November 11th, 2022 2:09 PM by Judy Chapman
Freedom does have the word Free in it, but we all know that Freedom is not Free. There are so many who have made sacrifices so that we can have those Freedoms we hold dear. Some have made the ultimate sacrifice, leaving behind loved ones. Our Veterans range in age from the very old to the very young. I am looking back on some of the pictures of servicemen on Facebook and I see photos from different wars and different conflicts. We hold each one close to our hearts and owe them so much.
Our military service members have a great loan option in the VA loan. According to Chris Wolfe, with Integrity Mortgage, this option is reserved only for our eligible military service members. The down payment is as little as 0% down and Mortgage Insurance is not required, making this a cheaper alternative than other lower down payment mortgage products. A Certificate of Eligibility from the U.S. Department of Veterans Affairs will determine if the service member is eligible for this loan product. In most cases, one VA loan can be obtained at a time though rarely there are certain situations where a service member may have enough entitlement remaining to purchase another primary residence while still keeping their current VA Loan, however, in most cases only one VA loan can be active at a time.
Chris further mentioned that certain manufactured homes can be purchases with a VA loan and debt to income requires can be less restrictive than other loan programs in general. Did you know that VA loans do not allow co-signers or co-borrowers unless they are your spouse? This means that a domestic partner can’t apply with a service member to obtain a VA loan if needed to qualify, but spouses of Veterans are allows to apply.
"It’s a great option for military service members looking to buy a home," said Wolfe, "and we thank you for your service and sacrifice to protect our freedoms!"
It is helpful anytime you are searching for assistance from the VA to have your DD-214 recorded with the Register of Deeds office in the county where you live. Should you misplace your original, a certified copy can be obtained from the Register of Deeds.
Someone observed recently that Veterans were honored on Veterans Day, Memorial Day, and Labor Day, but the rest of the year, they were set back on the shelf. If you have a family member, friend, or client who served our country, next time you see them be sure to thank them for their service. Don't just wait for Veterans Day to roll around one time a year. Let them know how much you appreciate the sacrifices they made on our behalf. Thank You To All Veterans from Integrity Mortgage and from Appleseed Realty !!!
PS There are certain nuances when working with a VA Loan. Be sure to seek out that Lender and Realtor who has experience in working with VA loans for a smoother, easier close. You know where to find them!!