Home loan advice needed . . .

[Don Vito Corleone]

Okay, I am looking to buy my first house in the next couple of months. I will be buying in the Minneapolis-St Paul area, and looking to buy a single-family house in the $200K-225K neighborhood.

I am eligible for a VA loan, and since I'm a disabled veteran, the VA will pay the funding fee (3% IIRC) for me if I go that way. I currently have about $35K to use as a down payment, and can easily get that up to $40K before buying if I choose to.

Theoretically, a lender should be able to provide a VA loan at the same interest rate as a conventional loan, but I have never actually negotiated one of these.

Anyone have any suggestions as to what's the best way to proceed?

Thanks!

 

[FoBoT]

go with VA, the rates are the same. if you don't have to pay the FF , that is an uber bonus

you can always put some $ down anyway even though it isn't required

go VA loan for sure

i used VA for my first house in 1993 and this house we bought last year