Are you an Orange County veteran? One of the benefits of serving in the military is that since 1944 Veterans qualify for VA Loans after serving their country.
Also originally known as the Serviceman’s Readjustment Act, VA loans offer excellent value for veterans and enable them to get into a home, without having to pay a down payment.
Recent studies have shown that VA loans have been offering veterans a better deal over the last few years especially when compared to loans from top lenders like Freddie Mac and Fannie Mae and this is one of the reasons why VA loans have also been closing at a fast pace not seen the early 1990’s.
Are All Veterans Eligible For VA Loans?
Contrary to public opinion, not all active or non-active members of the military are eligible for VA Loans; to qualify a Veteran must meet the service requirements based on the branch of the military that they serve.
Service examples: Gulf War vets are only required to have 90 days of active service to be considered eligible for a VA loan while National Guard members are required to have at least six years of service.
Excellent Financing Options
Thanks to VA loans a veteran can expect to receive complete financing for 100% of their loan and best of all, they will never be required to have mortgage insurance either.
VA loans are also an excellent option for veterans because, this type of mortgage loan doesn’t penalize a veteran based on their credit score and VA loans also offer veterans the ability to obtain financing for any repairs to their Orange County homes including making “green” repairs, which would enable their homes to use less energy.
Great For Refinancing
Another benefit of VA loans is that they also offer veterans excellent refinancing options including a streamlined refinance program that isn’t available to non-veterans.
If you’re an Orange County veteran and are interested in getting a VA loan, contact Steven Williams at Sun Financial Group today for a free VA mortgage rate quote by calling: (949) 699-1950.
No comments:
Post a Comment