A VA Home Loan Can Help You Get Affordable Housing

by | Housing Information, Rent to Own, Veterans

 Ever since the housing market collapse, lenders have tightened the requirements to qualify for loans. If you don’t have the required credit score or enough for a 20 percent down payment, it will be difficult to secure qualification for a conventional loan. However, if you meet minimum active service requirements, you can save money by using veteran benefits to get a low VA home loan.

Compare Rates and Save! 100%Free with No Credit Check!!

For more information on the most popular types of loans please visit our page “Most Popular Loans for Americans”.

If you are not ready to purchase a new home, check into the latest affordable rent-to-own options in your area.

 

VA home loan

 

What Does It Take to Qualify?

A VA Home loan is available to veterans who meet at least one of the following requirements:

  • You have served 90 consecutive days of active service during wartime,
  • You have served 181 consecutive days of active service during peacetime,
  • You have served more than six years in the National Guard or Reserves
  • You are the spouse of a service member who died in the line of duty or as a result of a service-related disability

For more on qualifing please visit “Who Qualifies for VA Home Loans”

 

How Does a VA Home Loan Save Money?

A conventional loan will require a 20 percent down payment, which many people will be unable to afford. However, unlike almost any other loan available, VA loans don’t require any down payment at all. Even FHA loans, which require a 3.5 percent down payment, also require private mortgage insurance. VA loans are backed by the government, so private mortgage insurance is not necessary.

 

 

How Else Does a VA Home Loan Help?

Most lenders determine your eligibility and interest rate based on their determination of your risk of defaulting on the loan. Since the government guarantees a VA loan, lenders can be confident in their investment. As a result, you will qualify for a loan more easily and often be able to receive a more competitive interest rate. In addition, there are no prepayment penalties as there are with most other types of loans.

Homes purchased with a VA loan must pass a strict appraisal process. This will limit the homes available to purchase, but it will protect you from costly repairs in the long run. The appraisal will make sure that the home is safe, structurally sound, and sanitary.

Many veterans have found that VA loans represent the best way to save money when buying a home. By saving on a down payment, private mortgage insurance and getting a lower interest rate, you can save thousands of dollars over a conventional or FHA loan.

To learn more about VA loans and other housing programs available through the government, click here!

 

Resources:

US Department of Veterans Affairs

USA.gov

Bankrate

Low VA Rates



5 Ways to Keep Your House During A Market Crash
Anyone paying attention to the housing market in the Los Angeles area knows that home prices have been at record highs. National Mortgage News suggests that this could be a housing bubble about to burst, and a decline in home prices and an increase in mortgage...
Things You Need to Know About Section 8 Assistance
Things You Need to Know About Section 8 Housing Some families might find a safe, decent and affordable housing as a big challenge to tackle. Majority of regions in the United States do not have rent control laws in place. Therefore some renters find affording a...
Helping Homelessness with Government Grants
 Poverty and homelessness in the United States and around the world is increasing on a daily basis. Here in the United States, rising housing costs and lower livable wages have been among the 2 biggest contributing factors. Lack of mental health facilities...
Readership Programs for Children
Readership Programs for Children The summer break may not always be beneficial to children. Studies show that children lose an average of one month of learning during the time off between school years. One way to counter this is to engross them in activities that...
Government Grants Exposed
You and I have heard it all before, the man with the funny jacket on late night TV telling us that the United States government gives out over 30 Billion dollars in grants every year. And if we want any of that for ourselves, all we have to do is send him...
The Facts You Need to Know About Payday Cash Advances
If you need money, it can feel as if there is no one to help you. It may feel like you're up a creek without a paddle. Luckily, you can get payday cash advances to help you out. Research all companies that you are considering. Find a lender that fits you...
Which Student Loan Repayment Options Work for You?
Which Student Loan Repayment Options Work for You? The student loan process can be tricky and difficult to understand. Students often overlook the process from the beginning of college until graduation, never realizing the impact of the loans until payment become due...
Are Discount Stores Really A Bargain?
It seems like dollar stores and other various discount stores are becoming a common retailer in most areas. Can these discount stores really offer you a bargain or do they just sell poor quality items? In my opinion, there are plenty of great bargains to be found in...
Finding Employment with Job Searches
Finding Employment with Job Searches Sometimes, life hits Americans hard. With ups and downs in the economy, it may be difficult to maintain consistent employment over a long period of time. Fortunately, there are options to help find a new job or career. In the...
Natural Antibiotics and Antivirals
The issues of antibiotics and antibiotic-resistant bacteria have gotten a lot of attention lately. The concern is that bacteria, having been exposed to antibiotics for so long, have developed a resistance to the antibiotics, creating "superbugs." The grim reality is...
Teach Safety First
There is no denying the fact that the dangers out there are very real and your child is susceptible to them all. Luckily you can implement so many strategies that help protect your little ones and keep them safe at any age as long as you are willing to...
Accepting Failure | Achieve Success
Everybody has a setback every once in a while, but it doesn’t mean that there is anything wrong with you. In fact, accepting failure can be a great opportunity to learn your own limitations and boundaries, then push through them, and provide you with a...
5 Strategies to Reduce Stress and Strengthen Family Relationships
 Stress is everywhere. You feel stressed at work and on your commute, and maybe even your home, the place that is supposed to be your sanctuary. When you arrive home from your job, you're met by bills that need to be paid, children that need to be fed and...
Home Improvement Grants
 Is your home desperate for repairs? Are you at your financial limits, broke...flat broke? Have you ever wondered how it would feel to have the government help you be able to afford these critical repairs? Help is possible through new home improvement...
Positive Thinking Can Change Your Life
Positive Thinking Can Change Your Life Enthusiasm Is Positive Energy “No pessimist ever discovered the secret of the stars, or sailed to an uncharted land, or opened a new doorway for the human spirit.” - Helen Keller Enthusiasm is the sunshine of your mind’s garden....
Modern Millionaires Mindset
Here’s A Modern Millionaire Rhetorical Question:   If you have a spare million dollars in your bank account today… How will you spend it? Pay off all your bills and loans? Buy your dream car? Dream house? Give your family a better life? Travel all...
Run A Background Check When Applying for Jobs!
 Social media is everywhere in the air around us today. Hence it is natural for you to assume you can handpick and choose what you want your employees to see. Most people therefore imagine that once they clean up their Facebook wall and delete those...
Five Great Resources for Working from Home
 There have been thousands of people watching “Good Morning America” who have sent us messages thanking us for helping them make the money while working from home. For anyone who hasn’t yet taken the leap forward but feel as though you might be ready,...
Natural Healing Options for Arthritis
Arthritis comes in various forms, but it's always painful. The typical medical approach is to take some sort of pain medication (usually non-steroidal anti-inflammatory drugs, or NASDs) that might result in various side effects, such as stomach pain. Thankfully, there...
How Do I Get FHA Refunds?
Although FHA refunds are for people who have FHA-insured mortgage loans, not everyone is entitled to a refund. Various factors are considered to determine who can receive a refund. FHA refunds are available for those who finance their homes within three...

Subscribe

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Name and Email for Best Results

Due to the overwhelming response, enter your email for best results. Look for your free ebooks from New Flex Career!

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email to Receive New Assistance Updates

Due to the overwhelming response, please enter your name and email to ensure proper results.

Thank You! You will now receive the latest assistance updates!

Pin It on Pinterest

The More You Share. The More We Can Help!

Share these posts & pages with friends!