The United States of America is quite fortunate as a nation as some of the bravest men and women protect her security on the battlefield. These patriotic men and women don’t think twice before sacrificing their life and limb for service to the nation. The U.S. Government recognizes their valiant service to their nation and the government therefore has a number of welfare schemes in place to help disabled veterans live a life of dignity after losing their limbs in the line of duty. For example, if you are a disabled veteran who is applying for a VA Loan, then you would get additional benefits. A large number of disabled veterans make use of the benefits available to them and makes it easier for them to buy a property in the United States. Here in this post, we would be looking at some of the benefits that you would get while applying for VA Loans. Exemption from VA Funding FeeVA Funding Fee is often regarded as a burden on VA Loan Borrowers. That is the reason why a VA Home Mortgage Calculator on the web would ask you for the VA Funding fee applicable to you. However, if you are disabled vet, then you can leave that part of Mortgage Calculator with VA Loan empty, as you would be exempt from paying a VA Funding Fee. Ordinary home loan borrowers, especially those who have been using the loan for the first time would have to pay a funding fee of 2.15% of the total loan amount. Now, if the loan amount is around $350,000 then the VA funding fee would be $7525. If you are a disabled veteran, then you would save a lot on that money. If you are in the process of getting your disability rating and you haven’t received any word on it yet, then you need not to worry. Even if you receive the rating after the loan is closed, you can apply for a refund if the effective date of receiving the benefits is before the date of the closing of the loan. Getting in Touch with the ExpertsIf you are a disabled veteran and you want to get the best out of your benefits entitled to you by the Department of Veteran Affairs, then it would be a smart way to take the help of a VA Loan Specialist in your state. The leading VA Loan Lenders of the country would have a team of experts and they would use advanced tools like VA Disability Benefits Calculator and would help you understand the benefits that you would be entitled to and how you can get a VA Loan with ease. They help several veterans every year to get a VA Loan and hence they would be the perfect group of people to help you out. So, get the help of the leading VA Loan Consultants in your state and live a dignified life like you deserve to.
0 Comments
Buying a home somewhere in the wide expanse of the United States metropolitan culture, is a dream nurtured by millions. But, home buying is not so much difficult for regular buyers as it is for first-timers. Thankfully, the scenario currently is in favor of first-time home buyers and they are finding it easier to get their first home loans at more relaxed rates and conditions that had existed previously. In this context, let us talk about the most important part of the entire home loan scheme; the down payment. What does a down payment mean and why pay? Once you have chosen a home, you can either pay it in cash from your savings or simply borrow money from the bank. In most cases, people need to borrow money from banks and certain banks offer to provide you with 100% financing. But, mostly people do not like settling for the option. This is where the question of down payment arises and one makes the initial payment from his bank account. Once you agree to make a small down payment, the remaining amount of the home purchase would be paid by your bank. The down payment that one needs to make, depends on the type of mortgage he has signed up for. Today there are a number of mortgage loan types and they can also be customized to meet the needs of the borrower. You can take any amount of down payment you wish to have, as long as you have provided the lender with his minimum requirement. The most popular low-or-no-down payment mortgages include FHA loan, VA loans, Conventional 97, USDA loan and Home-ready mortgage. Out of all the mentioned types, VA and USDA allow a 100% financing benefit. The FHA loan allows for a 3.5% down payment, while the USDA and Conventional 97 permits for a 3% down payment plan. While FHA is friendly towards first-timers, VA mortgage rates are the lowest when compared to other mortgage types. How helpful is a down payment assistance program? First-time home buyers often cite that down payments are like impediments in the path of home ownership. Reason why, most first-timers opt for down payment assistance programs (DPAs). To most people’s surprise these programs actually exist and are quite wide spread all over USA. Millions of people have till date benefited from them, because qualifying for a loan with them is not very difficult. If you are looking forward to secure some help from down payment assistance programs, you will have to get in touch with the best VA loan advisers and other cities of US to weigh your chances.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
October 2016
Categories
All
|