How to use the best and easiest VA mortgage calculator

suethao.com has the best and easiest VA mortgage calculator. See an example of how to price one up today and then fidget with the calculator all you’d like. contact me with any questions

Hello and guys again welcome back to mortgage for beginners with sue tao in this next video i’ll be going over how to use the va calculator on my website we’re going to continue to use the 500 000 purchase price however i’m gonna change this to a zero down payment just because veterans do have the capability to put zero down and it’s a single family home that’s

Owner occupied rates today are around four and a half percent for all of these credit scores and because you’re a veteran you pay no pmi so with that information head on over to my website again suetow.com hover over mortgage calculator and choose purchase dash va once there input the information so let’s say i’m a veteran i want to buy a home or i found a home

That’s 500 dollars you told me the interest rate was four and a half percent and putting zero percent down the annual insurance again i’m going to estimate it’s twelve hundred dollars annually i found a home with no hoa the only credit only debt that i have is a car loan which is 300 a month my monthly gross income that i get for my service is 50 500 500 and

If we stop here our payments 3154 dollars this will include the hundred are principal interest the taxes and insurance and no pmi however you have to figure out if you have a disability or not if you are in uh on va disability you are exempted from the 2.3 funding fee so in an fha loan it’s a 1.75 upfront mortgage insurance premium that gets tacked on to

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Your loan amount or va it’s called a funding fee and if you are not disabled you will have to either pay or finance that funding fee and that will be added to your loan amount with that being said your mortgage will increase to three thousand two hundred and twelve dollars you add that with the three hundred dollar monthly debt that you have and divided by the

Fifty five hundred dollar gross income your debt to income ratio is sixty three point eight six percent now if this loan was a fha or conventional you will not be able to get this loan done because you typically have to stay under 50 debt-to-income ratio however veterans do have leniency and you can go above 50 and i have done loans for over 60 dti it is not

Recommended just because i don’t want you living paycheck to paycheck if you have another stream of income coming from maybe your significant other great but that’s the overall goal i don’t want you um living paycheck to paycheck paying for your mortgage so with with that being said i’ve created three videos a conventional fha mva calculator demonstration if you

Have any questions feel free to contact me if you need a quote utilize this thing and uh again uh make sure to share like subscribe to this video and i’ll see you again on the next one take care bye

Transcribed from video
How to use the best and easiest VA mortgage calculator By Mortgage Hows with Sue Thao

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