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Carteret
Nov 10, 2012


blue squares posted:

Holy poo poo. I had my VA exam a month and a half ago (after a year since filing) and today I just received a check for $2,506.52 for backpay for my %20 rating! My shoulders are hosed and hurt every day, this is going to make life so much easier. drat.

This is for the rest of my life?

Yes, but don't expect $2500 bucks. It goes up every year-ish with inflation. 30% is like $400/mo

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Carteret
Nov 10, 2012


Casimir Radon posted:

I think you have to pay it back.

You have to pay it back if you drop, not fail. Speaking from experience, on both accounts :v:

Carteret
Nov 10, 2012


Cole posted:

Does the VA give a poo poo about weed

In what context?

Carteret
Nov 10, 2012


I've never been to the VA and had to take a piss test. Or a mouth swab. Or a hair sample. So as far as me and the VA are concerned, they don't give a gently caress. Weed has nothing to do with my back, knees, or my lack of thyroid.

Carteret
Nov 10, 2012


Nostalgia4Infinity posted:

Does anyone have experience with that VA-backed mortgage? My gut tells me its bad because it's VA but I'm interested in all options.

The VA Home Loan? My Dad used it to buy their house. What do you want to know? I can ask for you.

Carteret
Nov 10, 2012


Nostalgia4Infinity posted:

I guess if it is a viable option as opposed to a traditional mortgage. I hear it'll guarantee downpayments or a portion of it. Is that true? Also how are the rates as opposed traditional mortgages? My partner and I are looking to buy a home in the next 12-24 months so I want to start doing my research now.

It is absolutely a viable option. As a matter of fact, this is probably the only thing that VA hasn't jacked up. You only talk to the VA to get a certificate that proves you have the benefit. You can even use it more than once! You just can't have it going on more than one property, and you have to actively be living in it. PM me down the line and I can get you some in-detail information, but it comes down to this:

VA Home Loans have a higher rate than what a bank would offer, but no down payment. You basically mortgage a portion of your down payment on top of the homes value. The only time you shouldn't use it is if you have the 20% in cash just sitting around.

Carteret
Nov 10, 2012


Obama Africanus posted:

Does the VA home loan help folks with bad credit? Or as I like to call it, standard veteran credit?

You still deal directly with the banks on 99% of everything, so not really. You should be able to get more house than you would otherwise, but if you have veteran'd your credit to the point that banks hang up when you call them, the VA can't help you.

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Carteret
Nov 10, 2012


No wonder I had no idea what 5 points preference was. I qualify for 10. Thanks!

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