A 3rd party broker that specializes in mortgages guaranteed by the US government

Veteran Home Ownership & the VA Loan

low income americansIn the past six years, lower income Americans and those without ideal credit have found purchasing a home increasingly more difficult. Despite the post 2008 obstacles the civilian population has faced when it comes to buying a home, members of the military have seen an increase in home ownership. In 2013, Veterans made up nearly ten percent of the market for new homes despite only accounting for nine percent of the entire civilian population (2013 Census Bureau).  This is in no small part because of the VA Home Loan. According to Bloomberg news, VA Loans comprised eight percent of mortgages in the first quarter of this year, an increase from two percent a decade ago.


veteran's dayThe VA Home Loan which was initially created during World War Two as a thank you for service benefit is probably the most financially auspicious benefit available to veterans. Advantages of this loan include relaxed underwriting guidelines, low interest rates, 100 percent financing and perhaps most appealing 0 dollars down. The VA guarantee of up to $1,050,000 dollars exceeds many conventional home loans.

Eligibility for this program is determined by service time. A continuous 90 days during war or 181 days during peacetime are required. Active duty personnel and discharged vets may apply. An honorable discharge is required, with spouses being eligible in some cases.

Beyond purchasing a home, this loan can help veterans with energy efficient improvements, repairs and interest rate refinance.

It is of paramount importance that veterans’ issues stay at the forefront of our awareness. VA Home Loan Centers, a third party brokerage authorized to originate mortgages guaranteed by the United States Department of Veteran Affairs, strives to help veterans, active duty personnel and their family members find affordable housing, urges service members to take advantage of this program.

For more information about applying for a VA loan, visit https://www.vahomeloancenters.org/apply-for-a-va-home-loan/