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VA home loans  

 

Flash Gordo
(@Flash_Gordo)
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Joined: 6 years ago
Posts: 29
June 13, 2014 5:44 am  

Anyone have any experience using VA home loans in the USVI? Is there any differences in the USVI vs the mainland?


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Ericw
(@Ericw)
Advanced Member
Joined: 10 years ago
Posts: 277
June 13, 2014 7:00 pm  

No difference except the borrowing cap is higher than most of the mainland
http://benefits.va.gov/HOMELOANS/documents/docs/2014_county_loan_limits.pdf

We have a VA certificate to use still but got a better loan with a conventional mortgage product.
Banco Popular and First bank are the only ones that offer VA. Scotia was working on it, but don't know if they do now or not.


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LiquidFluoride
(@LiquidFluoride)
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Joined: 8 years ago
Posts: 1937
June 13, 2014 7:47 pm  

I closed a VA loan with FlagStar about a year ago.. went pretty smooth.


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kimd
 kimd
(@kimd)
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Joined: 11 years ago
Posts: 121
June 16, 2014 2:19 pm  

We also closed a VA loan with Flagstar about a year ago. Went very well.


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mtdoramike
(@mtdoramike)
Trusted Member
Joined: 8 years ago
Posts: 955
June 16, 2014 4:25 pm  

My sister in law went VA on her home loan and it wasn't really any different than in the states. You will just be required to show a steady reliable source of income, you can afford the payments, have the required down payment and reside here.


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Ping
 Ping
(@Ping)
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Joined: 7 years ago
Posts: 6
June 16, 2014 5:03 pm  

I work for a VA Mortgage company that is backed by the VA, in the states and you just have to make sure that the company you use is able to do VA loans and they are going to do your funding fee correctly. Also your going to have to make sure they are able to do in USVI. Unfortunately my company can't do USVI but the VA can give you a list of VA Backed Lenders that they will recommend that will do VA loans in USVI!


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Flash Gordo
(@Flash_Gordo)
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Joined: 6 years ago
Posts: 29
June 16, 2014 7:46 pm  

Thanks for the information everyone!


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