FHA? VA?greenspun.com : LUSENET : Fair Lending : One Thread
What is the difference between FHA Loan, and VA Loan? I qualify for VA Loan, but my Mortgage guy is trying to get me a FHA loan. If FHA is better than VA, even for people who qualify for VA, then what is the point in even having VA????
-- Don Morrison (firstname.lastname@example.org), February 08, 2001
It seems to me that you are in the same position that I am.We serve our country while in the armed forces, and this is what we get.I went through this shit with lenders, and they all said the same thing.They said va is more red tape. BULLSHIT. Did they tell you that thier commision on VA is only 1%. While FHA is 4%? On a 200.000 loan they make $2000 on a va. While on FHA they make$8000. If you were a broker woulnd"you tell homebuyers that fha is your only choice. Lending guidelines are the same for both. Dont let them bullshit you. call va
-- hk (email@example.com), April 25, 2002.