Level 15

Home loans

VA loan is the easiest loan you can have.

While a VA loan is without question the simplest and easiest way to go, it's also the most costly way to borrow money in the long run. Most require no down payment. But that Private Mortgage Insurance will eat up on average, 3 full mortgage payments a year. I'd rather save up, put the 20% down and not have to deal with those atrociously high PMI fees. In my opinion, what banks charge for the PMI insurance should be considered and treated as first degree statutory financial rape. One can go out and buy a 10-year term life insurance policy for 80% cheaper (or more!) than the PMI insurance, and just make the lender to primary beneficiary of any payout, should the borrower die. But lender's won't let you do that since that means they get less money from you.