Home / Our News / Veteran’s Day 2016: Honoring All Who Serve

 

We at the Home and Finance Show want to thank all the men and women who have served our country on this, Veteran’s Day November 11, 2016.  And we want all current and former service members to know that, because of your service, the U.S. government has created some home ownership programs just for you.

Yes, the Veteran Administration can help Service Members, Veterans and their families become homeowners by providing a home loan guarantee benefit and other housing-related programs that can help you obtain, retain or adapt a home for you and your live to occupy.

Here is how it works: VA-guaranteed loans are provided by private lenders, such as banks and mortgage companies, and not by VA directly. Through the VA Home Loan Guaranty Program, VA guarantees a portion of your loan against loss and helps lenders provide you with more favorable financing terms.

VA home loans include many benefits other homeowners cannot including:

  • No down payment requirements
  • No private mortgage insurance premium requirement
  • Reduced closing costs
  • Closing costs may be paid by the seller
  • Closing costs maybe paid by the seller and
  • Assistance making payments if you run into difficulty.

 

Further, a VA loan can be used to:

  • Buy a home or a condominium unit in a VA-approved project
  • Build a home
  • Simultaneously purchase and improve a home

 

You don’t have to be a first-time home buyer to qualify for a VA loan and you can REUSE this benefit.  So if you want to sell your current VA Financed home to by another home, you can use a VA loan again.

Check out this short video https://www.youtube.com/watch?v=DWmAKrkg3yc  or review this  VA brochure.

VAbrocure

 
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Janis Bradley, Broker/Owner, JB Real Estate Consultants

 

Diana Rice-Wilkerson, Loan Originator, Fairway Mortage