In appreciation of the recent holiday I would like to talk a
little bit about Veterans Affairs (VA) loans.
VA loans are government guaranteed loans that offer Veterans excellent
financing terms for their home mortgages.
These loans require no down payment and do not carry any monthly private
mortgage insurance (PMI). VA Loans also typically
offer lower interest rates than standard conventional financing. VA Loans generally require an upfront funding
fee; but this fee can be rolled into the financing, and is waived if the Veteran
has any percentage of disability.
Eligibility
requirements change depending on the time period in which the Veteran has served
and which branch of the military they served in. If the Veteran is currently on active duty
they will need 90 days continuous active duty to qualify. There are exceptions
if the Veteran was enlisted but did not serve on active duty and for spouses of
Veterans. If the Veteran has served in
the National Guard or were a Reserves Member they must have six years of
service. If the National Guard or
Reserve Member has been called up to active duty they may be eligible for a VA
loan before the full six years of service.
These are just a couple of the many different ways a Veteran can qualify
for a VA loan. If you are interested in
seeing if you qualify for a VA loan or would like more information please call
me direct at (763) 607-4339 or email me at rjuliot@lakeareamtg.com.
Thank you to all those who have served and those who are
currently serving. Your sacrifice and
bravery do not go unnoticed. You are the
true heroes and I am honored to help you reach the American dream that you have
fought so hard to protect.
Lake Area Mortgage, A Division of Lake Area Bank is Member
FDIC and an Equal Housing Lender.
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