I would like to give you some warnings, both for VA loan and for regular loan home buying.
When we started looking for a house after getting approved for the VA loan, we knew about having to pay for inspections (termite per requirement and regular because it's a good idea). We got an estimate as to how much that would be and had twice as much money set aside as it would potentially cost to be safe.
Well, then we learned about earnest money yesterday. It's $1,000 plus another $100 for insurance so you get it back in case things with the house you're in contract with doesn't work out. You get it back anyway when you take possession of the house, but it's still something no one told us about because apparently everyone but us knows about it. Now you do, if you didn't!
That was bad enough, but then we also found out that the VA appraisal that we thought was just included in the loan process is done on our dime, too, out of pocket. I thought it wouldn't be too expensive, but I was wrong to the tune of $500.
We'll be able to make things work, but ugh. I wish someone would have told us about this stuff before yesterday.
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