Obviously putting some money down up front is advisable my most because it will lower your monthly payments and can lower the amount of interest you have to pay. But for me if I buy a house in 2 years from now, most likely I will be moving to another base and will have to sell it or rent it out. I'd prefer to rent it out. So if I did save up 10-20k, I'm thinking for around a $400K home, that is barely a drop in the bucket and considering I'd likely be renting it out to be able to afford the monthly mortgage, I may want to put that money in other places. Like for fixing up the home, for furnishing the home, or for investing.
Thanks in advance!
Should I save up a down payment for a VA loan?
byu/anotherthrowaway707 inMilitaryFinance
Posted by anotherthrowaway707
2 Comments
You will need some money saved for at least the funding fee for the VA loan.
I would save a 10% down payment if you can as it decreases your funding fee. (On top of the other reasons a down payment is a good idea) Also I wouldn’t buy a house if you think you are moving in two years.