As Extremist Pullup said, I am a mortgage lender at SpiritBank. Have been involved in mortgage lending since 1978. I assue you that VA loans are indeed being made although credit standards are more stringent now than they were prior to the mortgage bubble bursting. I suspect that mis-information may have been provided as referenced above in this post by turkeyrun. His relatives need to try another VA lender to see if they receive a different answer.
VA has a 2.15% funding fee for first time homebuyers, a 3.3% funding fee for subsequent use (both financed into the loan) and any veteran receiving any amount of VA disability pay has the funding fee waived entirely.
There is no down payment required and no monthly PMI if the loan-to-value exceeds 80%.
As also referenced above both the Oklahoma Housing Finance Agency and the Oklahoma County Home Finance Authority offer down payment assistance for first time homebuyers.
Lastly, VA lending is not difficult for sellers and has not been so in a long time.
VA has a 2.15% funding fee for first time homebuyers, a 3.3% funding fee for subsequent use (both financed into the loan) and any veteran receiving any amount of VA disability pay has the funding fee waived entirely.
There is no down payment required and no monthly PMI if the loan-to-value exceeds 80%.
As also referenced above both the Oklahoma Housing Finance Agency and the Oklahoma County Home Finance Authority offer down payment assistance for first time homebuyers.
Lastly, VA lending is not difficult for sellers and has not been so in a long time.
