Generally, almost all active duty service members in the Army, Navy, Air Force, Marines, or Coast Guard are eligible for a VA home loan. Also, anyone who served on active duty and was then discharged under any condition other than “dishonorable” is eligible.
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Archive for the 'VA Loans' Category
Today about 70 million people could be eligible for VA benefits because they are veterans, family members of veterans, or survivors of veterans. Benefits range from health care to education. The original “GI Bill” giving these benefits to veterans was signed in 1944 by President Franklin Roosevelt after World War II. The 2009 update to the GI Bill gives veterans and Guard/Reserve members (with more than 90 days of service) who served after September 11, 2001, even more benefits.
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VA mortgages are a great financing option for both first time homebuyers and current homeowners. These types of loans have multiple benefits, including no down payment on purchases and no mortgage insurance.
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In order to qualify for the VA loan, you should have served in the Air Force, Army, Navy, Coast Guard or Marine Corps. However, you should have served for a certain period. If you have served during the war time, it is essential that you have served for at least ninety days. If you have served during the peacetime, you should have served at least one hundred eighty-one continuous days.
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If you’re a veteran and are considering buying a house but are not sure if your credit is good enough, you may be in for some good news when looking to qualify for a VA loan. Lenders who specialize in VA loans are not interested in your FICO score as they would be for the average borrower looking for a loan. Instead of scrutinizing your credit history to determine if you are qualified or possibly sub prime, they use an entirely different way to qualify you if you’re a Vet.
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If you are PCS’ing to Texas and trying to find out how to qualify for a Texas Vet VA home loan, this article will tell you how you do it and what you will need to get started. The financial institutions that you “think” might offer these product, do not! Be careful who you talk to when it comes to getting financed for a Texas Vet VA home loan. This article will tell you what documents you need.
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A VA refinance mortgage can be used if a homeowner qualifies based on service, income, and credit eligibility. Find out more about the loan that requires no down payment and no mortgage insurance!
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Find out how each type of VA mortgage refinance could help veterans and current service members. You could save money each month and consolidate debt!
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According to a 2009 study performed by researchers at Harvard Medical School, there are approximately 1.5 million U.S. veterans who went without any form of health insurance in 2008, and of those, an estimated 2,266 suffered preventable deaths due to the lack of health care. Additionally, the U.S. Department of Veterans Affairs finds that each night 131,000 of those who have served in the military spend the evening homeless – with people from every generation and war being represented in the statistic.
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Military cash loans are basically meant to help the military personnel. It provides cash inflow in small chunks so as to help the borrower to get rid of his current debts and lead a prosperous life ever after.
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