This will be my first home purchase and am looking to use a VA loan. I've already gotten "pre-approval" now I just need to find the house. I've heard, but don't really have anything concrete, that before you can use a VA loan the house has to be inspected by a special VA inspector and there are several restrictions to what you can get.

Can anyone shed any light on this for me? Can it be in a flood zone?

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Posted by JoseVargasTX

Heath, TX

Member since Sep 2011

718 posts

Posted on 9/25/13 at 8:48 am to chickman1313

I've bought my last two with VA--easy, easy, easy. Get a good mortgage guy and they'll take care of everything you mention.

Use the VA every time in my opinion--NO money down, NO PMI. I'm disabled, so I have basically no fees to pay for my loan.

My mortgage guy always arranged for the VA "appraisal" it was really not an inspector, but an appraiser.

Good luck!

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Posted by 90proofprofessional

Member since Mar 2004

24445 posts

Posted on 9/25/13 at 9:29 am to JoseVargasTX

Only did it once, but my experience was basically the same as JVTX's. The house was even a foreclosure with some issues (garage roof needed to be replaced.)

Still, no real holdups at all.

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Posted by lsu tigerdog

Baton Rouge

Member since Nov 2007

246 posts

Posted on 9/25/13 at 12:17 pm to chickman1313

regarding the appraisal, your loan officer will order it thru the VA website. Just make sure with your loan officer that he or she ran the loan thru the automated underwriting system, i'm a broker here in BR and just this week, I have two buyers with 710 scores and couldn't get them approved, the lender wont even do a manual underwriting, VA has gotten a lot stricter on their underwriting lately. if your credit is clean and never missed any payments you wont have problems,
if you have questions, shoot me your email adrs and I can answer any questions you have
good luck housing hunting

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Posted by LSUnGA

Buford, GA

Member since Jun 2009

1694 posts

Posted on 9/25/13 at 2:17 pm to lsu tigerdog

It was over 20 yrs ago when I did a VA loan but like everyone else said it was a very easy process.

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Posted by DontTazeMeBro

Gatlinburg, TN

Member since Oct 2011

152 posts

Posted on 9/25/13 at 2:25 pm to LSUnGA

I'm an agent in Tennessee and have done many VA purchases for my clients. Not as bad as a lot of people make it out to be and is a great benefit for Veterans.

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Posted by slutiger5

Parroquias de Florida

Member since May 2007

10618 posts

Posted on 9/25/13 at 2:58 pm to chickman1313

Bought my home a year ago via VA. I guess it was an easy process and they call and find you an inspector, no special one just an inspector.

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Posted by chickman1313

Mandeville

Member since Dec 2007

4922 posts

Posted on 9/25/13 at 3:52 pm to lsu tigerdog

thank yall for the insight.

my loan guy seems to be all over it, used the VA underwriting system, seems like we are good to go.

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Posted by hawkeye007

Member since Feb 2010

5842 posts

Posted on 9/26/13 at 10:14 am to chickman1313

VA loans are one of the easiest loans to do, lots of paperwork but a very smooth process. there is no VA inspector common myth.

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Posted by hawkeye007

Member since Feb 2010

5842 posts

Posted on 9/26/13 at 10:16 am to lsu tigerdog

did the 710 borrowers try going conventional with a small down payment? DU his cracking down on sub 720 borrowers at this time. i had a 706 customer i couldnt get approved not to long ago. lenght of credit history is the problem with alot of the customers i see.

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