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.
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The state of Colorado in the United States of America is known to be one of the most beautiful states in the country. The state is known for its diverse geography, which includes the picturesque Rocky mountains, deserts, arid plains, deep canyons, rivers, lakes and lush green forests. Therefore, the state of Colorado offers to be one of one the ideal places for veterans to settle down after separating from the service. If you are a veteran who wants to have a calm and serene life after dedicating years of service to the nation, then you can take a home mortgage and settle down in this picturesque state. Here, we would be taking a look at the few things that you should know before taking a VA home loan in Colorado. What makes you eligible?The Home Loan Guaranty Program of the Department of Veteran Affairs (VA) provides guaranty to the home loans taken by members of the U.S. Military. To be eligible for the Loans, you need to be –
VA Loan Limits in ColoradoThe VA does not specify the maximum amount of loan you can borrow. The Limits is practically the maximum amount of loan you can borrow, without paying any down payment. Adjustment of limits based on the real estate prices of the county. Therefore, if you are looking for a property in more expensive Pitkin county, you can get bigger VA Mortgage Loans. The Mortgage limits for certain counties are given below.
Getting a VA Home Loan in ColoradoIf you want to make the full use of the Colorado Veteran Benefits, there are a few things that you would need. You would need your DD214 form, which you would get when you separate from service. You would also need your Certificate of Eligibility (COE) which would state that you are eligible for such loans. You can get the COE yourself or you can ask a reputed Lender in Colorado to get the loan for you. Such experienced lenders would also offer a range of other services which would make the process of application for VA home loan Colorado, a whole lot simpler for you. So take the help of the leading lender in the state and fulfil your dream of settling in one of the picturesque lands in the United States of America.
When a veteran or a current member of the U.S Armed Forces gets to move to Hawaii, he/she immediately gets the feeling of moving to paradise. The exotic tropical climate and beautiful landscape often entices the mind of an average American. Therefore, this state is often considered to be one of the most ideal paces for veterans to settle down. This is probably the reason why there are more than 120 thousand veterans currently living in the state. The state also has a large number of military establishments which include the Hickam Air Force Base, Fort Shafter and the historic NS Pearl Harbor. If you want to settle down in Hawaii, then the best way to go about it would be to take a VA Loan, which is Federal program that makes home ownership easier for military home buyers. The Current Real Estate Market in Hawaii
Home prices are higher in Hawaii then they are elsewhere in the United States. Recently, the Department of Veteran Affairs has increased their VA Loan Limits. In areas famous for their tropical beauty, like Lahaina and Kailua Kona, home prices are astonishingly high. Some properties in these areas sell at more than a million dollars. Property prices are also pretty high in cities like Waianae and Kapolei. In Pahoa, however you can buy a comfortable family home at a price of $275,525. While the average price for an owner occupied home in America is around $119,600, the median price for owner-occupied home in Hawaii is around $272,700. Similar trends can be seen for the asking price for housing units in Hawaii, which are considerably higher compared to the rest of America. To keep up with the rising property prices in Hawaii and the VA has increased its lending limits. The VA Loan Limits for the counties of Hawaii are given below- County VA Loan Limits Hawaii $625,500 Honolulu $750,000 Kalawao $625,500 Kauai $625,500 Maui $625,500 This means that if you want to buy a property in this county, then you would get a loan of $750,000 from VA-approved Hawaii Mortgage Lenders without paying any down payment. Calculating VA Mortgage Payments VA Loan Mortgages are calculated the same way as any other traditional mortgages. However, one major difference is the VA Funding Fee, which in most cases, rolled up into the amount of loan taken by the borrower. The rate of VA Funding Fee varies, depending on the down payment you have paid and the nature of your service. The VA Funding Fee typically ranges from 1.25% to 3.30% for home purchase loans. For VA streamline refinance, the funding fee is 0.50%. However, if you are disabled due to your service, then you would be completely exempt from paying your funding fee. To calculate your VA mortgage payments, you can always use one of the Hawaii Mortgage Calculator available on the web. Getting in Touch with an expert When it comes for VA Loans, it is always a wise option to go with an experienced Hawaii mortgage company which specializes in offering VA Loans. Some of the most reputed VA-approved lenders in America, like VALoansFinance.com have their offices in Hawaii and they have helped several veterans and active duty members of the U.S. Military to get a Hawaii VA Loan. They offer you comprehensive range of services that help you ease the process of application. So what are you waiting for? Get a VA Loan in Hawaii from these experts and say ‘Aloha!’ to the beautiful islands of Hawaii and get your own piece of paradise. The Loan Guaranty Scheme of the Department of Veteran Affairs of the United States Government has helped millions of veterans get the home of their dreams even they don’t have the necessary finances. The state of Arizona has a considerable population of veterans and a large number of them own a home with the help of VA loans. However, there are a number of veterans in Arizona who have a conventional mortgage on their property. Often, they have the question that whether they could refinance their existing conventional loan into a VA loan. In the following post, we would be looking at the possible answers to the question. To the average veteran in the United States Armed Forces there are two types of refinance options available from the VA. One is the VA Interest Rate Reduction Refinance Loan (VA IRRRL), also known as VA Streamline Refinance and the other is the VA Cash -Out Refinance Loan. The VA IRRRL can only be used to refinance an existing VA Loan. So if you want to refinance your conventional, non-VA home loan in Arizona, then the only option available to you would be to take a VA Cash-Out Refinance Loan, as it would be available to you irrespective of the ‘nature’ of your existing home mortgage loan. The VA Cash-Out Refinance Loan is a good option for veterans who want to refinance their loans as it does come with several advantages. For example, you do not have to pay for any Private Mortgage Insurance (PMI) for such a loan. If you would like to know more about the benefits of VA cash out refinance, then you can always get in touch with a VA loan consultancy. If you want to know about the options you have when it comes to refinancing your VA Home Loan in Arizona, then VALoansFinance.com is one of the leading VA approved lenders in Arizona, offering services in areas like Tucson, Phoenix, Mesa, Scottsdale, Glendale and others. They also offer you expert advice, which makes the entire process of getting a VA Home Loan Arizona, a whole lot easier. So, if you want to refinance your existing conventional home loan or VA home loan, with a VA refinance loan, then get in touch with the real experts today! Citizens of US war veterans or servicing military people are up for some really good news. The Veteran Affairs loan which initially started out as a simple initiative by the Department of Veteran Affairs to ease the lives of US citizens employed in the armed forces, has today become a highly talked about and enquired government policy that has transformed many lives for the better. Today, by virtue of several online forums and VA loan consultant services, people have become aware of the underlying advantages of these beneficial schemes.
However, same is not the case with borrowers who have used the VA loan before. They may have a little or nothing of the entitlement remaining, when the time for making another VA purchase dawns. So, what can a borrower do in such a situation? The borrower will simply have to apply for a restoration of the entitlement before seeking a new loan.
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