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VA home loans

 
Flash Gordo
(@Flash_Gordo)
Advanced Member

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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Topic starter Posted : June 13, 2014 5:44 am
Ericw
(@Ericw)
Advanced Member

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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Posted : June 13, 2014 7:00 pm
LiquidFluoride
(@LiquidFluoride)
Trusted Member

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

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Posted : June 13, 2014 7:47 pm
kimd
 kimd
(@kimd)
Advanced Member

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

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Posted : June 16, 2014 2:19 pm
mtdoramike
(@mtdoramike)
Trusted Member

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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Posted : June 16, 2014 4:25 pm
Ping
 Ping
(@Ping)
Active Member

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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Posted : June 16, 2014 5:03 pm
Flash Gordo
(@Flash_Gordo)
Advanced Member

Thanks for the information everyone!

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Topic starter Posted : June 16, 2014 7:46 pm
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