Benefits Of VA Loans For Disabled Vets - PowerPoint PPT Presentation

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Benefits Of VA Loans For Disabled Vets

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Va Loans for Vets provides and assists all veterans and active duty military with ALL of their VA Home Loan Financing Needs. Be a proud homeowner today. For more details call us at 480-351-5904 or visit our site – PowerPoint PPT presentation

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Title: Benefits Of VA Loans For Disabled Vets


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BENEFITS OF VA LOANS FOR DISABLED VETS
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Many Disabled Veterans are not well informed
about the potential benefits they are entitled to
when it comes VA home loan.
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A VA loan specialist will interview the Veteran
and determine what type of loan they are eligible
for.
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The specialist will explain to the veteran the
benefits that come with the type of the loan he
or she is eligible for.
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Most Veterans qualify for the VA Home Loan
Program and are even eligible up to 100
financing of loans up to 417,000.
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Loan limits on higher jumbo loans are available
and have small down payments. VA loans do not
have mortgage insurance.
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However, first-time users require an upfront,
financed, Funding Fee of 2.15.
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  • Disabled veterans are exempted from paying the
    funding fee.

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  • This is beneficial because the fee typically
    comes with the loan.
  • This means that your loan is already reduced.

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  • However, for first-time applicants, the fee is
    2.15 percent, which on a 150,000 loan is4,300.

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  • Borrowers who are not exempted from paying this
    fee can, however, ask the seller to give an
    upfront payment or pay later by putting it to the
    mortgage.

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During the purchase process, its very common for
VA borrowers to be in the process of receiving a
disability rating. Sometimes after the loan has
been closed is when they receive word.
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In this scenario, veterans can ask for a refund
if they receive the disability rating. But this
is eligible if the loan period is still open.
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It is impossible to ask retroactively for your
disability compensation. But when it arrives, you
can opt to pay down your mortgage with that lump
sum.
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VA loans have no prepayment penalties.
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Just like any other prospective borrower,
disabled veterans will not automatically be
eligible for the VA home loan.
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The disabled veterans need to follow the process
and meet a VA-approved lenders credit and
underwriting requirements.
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All in all the VA lenders require at least a 620
credit score to be eligible.
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Other requirements include a stable, and reliable
income is an added advantage.
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Not forgetting a balanced debt and income
equilibrium, it should be noted that it is very
important.
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Disabled veterans are also able to join the VAs
Specially Adapted Housing (SAH) grant program.
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It helps veterans in adapting to retrofits that
will help in their needs. The SAH grants can run
up to 5,000 and in some cases even 10,000.
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  • However, not all have the same borrowing
    situations.
  • It is of great importance to contact the VA for
    better clarification whether you are eligible for
    the SAH grant or not.

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  • Disabled veterans are exempted from property tax
    once they use their VA loan benefit to buying a
    new home. These tax exemptions can help a great
    deal.

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  • This exemption from property tax can help in
    reducing the costs and amount of money used in
    taxes yearly.
  • However, this law is different in states, so it
    is good to check with your local VA.

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  • Jimmy Vercellino, VA Loan Specialist helps
    veterans obtain the loans they are entitled to.

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  • He served in the United States Marine Corps, and
    now devotes himself to the Veteran home buyer in
    the Phoenix area

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  • fulfilling a passion of his while at the same
    time helping others achieve home ownership.

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  • Be a proud homeowner today. For more details call
  • 480-351-5904 or visit the site http//www.valoansf
    orvets.com/

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VA LOANS FOR VETS 7702 E. Doubletree Ranch Road,
Suite 220 Scottsdale, AZ 85258 Phone (480)
351-5904 Email jimmyv_at_fcbmtg.com
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