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Originally Posted by getdul981
While we were in the process of selling our house in VA, our realtor explained how the VA loans work and she told us that we were better off going with a conventional instead of the VA. I think you have to purchase mortgage insurance with a VA loan also which would offset the difference in percentage points.
I'm not 100% sure how they work, so I would suggest checking with your lender about how you could go about it.
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A veteran gets a VA loan to avoid private mortgage insurance, PMI. All they pay for is a VA funding fee which is 2.25% of the cost of the house. This is usuallly added to the cost of the house at closing.