VA Loan vs. Conventional Loan

[Donald Bastien]

Hello, 

I am getting out of the military & moving to Miami Florida next summer. Should I use the VA loan with a 30 year fixed rate mortgage & 0% down and house hack or should I remain patient, continue saving and use a Conventional Loan with a 15 year fixed rate mortgage & 20% down and house hack? After using the amortization calculator, option 2 would be cheaper in the long run but I am not sure. I have been getting advice from people that follow Dave Ramsey's path and I've been watching a lot of Dave Ramsey and he recommends the 2nd option. The individuals offering advice are also saying that now is a bad time to purchase a home and to wait it out and save. Any recommendations please?

[Dominick Johnson]

Time is the most valuable component of investing. I would suggest doing the VA loan. If you plan to house hack anyways, who cares if you have 0% down or 20% if someone else is paying the majority of the mortgage. Why lock yourself into a 15 year loan when you could do a 30 year fixed and make double payments to pay it off in 15? Then if you have a tight month, you only have to pay the 30 year mortgage rate.