Life can be lonely.
Life can be frustrating.
Life can be full of challenges.
For the men and women who serve this country by volunteering for military service, the loneliness, frustration, and challenges of live away from friends and family can be especially difficult. Far from home, in dangerous situations the citizens who serve in the military can lead an enlisted live that is also uncertain, and often times, uncomfortable. When these military members return from service, however, the Veterans loan program serves to ease some of these struggles. A returning service person who finds a home that he or she can qualify for because of the affordable veterans loan rates also finds a new sense of hope and a way to transition back into civilian life.
Veterans Loan Requirements Are Outlined on Government Websites
- The VA loan mortgage rates are currently as much as 50 basis points lower than those available for conventional mortgage loans.
- Home loans totaling 707,107 were guaranteed by the VA nationwide in the year 2016.
- Approximately 22 million veterans have achieved homeownership through the VA Home Loan program.
- Nearly 135,000 home loans went to veterans who were first time homebuyers in the year 2015.
- Knowing the value of home ownership already, nearly 184,000 home loans went to veterans who were previous homebuyers in the year 2015.
- Years away from family and friends while they are in service are years that can never be returned. Taking advantage of a program like the VA Loan program, however, is the governments attempt to help repay those who have served for the time that they have given to this country.
- One must have served 181 days during peacetime, 90 days during war time, or six years in the National Guard or Reserves to qualify for a VA Loan. In addition, the spouse of a service member who was killed in the line of duty may also qualify.
- Until you check into it, you may not understand all of the advantages to get a VA home loan. Even if it takes a little longer to a find a home that meets all of the Veterans Loan requirements, the effort is worth it because you can get 100% financing and do not need to provide a down payment.