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<blockquote data-quote="ez bake" data-source="post: 2122181" data-attributes="member: 229">I&#039;m looking at buying a new house and have considered the possibility of using my VA Home Loan.&nbsp; I&#039;ve not used it before (but I understand it has changed a lot in the last 10-15 years so you can actually use it more than once now or something?).&nbsp; I&#039;m really only considering it for two reasons:1. no PMI2. no Down PaymentI&#039;m specifically looking for these two benefits so that I can move into a house with a specific payment in mind for my budget and so that I can take the money I have saved up for a down payment and pay off my credit card debt.&nbsp; Other than these two advantages, I&#039;m not sure it&#039;s worth it - it appears that I can actually get a better interest rate (only by a few points) by going through conventional or FHA channels.&nbsp; I have great credit - but at the same time, it&#039;s been the sort of expense-minimizing that has helped me maintain my current lifestyle with my family having a lot of freedom and still maintain a good credit rating (so basically, I don&#039;t want to be house-poor).&nbsp; We&#039;re just getting to the point that we want to move closer to Tulsa, and into a newer house, so I&#039;m mulling over all my options.Anyone used their VA Home loan and taken advantage of either of the above two benefits?</blockquote>

[QUOTE="ez bake, post: 2122181, member: 229"] I'm looking at buying a new house and have considered the possibility of using my VA Home Loan. I've not used it before (but I understand it has changed a lot in the last 10-15 years so you can actually use it more than once now or something?). I'm really only considering it for two reasons: 1. no PMI 2. no Down Payment I'm specifically looking for these two benefits so that I can move into a house with a specific payment in mind for my budget and so that I can take the money I have saved up for a down payment and pay off my credit card debt. Other than these two advantages, I'm not sure it's worth it - it appears that I can actually get a better interest rate (only by a few points) by going through conventional or FHA channels. I have great credit - but at the same time, it's been the sort of expense-minimizing that has helped me maintain my current lifestyle with my family having a lot of freedom and still maintain a good credit rating (so basically, I don't want to be house-poor). We're just getting to the point that we want to move closer to Tulsa, and into a newer house, so I'm mulling over all my options. Anyone used their VA Home loan and taken advantage of either of the above two benefits? [/QUOTE]

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