As title said, looking for pros and cons of both, utilize the 0 down payment?? Or should I liquidate a decent amount of my networth to put down as much as possible??
VA home load: 0 down payment VS biggest down payment possible
byu/ElementGlich inMilitaryFinance
Posted by ElementGlich
3 Comments
What’s the question? Get a mortgage calculator and fool with the numbers.
Figure put what monthly your fine with and can keep a safety net in the bank.
Totally depends on your personal financial situation. We put 10% down for the lower funding fee, and didn’t come close to depleting our savings. We ran the numbers with all sorts of different % down and that was what made the most sense for us, but could be totally different for you.
There are only two reasons to put down money on a VA loan
– if you’re not 10% service connected disabled then you pay a 1 time funding fee. That amount goes down more you put down. If you have 10% disability then doesn’t matter.
– as with any loan. More you borrow more you pay. Have to make a decision on how much you want to liquidate vs how much you want to save as an emergency fund, or invested in other vehicles