VA Home loan, first time home buyer.. Any suggestions?

My hubby and I are looking into buying our first home/investment property. It is a duplex 2/2/1 on both sides. I am still a student so I dont have any income other than fin aid and loans. He makes about 45 K a year. I do graduate in december of this year, so once I do graduate we should be doing well. It is on the market for 140K, hubby was military, so has a certificate for a VA loan. My credit is good, 660 and hubby's not so good at 590. Wondering if anyone could give me any advice. Is this something we should even be looking into right now since I dont have an income yet. I mean we do rent so we would be paying the same with the exception of the income of the rental unit. We have about 5 K saved so that would help if we came into a crunch. We were also hoping to get 100% financing. Any info would be great!!

VA and FHA both have restrictions far and away from traditional lenders. Before you start making plans, you should find out if the property you are interested in even qualifies for VA financing.

I'd wait until you have secured employment and have money saved for a down payment, plus your emergency fund.

va loan is 100% financing but they are strict on debt to income ....and credit scores.

FHA is a little bit more lenient but you will need 2.25% for a down payment. You can always have the seller pay the closing costs.

go to the http://www.gonghaohui.com

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