Military men and women have a tremendous advantage over the average home buyer
by: terry.valoanprogram
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Word Count: 291
The Veterans
Administration (“VA”) introduced the VA home loan in 1944 to specifically
benefit veterans by allowing them to purchase a home with little or no money
out-of-pocket. The VA’s recent decision
to raise the loan limits for this program has opened the housing market to
veterans on an even greater scale.
Currently, the VA loan
limit is 7,000 in the continental
Recently, the investors
who service mortgage notes have been negatively impacted on 100% financed
loans. Default rates have reached an
all-time high, so investors are cutting their losses by eliminating risky
loans. This leaves many credit-challenged borrowers searching for other
mortgage options. The good news for
veterans is that VA loans are still going strong!
“VA government-backed” mortgages are extremely
attractive to investors. Since the
government insures 25% of the value of the veteran’s home, it reduces their
risk and enables mortgage companies to continue to approve veterans for 100%
financed loans. This enables veterans
who have experienced past credit problems the opportunity to qualify for a VA
home loan. To apply for VA Loan, veteran simply fill out an
application with a VA Approved Lender
The VA home loan is
traditionally underwritten, which means the underwriter is able to make a
decision based on a variety of factors other than credit scores. These government protected loans will
continue to help many veterans achieve the American dream and find a place to
call home!
About the Author
| Jeff
Guthrie is a well known author and has been writing content for <a
href=http://www.valoanprogram.com/>VA Loan</a> Offering <a
href=http://www.valoanprogram.com/>VA Home Loan</a> programs for a
Veterans. His content is worth reading as it gives you an insight about
different aspects of VA Loan & availing this service. For more details on
VA Loan visit <a
href=http://www.valoanprogram.com/>www.valoanprogram.com</a> |
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