verbatim 1 Report post Posted February 16, 2011 I know fha requires 3.5% down but occasionally i hear folks so they have a va loan they can use. Of course i would still try to get a 3.5% down payment but will them having access to a va loan make the process to get them financed easier or quicker in some way? Are there any benefits to one having a va loan over an fha? Just curious Verb Share this post Link to post Share on other sites
colehaynes 0 Report post Posted February 16, 2011 Verb, I have only had one buyer use a VA loan instead of FHA and it was about 5 years ago. The VA loan didn't require a 3.5% down payment, the buyer didn't have to put anything toward the down payment and all of the closing costs could be paid by the seller. The one thing I do remember about the VA deal was there were a lot of additional hurdles and hoops for the buyer and the property to go through before they would sign off on the loan. This could have been just that specific lender or buyer. That's all I can remember from that deal. But, none of that should effect you if you are doing a CA deal. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted February 17, 2011 VA and USDA still allow 100% financing. VA does require certain inspections, and use to be much more flexible on the scores, but are now really in line with FHA. Share this post Link to post Share on other sites
