Veteran Home Loan
If you are a veteran of the United States Armed Forces,
you already know about some of the benefits that come
from serving your country. You've felt the pride that
comes from defending America; you've experienced the
assurance of being part of a team. But now that you're
back on the home front, there's yet another benefit
that awaits you--home ownership. You are eligible to
apply for a Veteran Home Loan, which can help make your
American dream come true.
President Franklin D. Roosevelt helped create VA Loans
back in 1944, when he signed the Servicemen's Readjustment
Act (a.k.a. the GI Bill of Rights) into law. In doing
so, veterans were given the chance to apply for federally
guaranteed home loans that didn't require a down payment.
Thanks to the GI Bill, millions of veterans and their
families have been able to enjoy the privilege of owning
their own homes.
Today, a VA Loan will guarantee up to 25 percent of
a home loan--as much as $85,912. This means the total
loan could be for as much as $359,650. And there are
more than 25.5 million veterans eligible. To meet eligibility
requirements, you must have served at least 90 days
of wartime active duty without a dishonorable discharge.
If you were in the military during peacetime, you must
have served at least 181 days of active duty--also without
a dishonorable discharge.
Reap the Benefits of Service with a Veteran
Home Loan
Besides not requiring a down payment, VA Loans also
generally offer lower interest rates. And there are
several different kinds of loans to choose from--if
you don't plan on living in your house for more than
five years, you may pick a balloon or adjustable rate
mortgage over the traditional fixed-rate option. Think
of a VA Loan as a little thank-you from Uncle Sam, and
start planning your future today.
Resources: Veteran's Administration Loans
Adjustable Rate
Mortgage | Compare to HELOC
Loans | Compare
to Fixed Rate |
