Navy FCU

[Fernando]

My comp was not listed in MLS but was sold with Navy FCU as lender with 5% down. Rarely sees this lender around here.
My third party source indicated arms length but I'm not sure if appraiser was right.
I don't know about VA loans but I will indicate this financing in the report and let reader be aware.

 

[Fritz in NY]

So, what's your Post about?

 

[KHS445]

Running up his numbers.

 

[Vermonter]

It's just another credit union catering to active/former Navy. They do all kinds of lending, not just VA.

 

[Fernando]

Normal purchase of 5% down is not normal. Did the price reflected such a low down payment. In current market, all cash deal is not hard to get.

 

[Mike Ault]

Normal purchase of 5% down is not normal. Did the price reflected such a low down payment. In current market, all cash deal is not hard to get.

Sadly, it appears that your dyslexia/schizophrenia is getting worse.

 

[Fernando]

Me crazy? 5% down for VA loan. Not exposed to market. Doesn't sound like arms length transaction. Appraiser Intuition.

 

[Mike Ault]

Me crazy? 5% down for VA loan. Not exposed to market. Doesn't sound like arms length transaction. Appraiser Intuition.

What exactly does this mean? "normal purchase of 5% down is not normal"

 

[Fernando]

What exactly does this mean? "normal purchase of 5% down is not normal"

No one unless special cases get a 95% LTV. No skin in the game and if foreclosed, lender deserved the risk taken.

 

[Mike Ault]

No one unless special cases get a 95% LTV. No skin in the game and if foreclosed, lender deserved the risk taken.

AI Overview

While a precise, real-time count of every lender offering 95% Loan-to-Value (LTV) loans is not available, these loans are common, with nearly all conventional lenders adhering to
Fannie Mae and Freddie Mac guidelines, which allow up to 95% LTV, and some extending to 97%.