@Anonymous wrote:
I am relocating to a different state and just went under contract on the house I am currently living in. My current mortgage is a VA and I was able to take advantage of getting into it with $0 down. When my house closes I will end up paying off the VA loan and having a good amount of equity to put into a down payment on my next home.
Since I will have a 20% down payment to get into a house is there a reason I would still want to go VA? Even with a standard mortgage I will not have PMI. For what it is worth my fico is currently about 700.
Mike
The only way to answer that question in a meaningful way is to have a loan officer provide comparisions using different products ... and let the numbers guide you. You would have a funding fee with a VA mortgage but PMI with an FHA and maybe a higher mortgage rate with a conventional mortgage product. Only after seeing all details for each solution can you truly make an informed decision. By the way, yours is a good "problem" to have.
!