Veteran's Loans - V.A. Loans are one awesome benefit to our Service Veteran's.

Democrats, Republicans, Tea Partiers......strong in opinion and not a lot of love between them all.  They don't agree on much, but most support the men and women who served our country.  You might support the war, be opposed to the war, but few (there are some) are opposed to our Veterans.  Me, I'm honored to have them fight for my freedom.  Forget the politics, these guys and gals exposed themselves so that I can retain my freedoms.

My father is a Vet, my grandfather was a vet.  I feel that they've received little in return.  The V.A. hospitals provide health care, but let's be honest, no one in their right mind would want to set foot in a V.A. hospital.  Well, besides pride and some other small tangible benefits, there isn't much for the Vets. 

The Veteran's Administration Loan (or V.A. Loan) is a great bene for the Veteran!!!!!

What's so nice about the V.A. loan is that it's great for all Vets who have had an honorable discharge.  Besides the standard documents:

• Lender's will need the DD214 (which is the papers stating that the Vet received an honorable discharge, and;
• A Copy of the Certificate of Eligibility  If the borrower doesn't have the certificate of eligibility, the lender can assist in obtaining that from the V.A. 

So What's so Great About the V.A. Loan?

First, and foremost, it's zero money down with no mortgage insurance or private mortgage insurance.  Yes, you have a Funding Fee, but on a monthly basis, zilch, zippo!!!!!  The up front fee to the Vet can be rolled into the loan amount. 

The up front premium amount is a variable.  Factors to that determine the cost of the funding fee are: 

• Is the Vet a regular military veteran?
• A Reservist;
• A National Guard Vet?

Each one has a different up front funding fee, so a good lender will ask that of you up front.

Additionally, as, of now, the V.A. allows zero money down on a home purchase.  Other than U.S.D.A. loans, it's really the only cost effective zero down payment loan out there.  This past year, I've put a lot of Vets in loans for purchasing homes.  My clients love this ability. 

There are so many features available to the Veteran in using this loan, but in this market, buying a home with no money down and with no monthly private mortgage insurance should prompt even the most skeptical Veteran into looking into this loan.

There really isn't a downside to this loan, but talk to a GOOD LOAN OFFICER who understands the V.A. loan process.