I have a VERY qualified, pre-approved with underwriting approval, Buyer, who wants to buy a home VA with 0 down in Orange County, CA. Max loan amount is $593,000-ish, including the VA funding fee and closing costs. Which means actual sales price is around $565,000.
My question has to do with the Lenders. Are they open to VA Zero down Buyers? After all, they have to add the exorbitant funding fee of 3.5% to the purchase price AND have to work around the Sellers who can't fix anything.
Any suggestions??? Will VA accept homes in SoCal with $0 down?
I would love input!! Thanks so much...
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Your first question should be how much will lenders loan in your market on a VA loan. Best to just call the buyer's lender ( name on the loan pre-approval) and ask directly. Are they actually fully qualified or just sort of qualified? Ask the tough questions of the lender.
My other suggestion is to contact Karol at Gold Coast Lending in Orange County to get the answers. She is a very knowledgeable mortgage broker and provides excellent help and service to her borrowing clients. Her number is (949) 496-6272
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