Quote:
Originally Posted by Ghostvette
VA is $0 down. I just had to provide a copy of my DD214 to the finance folks and they did the paperwork. Mine is financed through Planet Home Lending right now, I may go with USAA when I refi, I'd really like to go 15 or 20 years instead of 30. The $$ per month is higher than my current 30 year note. What you have to keep in mind is that they will quote you a P&I (principal & interest) amount and 'kinda forget' about the escrow amount. My escrow (taxes & insurance) runs about $440, so my P&I payment is around $1200. If I can get my P&I down to around $800, then I'll refi, otherwise, I'll stick with what I have. The house across the street from me just sold at $285K, and it needs more work than mine.  |
The monthly note numbers I came out with was from the VA Benefits mortgage calculator. Im not sure if P&I and Escrow are both included. Either way, at the price point Im looking at, it would probably still be cheaper than my current rent.