things that can help...use those that work for your individual life.... May we all have a blessed day.

[@AndrewKeck-q9u]

Never liked Dave Ramsey! He talks down to people! He acts like he’s better because he’s wealthy now!

[@thethirdgeneration1738]

I can’t stand Dave Ramsey. He sometimes wrong about somethings, and his attitude is so hypocritical he comes off like this Christian businessman, when in fact he’s a shameless Calvinist pushing only those philosophies. And to think I graduated from the same university he did.

[@astronomical13]

Only rich people deserve to have a home.

[@animalbeast6564]

rich dez 🥜