Military VA Loan Excellent Benefit For Veterans
If you served in the United States military for over a certain period of time, you more then likely are eligible for a Military VA Loan. This program was established as a benefit for our men and women serving our country in any capacity from our brave infantry to our awesome pilots to our specialized personnel flying our satellites.
There are a few qualifications to meet, but it is much easier to qualify then other loan programs. AND it is only available to active duty, retired or anyone who served in the military, our veterans. While many other programs exist, those programs could be harder to qualify for.
This program is guaranteed by the U.S Department of Veteran Affairs and can be issued to past and present military personnel by certain qualified lenders. It is a very attractive program for both lenders and military service people. It was set up to aid those who could not qualify for more stringent programs and it can even extend to the spouse of a military person.
Terms could change and so do veteran loan rates, but a great benefit to this program is that veterans can go up to 103% financing in their home without maintaining private mortgage insurance. This is a huge savings.