Mortgages have been utilized by the Americans whenever they purchase anything from credit accounts to residential properties. These financial initiatives have covered Americans in order to provide them enough time to pay debts in full.
Since the 2007-2009 Great Recession, the U.S. housing and real estate industries have been struggling to recover financially. The increasing prices of residential properties and foreclosures have sparked concern for U.S. war veterans, young and old, when they return to their homeland after their military duties. In fact, the biggest U.S. cities like New York City and Los Angeles have become too expensive for ,ost middle-income Americans to afford. However, San Diego, a city in California, is recognized as one of the richest and safest cities to live within the United States.
The current U.S. war veterans are mostly composed of military personnel that have served in the anti-terrorism wars in Afghanistan and Iraq since 2001 and 2003, respectively. When these personnel are discharged as they go home, they would have to seek jobs not only to make ends meet but also to acquire their dream houses. As recommended by the “Money” and “Forbes” magazines, San Diego has been a suitable haven for returning veterans to start new lives after their patriotic duties. However, even if the veterans find the city as a suitable place for new careers after military duty, the main problem is that the loans not provided by the U.S. Department of Veterans Affairs (VA) are costly. The San Diego VA Loan programs can provide these veterans with financing solutions to help them own houses within the city, although most veterans want mortgages to keep them covered so that they will be able to pay debts from the loans they applied for. VA HLC has created the VA Home Loan Centers online portal to guide veterans in applying for mortgage initiatives in their residential areas, including the San Diego VA Mortgage programs.
The department’s mortgage site, has provided information and guidelines for military families and veterans who seek secured coverage for their financial debts charged by VA loans. VA has implemented new loan limits and housing prices to help veterans and military families utilize VA loans within the San Diego and Orange County portions in California. In addition, the highest loan that veterans can acquire is $1,094,625.00 without any down payment. In terms of VA mortgages, they vary by state, which means that for example, applying for a San Diego VA Mortgage must be in compliance to the VA Mortgage policies implemented in California.
VA Home Loan Centers has recently launched their VA Interest Rate Reduction program in order to cut the costs spent by veterans on VA residential loans by $100 per month. The program, also known as the VA Home Loan Centers Refinance, has been included in the underwriting rules of VA in order to help veterans and military families avail low cost housing. In order to qualify for the VA Home Loan Refinance, you must have the following: a duplicate of your genuine mortgage note, a copy of a DD-214 form, a duplicate of a mortgage statement from the existing lending company, and a copy of a homeowner’s insurance policy. However, you can exempt the last requirement if you purchase a condo, PUD or CIC. If you purchase a common interest property (condo) you may need an HO6 Wall-In home owners insurance endorsement.
With these mortgage solutions, veterans will be able to live better lives after defending freedom and reap their “real” rewards for their valor and service towards a better future and peace.
VA Home Loan Centers provides free resources and VA Home Loan info.
To apply for a VA Home Loan you may call 888-873-449 or click here for the VA Home Loan Application.
