My wife and I are looking to take over a VA loan that is on the market for 230k with 211k still owed. I have already been approved for up to 300k and I also understand that I will need to bring 19k to the table to cover the gap, but I don't have 19k on hand.
What would be the best way to go about this? My realtor has warned that taking out a personnal loan could affect us and make it harder to buy any home in the future.
Just some more information for context. My wife and I are both mil and our bah together is roughly 3k and we only have about 10k debt between the both of us (car, student loans). Any advice and help is appreciated!
VA assumable question as first time buyer.
byu/Wooden_Eye_9728 inMilitaryFinance
Posted by Wooden_Eye_9728
1 Comment
How much cash do you have on hand? You should have well north of 19k if you’re buying any house, unless you have done the math and are saying you don’t have an *extra* 19k.
What’s the rate on the loan? It might not even be worth it to assume the loan.