For a first time homebuyer with a VA loan, what steps to take...
By fordwman
@fordwman (49)
Germany
January 10, 2007 9:12am CST
....to make buying a home as smooth a process as possible? We live in Germany and we want to buy a house when we move back. We are thinking of living in Texas. I don't know much about buying a home. Is it better to put money down? What are the proper steps?
1 response
@kesfylstra (1868)
• United States
10 Jan 07
For a first-time homebuyer, you may qualify for a no-money-down mortgage, which is what we did because we didn't have the money for a down payment. If you have the money, though, putting some down will only help you monetarily in the long run. One note about VA loans, they will only give the amount that their appraiser says the house is worth, so if you find a house and have to bid up, it is possible you may have to pay cash for the difference of what the VA loan will give you. Just watch out for that. Happy house hunting!
