With the lending markets limiting their risk, 100% loans are scarce these days (Fall 2008).  With that, it is important to make sure your Realtor and Lender know that you are a VETERAN when considering purchasing a home, or applying for a loan.  There are many benefits to using your VA loan, the number one reason is 0% down.  The 100% loan is a rarity these days, but our government still makes it possible for our US Veterans!  Take advantage of this, and consider buying your first house if you are currently renting.  Check out the  eligibility guidelines below, you may qualify and not even know it!

Did you know that VA loans can make homeownership possible for some 70 million people? That’s how many are potentially eligible a huge opportunity! Plus, they provide financing up to $999,999 dependent on the guarantee amount for each qualified buyer.  Although VA loans were created to help U.S. veterans, there’s a wide range of individuals who are eligible for VA loans, including:

• Active duty personnel
• Personnel with previous qualifying military service
• Reservists, National Guard and Coast Guard personnel with qualifying service
• Unmarried surviving spouse of a veteran killed as a result of service-related activities
• Those honorably discharged
• Plus, these loans may be extended to Public Health Service Officers, cadets/midshipmen in the Army, Navy, Air Force and Coast Guard Academy

Visit the VA’s site to learn more about the home loan and frequently asked questions.

Related...

• January 22, 2010 -- Breaking News: FHA Announces Changes to Address Risk
• April 13, 2009 -- FHA Mortgage and Refinancing to become more difficult
• December 30, 2008 -- More Info for Rate Watchers
• December 20, 2008 -- A Time to Refinance??