Buying first house, stationed at Altus AFB. HELP!

[oksportsman]

I rarely listen to Dave Ramsey’s radio talk show but had it on the other day. One thing I picked up is he said to run away from VA home loans.
I have no idea why, and he didn’t elaborate.
Any insight from a lenders point of view?

Dennis I did not hear the show but Dave hates 30 year mortgages with a passion and many VA loans are 30 years and involve no down payment. Not great for building equity (ala Dave) but nice for affordability and cash to close. If this is beast 1989's first home loan odds are he won't have it long enough to build a lot of equity anyway.

 

[okierider]

I just didn’t know the way things worked! When I put together my list of desired locations I put the state of Oklahoma first, thinking I would be stationed at Tinker and wouldn’t have to leave home. The rest of my list was like Texas, Colorado, Florida, etc. I was thinking if I didn’t get Tinker then I would be somewhere else decent, low and behold I forgot Altus and Vance AFBs existed. Technically they gave me exactly what I asked for!

Bunch of really good folks in and around Altus so the duty will be fine!! If you like off road trails and rock climbing and such you are gonna have a ball!! Brush up on your snake knowledge!!!!

 

[okierider]

OH if you like rain!!! Buy a big ass sprinkler!!

 

[TerryMiller]

My old boss at the power plant was an analyst with ASA. Army Security Agency.
He pised off the wrong person and spent the rest of his time in the service stationed at Shemya Alaska.
Way out there on the Aleutian chain. Said it was the most miserable he had ever been.

Yeppers...

...Shemya was definitely isolated. (See map) I was also in ASA and ended up in Pakistan back in the '60's. Small Army unit on an Air Force Base just a few miles from Peshawar, Pakistan. (Back then, it was West Pakistan.) Incidentally, Peshawar is roughly 100+ miles from Abbottabad, which is where they found bin Laden.

Now, as to Beast's predicament, if his deal there is temporary, I'll mention what is going on at some military bases. Or at least, it was going on in the Colorado Springs area. Some military are buying RV's to live in. That way, if they get reassigned, all they have to do is move or store the RV rather than have to try to sell a home and buy another in their newly reassigned area.

 

[Woody's Janitor]

Buy a house on the north side of town!

 

[John6185]

When I was in...back in '63, an old Sarge said don't got to Minot or Altus. One is cold and the other is very hot....
However, using a VA loan will save you some points as they say-I think several hundred dollars. By the way, the Exchange is pretty small but you can go to Ft Sill or Lawton and get nearly everything you need.

 

[Preacherman]

This is not home advice but hamburger advice. I lived in altus for 2.5 yrs and the best burger I found is at the Warren Cafe. It is east of Blair on hwy 19 not to far past Navajo school road.

 

[beast1989]

This is not home advice but hamburger advice. I lived in altus for 2.5 yrs and the best burger I found is at the Warren Cafe. It is east of Blair on hwy 19 not to far past Navajo school road.

Never met a burger I didn’t like. I’ll check it out.

 

[beast1989]

Anyone know any first time buyer programs, tax incentives, and things of that nature?

 

[CHenry]

I rarely listen to Dave Ramsey’s radio talk show but had it on the other day. One thing I picked up is he said to run away from VA home loans.
I have no idea why, and he didn’t elaborate.
Any insight from a lenders point of view?

They have the most expensive fee's and hoops to jump through.