Servicemembers returning to the states from overseas can take advantage of the Department of Veterans Affairs' (VA) home buying guarantee. Servicemembers apply for home loans through a bank or lender as they normally would. Then, the VA loan guarantee is like having a guaranteed co-signer for the servicemember's loan. If the loan defaults for any reason, VA guarantees the bank or lender a percentage paid back. By using VA, some homes can be purchased with no money down, which often means more money in the pocket of servicemembers to buy necessities for their new home. For information about VA home loan guarantees, visit the VA's Home Loan Guaranty Services website.
Learn more about using your VA Loan benefit at Military.com.
VA Guarantees Home Loans
Week of July 16, 2007
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