Can you connect the VA home loan and state / local first grants access to property?

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Does anyone know if you can get your VA home loan if the mortgage and apply for and use federal and state / local first-time home buyer grant money for a down payment? I know there are many first-home ownership programs out there, but what you can combine the VA home loan?

  1. Reply
    February 9, 2011 at 4:59 pm

    VA loans can be for 100% of purchase price. USDA loans can be for 100% of purchase price, plus closing costs. That is, is property appraises high enough.

    No, you can not use a state/local subsidy for a VA or a USDA loan.

  2. Reply
    Jeromy W
    February 9, 2011 at 5:55 pm

    You may be better off going FHA, you can use the grants and won’t get destroyed by the VA guidelines. I’m hearing a lot of negatives about the VA programs right now, I would look into FHA as well and calculate the grants in and see which one is more beneficial, good luck

  3. Reply
    February 9, 2011 at 6:52 pm

    VA home loans are a unique way of extending support to the US war veterans, who committed their lives in safeguarding the interests of the country. Therefore, understanding these loans is beneficial. VA housing loan program provides financial assistance to veterans so that they can purchase home at a favorable rate of interest and convenient loan terms. Loans provided by the VA are fixedproperty in a safe locality. Next, the veteran has to go to a lender and apply for a home loan. VA guaranteed loans are provided by private lenders that include banks, mortgage companies and savings and loan associations. No prepayment penalties and long amortization terms are another advantage of these loans.

  4. Reply
    Anais Willy
    February 9, 2011 at 7:21 pm

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