Another Perk Of The Armed Forces: Easy Va Loan Requirements

VA loan Requirements are pretty simple and stress-free for members of the United States military and their spouses to meet

. Qualified candidates for these loans include military spouses, active-duty personnel and many veterans, including even those who are not first time home buyers at the time of application.

To acquire a VA mortgage, one must be a military veteran or active duty personnel member. Before you get approved, however, you are mandated to either spend 90 days at war or twice that number of days as an active service member during peacetime. In the unfortunate case that a military member is KIA, their spouse will still have the opportunity to get one of these military-exclusive loans as long as they do not marry someone else before the process is complete.

Many individuals who have pursued this type of loan in the past have found the process to be quite easy. It should be pointed out that the VA is not an actual lender who will give you the money you need to buy a house, but they will make sure that your lender gives you the terms you deserve. With the support of the VA, whatever lender you opt for will be much more inclined to approve the loan you need under the specific terms you are looking for, if not even better than you originally expected.

The Veteran's Association will not only be able to make sure that you acquire a loan that works for you; they will also make sure the loan you choose can save you a huge chunk of money in the long run. One way that they really help you out is the fact that they try to make it so that you pay no money down and no closing costs. There is nothing more worrisome for a homebuyer than when they lose their job or get injured and can no longer manage to pay their mortgage; and thanks to the mortgage insurance that comes with all VA loans, military members don't have to worry about this at all. Other advantages include reduced interest rates, flexible payment terms and no prepayment period.

As a member of the military or military spouse, you have made many sacrifices for your loved ones. These unique loans are one of the many ways that American service members are rewarded for these sacrifices. With VA loan requirements being relatively lax and the benefits being so great, it only makes sense that active duty personnel, veterans and widowed spouses would consider using this type of program to get a home of their very own. Interested applicants must visit their preferred bank or credit union today and pick up an application to begin the process of approval.

by: Warner C. Judge

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