VA loans

Loan to Veterans:  We have proudly provided our services to arrange loans to and for our Veterans for over 20 years!  The VA administration has interesting guidelines few of our lending partners are conversant in.  We regularly finance for Veteran’s, keeping our knowledge and expertise fresh.

Veteran loans are for both purchase of principle residences and refinance of Both principle residences and rate reduction refinances of VA loans on rental property.  Repeated use of entitlement is allowed.

Lending limits driven by county loan limits, funding fees determined by your type of service, NO money down available.  We can combine with closing cost assistance programs, as well as, the Mortgage Credit Certificate program.  Credit score minimums are 640.  There are always guidelines and limits.  My goal is to ascertain what you can accomplish today.  If the answer needs to change, to provide you with the numbers, goals and tasks so you can change your answer.

Next is a wonderful statement of honor and respect written for me by a friend, Kevin Pereia.  Take a moment, read, and give thanks to the next Veteran or Service member you see.

Veterans in the Housing Market

Today’s housing prices have made homeownership more attractive than ever, but the credit crunch has made it difficult, if not impossible, for many people to secure a mortgage. Military borrowers, however, are perfectly positioned to benefit from today’s market, thanks to the VA Mortgage program.

Borrowers and lenders alike appreciate the safety and security of a VA loan; however, the buying power provided to military members by the program is unmatched. Conventional loans require, at a minimum, five percent down, and demand private mortgage insurance for borrowers who put less than 20 percent down.  Veterans and active service members eligible for the VA mortgage program don’t need a down payment or mortgage insurance. They benefit from lower interest rates and limited closing costs and don’t need perfect credit to qualify.

The VA loan program does consider a veteran’s employment history, however, and over 1 million veterans are unemployed in the United States. It’s a bleak statistic, but it’s one Congress is addressing through the bi-partisan  VOW to Hire Heroes Act of 2011.

One goal of the VOW Act is to help military skills make the transition to the civilian work environment.  One effort will focus on eliminating the difficulty in getting licenses or credentials for America’s best-trained professionals from the military, such as combat medics, truck drivers, aircraft technicians and more.

The VOW Act will also enable 100,000 unemployed veterans of past eras to receive up to 1-year of Montgomery GI Bill benefits. This opportunity will allow older veterans to acquire the skills to find employment in today’s job market.

The new law also includes tax credits to encourage employers to hire veterans, with larger incentives going to those who hire unemployed veterans with service-related disabilities.

In addition, the VOW Act will strengthen protections for Reserve and National Guard members, many of whom have returned from active duty to discover the jobs they held before deployment have been filled, in spite of the legal requirement that their jobs be guaranteed upon their return.

The VOW to Hire Heroes Act and the VA mortgage program should be some of our nation’s proudest accomplishments, because considering the sacrifices veterans have made for all of us, a home and a job is the least they deserve.

Reprinted by permission from Kevin Pereia

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