I'm just wondering why someone would choose to go with a conventional loan vs. a VA loan. Aside from the VA loan having a maximum limit....
2006-06-20 09:39:30 · 4 answers · asked by shiva.harris@sbcglobal.net 2 in Business & Finance ➔ Renting & Real Estate
A VA loan has a 2% VA funding fee, and the seller is required to pay a portion of the buyers closing costs. VA loans are great in a buyers market, not so good when it is a sellers market. Most sellers would rather take an offer with a conventional loan.
2006-06-20 13:43:29 · answer #1 · answered by Martin 2 · 0⤊ 0⤋
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RE :Why would a conventional loan be better than a VA Home Loan?
I'm just wondering why someone would choose to go with a conventional loan vs. a VA loan. Aside from the VA loan having a maximum limit....
Follow 3 answers
2016-10-10 18:10:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
About the only thing I can think of is not as much red tape in a conventional loan as in a VA loan. You certainly don't have to sign as many papers at the application.
2006-06-20 10:47:48 · answer #3 · answered by lester 3 · 0⤊ 0⤋
VA is picky about the condition of the property. There are just some properties that can't go through VA without a lot of work.
2006-06-20 16:06:42 · answer #4 · answered by mycornerofbrickheaven 3 · 0⤊ 0⤋