75 Years of VA Home Loan Benefits

My first mortgage was a VA loan, with no money down.  I was in my 20's, and had been in the Coast Guard reserves where our military rivals joked that when our boats broke down, we would walk home.  I worked for a Birmingham company that moved me up to New England, and my income went from $21,000 to $40,000, a huge leap for this 20-something with no credit history.   

Today, on Veterans Day, we salute those who have served our country in war or peace, and we thank them for their sacrifice. Most of them, I am sure, had a more memorable military career. Yet we all get to enjoy the benefits that come from signing up.
This year marks the 75th anniversary of VA Home Loan Benefit offerings through the Servicemen’s Readjustment Act, also known as the GI Bill. Since 1944, this law has created opportunities for those who have served our country, ranging from vocational training to home loans.
Facts About VA Home Loans:

• Nearly 24 million home loans have been guaranteed by the Veterans Administration.
• Nearly 82% of VA home loans are made with no down payment.
• The VA also provides grants to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs. Last year the VA provided 2,000 grants totaling $104 million.

Benefits of a VA Home Loan:

1. No down payment
2. No Private Mortgage Insurance*
3. Lower credit score requirements
4. Limitation on closing costs
5. Lower average interest rates

*More information on VA Home Loan Fees
 Bottom LineThe best thing you can do today to celebrate Veterans Day is to share this information with those who can benefit from these opportunities. For more information, or to find out how to qualify to use a VA Home Loan Benefit, let’s get together to navigate through the process. Thank you for your service!

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Marshall Malone does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Marshall Malone will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.