Originally posted by @Micheal Patterson :
No problem, yea not sure why others are saying that. If she has an opportunity to put no money down then more power to her especially if she plans on investing in other properties.
Thank you, she's going over things now with her realtor. As of now her closing date is March 20. You know things can change. Thank you for your time..
She should not need down payment assistance with a zero down VA mortgage.
The closing costs and pre paids can typically be negotiated into the contract to be paid by the seller. Sometimes the purchase price is increased to cover some or all of it.
I have had VA buyers get into a home for zero $ out of pocket. They do still need to come up with the earnest money deposit upon offer acceptance, which in my part of the state of WA is typically 1-3% of the purchase price. If they are paying no down payment or closing costs, the earnest money funds are returned to the buyer at closing.
As others have said, her lender can advise on this. Thanks to her for her service and happy house hunting!
I used my VA loan twice -- no money down. A VA loan should be able to roll all of the closing costs into the loan. 4% seller's concession can be worked in so the whole deal is zero dollars out of pocket.