How hard is it to get a VA loan?

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I have a credit score of 740 a certificate of eligibility for the VA loan and make $ 30,000 a year. I don’t have a lot for a down payment only about $ 5,000 + plus some to cover the closing costs and fees. Will it be difficult for me to obtain a Loan on a $ 110,000 property?

  1. Reply
    col. Kurtz
    January 5, 2013 at 7:32 am

    brutha, you are gold…VA loans can be had w/no dn payment! keep the cash in your pocket for emergencies. You need to allocate <33% of your gross mo inc towards your mo payment. Ck w/a loan agent that specializes in gubment loans though to be sure!!

  2. Reply
    January 5, 2013 at 8:14 am

    you’re in great shape. you can finance 100% including closing costs. right now, the VA loans are a GREAT benefit to have because nothing down loans are a thing of the past with the recent mortgage banking failures and tighter credit. congratulations dude!!

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