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



Ways to Face Fears | Succeed
All of us have a hard time with failure, and it can often lead us to feeling insecure about ourselves. It can even begin to compound our fears and leave us feeling nervous and anxious in unfamiliar situations. We want to be able to predict and control everything that...
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...
How Does Renting to Own Really Work?
 In the years leading up to the financial crisis of 2007-08, the renting to own model — in which tenants/buyers have an option to purchase the house or condo they’re renting from their landlord/seller— was mostly offered by individual homeowners. In the...
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...
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,...
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...
HARP Eligibility and Assistance
 If your mortgage is making your financial life more difficult than you expected, you can get assistance through a program called HARP (Home Affordable Refinance Program). HARP eligibility is easy to determine as there are several factors that can affect...
Budget Tips for Today’s Family
If you are in charge of creating the family budget, chances are, you’ve had the unfortunate experience of having a brilliant budget plan that isn’t executed well. This happens to many families and couples, and with a little attitude tweaking, you can solicit the help...
Understanding Federal Grants (Part 1)
 Let me start off by asking you this question. How would you like free money that you will never have to pay back, from the federal government? Sounds great doesn't it? Well, the simple truth is that you can get it if the government decides to award you 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...
Disability Lawyers | Filing SSA Claims
According to the Social Security Administration, an average of 52% of applicants is rejected yearly. This only shows that the government is very serious in paying only those who deserve these benefits. So, it is important that social security disability...
Job Hunting at Career Fairs
Are you looking to find a new job or a new career? If you are, you may want to try career day job hunting, as it is a great way to not only find available jobs, but also apply and interview the same day. Looking for new and exciting careers? Click the link below!...
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...
Is Public Housing An Option for You?
The US Department of Housing and Urban Development (HUD) utilizes several programs to ensure housing for lower-income families. One of these programs is Public Housing. This program was designed to provide decent and safe rental homes for lower-income...
How To Get The Best Insurance Deals
In most cases finding the best insurance deals is difficult. Since having insurance is a requirement rather than being optional it is a good idea to shop around for the best insurance deals. It’s difficult to shell out the cash for insurance premiums and...
How to Save Money on Your Kids Dental Bills
Your family budget might not extend as far as it used to. Still, you want your children to have healthy teeth and inexpensive kids dental bills. Learn how to save money on your kids dental.  Like Clean Teeth? Try the Dollar Brush!   Courtesy of Fox News Health...
Applying and Making Phone Calls to Potential Employers
Applying and Making Phone Calls to Potential Employers Applying to Places Not Hiring: A Wise Move or Not? Are you in desperate need of a job? If you are currently unemployed or if you truly think that your current job is making you “crazy,” you may be due for a new...
Step By Step Guide To Debt Repair & Rebuilding Credit
Step By Step Guide To Debt Repair & Rebuilding Credit A severe debt situation is a huge financial misfortune that can ruin your ideal credit scores. If you are bothered by this excruciating condition, never worry. You are not alone in this regard. During the...
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...
Affordable Health Insurance
Is finding affordable health insurance as improbable as encountering a unicorn walking across your back lawn? It doesn't have to be. Here are seven steps you can take to lower your costs.   1. Understand your options to buying affordable health...

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!