I'm doing a homeowners refinance to take advantage of lower interest rates; my interest rate will be about half of what I'm currently paying. This part is good.
With this refi money I'm also going to replace some windows with energy efficient double-pane vinyl windows. This part is good.
One of the reasons I'm replacing windows is that my current wooden windows have some rotting wood around them and rather than replace this wood, I'm just going to replace the windows. This part is both bad and good.
To approve the loan, or refinance, the VA says I have to replace the wood. Then if I want to rip it out and replace it, I guess that's my business. Bad.
Just seems to me that it's dumb to replace and repaint wood that I'm fixing to rip out.
Waste of money.
Idiots.
Check into conventional loans. We wanted to use our Va loan to buy a new modular home. After going thru a lot of the hoops, we were told by a very sweet and helpful loan guy that we could have the VERY SAME 'stuff' done and it would be a lot cheaper in the long run with a conventional, no money down loan. Mainly because we didn't have to have everything inspected by all the attending VA approval offices. Same work, same quality, less hassle and a 20 year mortgage as opposed to a 30 year. Plus a smaller monthly amount.
ReplyDeleteI was so hurt (silly word, I know) to find that once again, our government was charging me (approx $10,000)more for the the same thing offered publicly.