ATTENTION: RESERVISTS / GUARDSMEN

You may be eligible for VA home loans up to $417,000* with zero down, as the Veterans Administration is providing loan guarantees to reservists and guardsmen if you meet anyone of the following conditions:

  • You have completed six years in any U.S. reserve component since 1944.
  • You have served 90 days in a "War Zone", such as Somalia, Haiti, Grenada, Persian Gulf, Bosnia, Afghanistan, Iraq, Etc.
  • You have served 181 days of continuous active duty.
  • If you were disabled before completing your six year obligation.
  • If you were discharged at the convenience of the U.S. government, such as in a reduction in force, before completing your six year obligation.

If you meet any of the above conditions, you should immediately contact Normalina Martin & Associates to obtain a VA certificate of eligibility from the Veterans Administration. A VA lender can determine the loan amount that you would quality for. There is no cost for these services.

ADVANTAGES OF OBTAINING A VA HOME LOAN

  • VA home loans require no down payment up to $417,000*, and many lenders only require 25% down on the amount over $417,000. The maximum VA loan amount is now the same as the FNMA/FHLMC maximum loan amount and is adjusted annually.
  • The seller or builder can pay all of the veteran's/reservist's closing costs and pre-paids, making it possible to buy homes with zero out of pocket expenses. The veteran may also choose to finance the closing costs and pre-paids by agreeing to pay the lender a higher interest rate.
  • VA provides very liberal qualifying guidelines, including no minimum credit score requirements. Some lenders do require minimum credit scores on their V A loans through their automatic underwriting systems.
  • VA loans can be assumed by veterans or non-veterans at the original interest rate to include investors and owner-occupants. VA loans may be sold on installment sales, such as a lease purchase or a contract for deed, without the buyer going through traditional lender loan qualifications. This makes VA loans/homes easier to sell than FHA or conventional loans.
  • Home sellers are no longer required to pay loan discount points on VA loans, this makes sellers more receptive to VA offers to purchase.

This notice is provided by Jeff Elias Seminars as a public service to this nation's reservists/guardsmen, as this program has gone largely unused since its inception in October, 1992, due to lack of publicity from the U.S. government. In order to find out if you are eligible, go to military.com, click on benefits, then VA home loans, then "am I eligible". Local VA lenders can also help you determine your eligibility.

 

The following articles provide useful information and are a great place to start if you're considering buying a home.

Advantages & Disadvantages of the VA GPM Program Protecting Your VA Loan Eligibility
Myths About VA Financing Why use a Realtor When Buying a Home?
How to Choose a Home FLORIDA HEROES Program
Take Charge When Buying a Home The Basics of Making an Offer

So whether you're buying or selling now or in the future, feel free to contact us and we will be happy to help you with all your real estate needs.

Don't forget to bookmark our website for continual use of the helpful information available.

 

 

 

 

 

 

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