turtledove13
New member
Enlisted E-7 with enlisted wife and kid stationed in SoCal. We’ve been wanting to buy a house but it is impossible now with the loan rates.
The beauty of the VA loan before was being able to put 0 down and have a monthly mortgage payment on homes in the 400-500k range that are less than your BAH.
Now with rates so high and then add in HOA your looking at a 5-6k mortgage if you do 0 down.
Even if you could afford 20% down your still talking about a mortgage high enough that will not be competitive to rent out once you PCS and have positive cash flow.
Maybe I’m just missing something or maybe it’s only because of SoCal. But how is everyone doing it nowadays ?
The beauty of the VA loan before was being able to put 0 down and have a monthly mortgage payment on homes in the 400-500k range that are less than your BAH.
Now with rates so high and then add in HOA your looking at a 5-6k mortgage if you do 0 down.
Even if you could afford 20% down your still talking about a mortgage high enough that will not be competitive to rent out once you PCS and have positive cash flow.
Maybe I’m just missing something or maybe it’s only because of SoCal. But how is everyone doing it nowadays ?