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 VA home loan program aims to help veterans finance home purchases at rates of interest lower than that of other mortgage loan types. In the case of VA housing loans, the term ‘veterans’ refer to active duty service personnel, certain category of spouses and members of the Selected Reserve. Though the benefits of the loan are immense, the payment of mortgages really brings out the worried family person in us. Medical problems, loss of employment means, unexpected financial losses and intensive splurging over a particular event, somehow adds to the financial issues. The VA Guaranteed Home Loan program aims to offer financial counseling to holders of the VA mortgage so that it becomes easier for them to make payments. Many ways could ease your mortgage payment troubles. For a veteran or a serving military professional, it is very important to get in touch with the right professional experts in VA loans for help in mortgage related issues. Visiting a bank or your chosen lending institution is the first step that you should take to alert the concerned people about the difficulty that you have been facing. The VA loan experts in the bank would be able to chalk out an appropriate repayment plan so that planning your mortgage payments become easier. An honest discussion will enable them to help you out with your problem. Once a repayment scheme has been established, all you have to do is stick with it. Another way of handling the mortgage payment problem would be to go for loan modification. Your bank might just be lenient enough to offer you a ‘restructure’ option. In this method, your bank would probably allow you to roll the missed payment into the final balance amount. Once done, you would just have to reassure your bank that you would be able to make the future repayments without any difficulty. In a crisis, your bank might ask you to sell your home off. If you do so, you would be saved from featuring a foreclosure on your record and that would be beneficial for you in future. For those who would rather not take this route, A Deed-in-Lieu of the Foreclosure Agreement to the mortgage service will help in avoiding the hassles of a legal foreclosure process. In other cases, your bank may introduce you to a VA IRRRL. |
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