Posted by Rob in Hawaii on July 29, 2002 at 01:32:26:
My first home was purchased with my VA entitlement and at the time, worked well for me, HOWEVER:
I have since realized that I paid 2% points for the VA to to back a loan that I had perfectly good credit to purchase without them. So my 168,000 home cost me $171,000. Since the VA will “roll” this fee into your loan it “looks” transparent but it still may have been a cost you didn’t need to pay. Take the time to talk to a good mortgage broker (i.e. one recommended by several of their clients) and see ALL of your options.