Real Estate Home Mortgages/Va loan...


Hi, I had a question that i would really appericate some insight on.

Back in the 80's our first VA loan, myself and my husband who is a Vietnam vet was making about 1200 a month, borrowed about 50k through the VA to buy our first house, we put about 15k down, since then, that has been paid off.

We are now looking to move to Nevada, cost of living is cheaper and the property taxes are really low plus no income tax, for retirement. My husband is planning on retiring at 65, which will be august of next year. He will be bringing in about 2k a month, five months after his 65th birthday, i will be 62, and i will collect on his retirement, which will hike our monthly income to about 2600 a month. My question is, we were hoping to move right after his 65th birthday, we live in Maine currently, and the winters are long! But, will what we can borrow be subjective to what we will have each month at that time, and not being taken into account that in the next 5 months we will be pulling in nearly 2600 a month? We are looking for 150-170k

Also, we spoke with someone that told us we can " buy into the VA" to lower the rate? Is this a good idea and is it helpful really with monthly payments?

Thank you so much for your time and help!

What you make at the time will be used. Income verification is heavily scrutinized these days for fear of the govt regulations.
Maybe you can get into a 'lease to own' situation.

'buy into the va' is not a mortgage term. What someone told you sounds like 'buying points'. Buying points is considered prepaying interest to lower your payment over time. It is a good long term proposition, and always a bad idea for a short term loan. Buying points is good for someone who will stay in the loan a long time.
Quite simple: Have your loan officer set your deal up both ways(with and without points).... Compare.

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This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

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Tom Burris


I can answer any question regarding Mortgage loans for Purchase or Refinance. I currently work as a Mortgage Banker in Dallas, TX and have experience as a Mortgage Broker. The favorite part of my job is helping First Time Home Buyers. I also consider myself an expert of Credit and Credit Qualifying for a home loan. Many of my loans are the result of showing clients how to credit qualify for a loan after they were denied in the past. We do FHA, VA & Conventional Financing. I have extensive experience in Investor Loans as well. I will NOT answer questions about 'getting around guidelines', ect. Or if I sense that you are trying to call your 'investment' property a primary residence, I will reject the question. I will ALWAYS err on the side of caution if I sense that the question is fraudulent in nature.


7 years experience as a Mortgage Broker and as a Mortgage Banker

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Mortgage Professionals in Texas are required to take many ethics courses and other industry training to satisfy State mandated continuing education requirements.
Site Owner of which has lots of free mortgage info for the First Time Homebuyer and Veteran Homebuyer as well.

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