Contributor

The Department of Veterans Affairs (VA) honors the pledge that Military Service Members and Veterans made to protect our nation. As part of VA’s mission to provide world-class services for the men and women who sacrifice for us, we created a dedicated career support program just for them: VA for Vets.

VA is committed to helping Veterans thrive. VA for Vets works to turn this vision into reality by offering the tools they need to launch their civilian careers at VA.

We offer:

• Thorough military skills translation and career matching for Veterans seeking employment.

•  Professional development and deployment lifecycle support for current Veteran and Military Service Member employees.

• Online training and personalized services for supervisors, hiring managers and coworkers who work with our Veteran employees every day.

Come see how VA for Vets is connecting Veterans to information, tools and resources they need to succeed: www.VAforVets.VA.gov.

Home Purchase Most Popular Articles

VA Loan Resources

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    There are five categories for eligibility. Your eligibility is based on you military service. Do you meet the criteria?
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    Once you've determined that you are eligible for a VA home loan, you can begin the loan application process, which includes six...
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    The VA loan limit for 2016 is $417K. But it could actually be substantially more if you buy a home in a “high-cost” county.
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    The VA guarantees a variety of home loans. There are two basic types of loans with two additional options that are appealing to...
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    IRRRL Facts for Veterans
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    IRRRL stands for Interest Rate Reduction Refinancing Loan,also known as a "Streamline" or a "VA to VA" loan.
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    What Is a VA Guaranteed Home Loan?
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    If you want to purchase or refinance a home, condominium or manufactured home, the VA can guarantee up to $417,000 of the total...
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    Top 3 VA Home Loan Tips
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    We've scoured the Internet to find the 3 most helpful tips to help you take advantage of this exclusive benefit.
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    In order to receive your Certificate of Eligibility for VA loan benefits, you will need to submit your request for a Certificat...
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    6 Unbeatable Benefits of VA Loans
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    Here's a look at six of the biggest, most unbeatable benefits of the VA home loan.

VA's home Loans are More Than Just Buying a Home

Family standing in front of a new home.

Stable housing leads to long-term stability, which factors into reliability and other characteristics of successful employees. Are you aware that loans guaranteed by the VA Home Loan Program have had the lowest foreclosure rate in the past 19 quarters compared to all other types of home loans? This is pretty significant given the trials and tribulations of the housing market during the past several years.

Many do not know that VA's Home Loan Program Benefit is not a one-time benefit, but can be reused. Since 1944, more than 20 million Veterans and Service Members have enjoyed the benefit of a home purchase through the VA Home Loan program. Veterans who have already used their VA benefit in their home purchase may reuse that benefit to purchase another residence, or to refinance to a lower rate. This is referred to as an Interest Rate Reduction Refinance Loan (IRRRL) or Streamline Refinance Loan. No appraisal or credit underwriting is required.

Consider this: If a Veteran used their benefit, perhaps while on active duty, to purchase a home, they should compare their interest rate with current rates in their area. That Veteran can reuse their VA benefit to refinance their home with "no money out of pocket," as costs may be included in the loan. If that Veteran has since separated or retired from the military and receives disability compensation of at least 10%, he or she is exempt from the funding fee. This can be a considerable monthly or total savings for the Veteran. On average, Veterans saved more than $200 per monthly payment on IRRRLs last year, saving those Veterans over $900 million in their first two years alone!

Veterans may obtain a Certificate of Eligibility online through eBenefits or through their lender. I encourage Veterans to seek the advice of a financial professional and to contact several lenders for quotes to determine what is in their best interest. If you have any questions, you can contact your closest VA regional office with Loan Guaranty staff by calling 877.827.3702, or visiting this website.

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VA Loan

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Contributor

The Department of Veterans Affairs (VA) honors the pledge that Military Service Members and Veterans made to protect our nation. As part of VA’s mission to provide world-class services for the men and women who sacrifice for us, we created a dedicated career support program just for them: VA for Vets.

VA is committed to helping Veterans thrive. VA for Vets works to turn this vision into reality by offering the tools they need to launch their civilian careers at VA.

We offer:

• Thorough military skills translation and career matching for Veterans seeking employment.

•  Professional development and deployment lifecycle support for current Veteran and Military Service Member employees.

• Online training and personalized services for supervisors, hiring managers and coworkers who work with our Veteran employees every day.

Come see how VA for Vets is connecting Veterans to information, tools and resources they need to succeed: www.VAforVets.VA.gov.

© 2016 Military Advantage