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Veterans Military Discount Links

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VA Loan Checklist

The VA loan is a financial assistance available to more than 25.5 million eligible veterans as well as service personnel. This benefit, which is designed to offer housing assistance to veterans and their families, is undeniably attractive and provides several advantages to boot. A veteran is eligible to avail of the VA loan if he served on active duty and was honorably discharged after not less than 90 days of service during the war, or not less than 181 consecutive days during peacetime. If a veteran began his service after September 7, 1980, or if he was an officer and

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VA Loan Funding Fee

Just for the record, the VA Loan is also referred to as the GI Bill of Rights through the Servicemen’s Readjustment Act. The said bill, which provides veterans with a federally guaranteed home without the need for them to shoulder the down payment, was signed into law by the then President Franklin D. Roosevelt. The main purpose of the VA Loan, of course, is to offer housing assistance to the veterans and their families. This helped pave the way for millions of veterans to make their dreams of owning a house a resounding reality. Aside from being arguably the most

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VA Loan Requirements

Just for the record, the VA Loan is also referred to as the GI Bill of Rights through the Servicemen’s Readjustment Act. The said bill, which provides veterans with a federally guaranteed home without the need for them to shoulder the down payment, was signed into law by the then President Franklin D. Roosevelt. The main purpose of the VA Loan, of course, is to offer housing assistance to the veterans and their families. This helped pave the way for millions of veterans to make their dreams of owning a house a resounding reality. Aside from being arguably the most

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VA Guaranty vs. VA Loan

Becoming a first-time homeowner is an exciting time and a big milestone in everyone’s life. However, it can be also be stressful and confusing, especially with all the options, small details, and paperwork that is required. If you are military personnel, the VA has made this a much easier process by offering a VA guaranty. Still, it is important to understand the ins and outs of a VA loan before you sign on the dotted line. The first thing you need to understand as a borrower is where the money comes from. A lot of people believe the VA itself

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Refinancing Your VA Loan

Refinancing a mortgage loan is easier and more common today than ever, and this is true for both traditional loans and VA loans. There are many reasons why you might want to refinance, whether you need cash to pay off other debts, or just want to get a lower interest rate on your current loan. The VA accommodates all of these needs by providing two different refinance plans: VA Cash-out Refinance Loan and Interest Rate Reduction Refinance Loan (IRRRL). Cash-outA cash-out loan is great if you need money now. Whether you want to buy a new home, pay tuition, or

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Types of VA Loan Repayments

Once you’ve decided to go ahead and apply for a VA loan, the next step is choosing what kind of repayment plan you want to be on. There are five options you can choose from, and it really comes down to how much you are willing to pay up front and in the future. This article will take a closer look at these five options which include a traditional fixed payment, growing equity mortgage (GEM), graduated payments mortgage (GPM), traditional ARM, and Hybrid ARM. Traditional FixedThe traditional fixed loan is a common type of loan not only for VA loans,

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Joint VA Loan

Having a co-signer on a loan can be incredibly handy and useful for getting a bigger loan and lower interest rates. This is true not only for traditional loans, but for VA loans as well. If you are considering getting a joint loan, you can use your spouse, another veteran, or a non-veteran to co-sign. Of course there are some rules and stipulations that come with each type of co-signer. Spouse If you are planning on a joint loan with your spouse, they will be covered under the entire VA loan. The VA guidelines recognize legally married spouses of veterans

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VA Streamline Refinancing and Marital Status

If you already have an existing VA loan and are interested in refinancing, there is no better time than now. Interest rates are low, and since you already have a VA loan you can apply for a VA Interest Rate Reduction Refinancing Loan (IRRRL) also known as VA Streamline refinancing because of simple process involved. However, if there is a change in your marital status (whether you are getting married or divorced) there are some things you need to be aware of. When you apply for a VA IRRRL, one of the benefits is the relative ease it is approved

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VA Jumbo Loans

If you are a qualified veteran interested in obtaining a mortgage for a new home, you have access to a basic entitlement of $36,000 on loans up to $144,000. However, the VA has made changes in recent years that allow veterans to purchase single-family homes higher than this amount. Entitlements For Veterans The VA now offers an entitlement up to 25% of the loan amount if it is higher than $144,000 (as long as it is below your county’s loan limit). This means you can buy a more expensive house and still not have to make a down payment. A

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VA Home Loans: Facts and History

Buying a new home is a huge investment – not only financially, but emotionally as well. It can be a thrilling experience, but also a trying process that does not always work out as planned. The US Department of Veterans Affairs is well aware of this and has made the loan process simpler and more affordable for veterans, active duty military personnel, and their families. The very first VA loans were part of the comprehensive GI Bill that was signed into action in 1944. Under the law, the VA was given the authority to guarantee the loan for a home,

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