One of the biggest benefits offered to Veterans is the VA Loan program, and rightfully so. They served our country so they should be offered special incentives to fulfill the American dream of homeownership.
VA Loans offer no money down on purchase or refinance loans to active duty military members and military veterans. If veterans are looking to purchase a new home – or want to save money by refinancing an existing loan – this is a good program to consider.
Data shows that veterans have a high rate of homeownership when compared to other segments of the U.S. population. In fact, veteran homeownership rates hover around 80 percent, while the general population is around 64 percent. It is estimated that there are over 26,000 veterans in Seattle.
VA Loans can potentially help Veterans: buy a home with no money down; refinance an existing home to help save money; possibly save thousands of dollars with a lower interest rate; qualify for a loan without mortgage insurance; and get approved for a mortgage with easier qualification guidelines.
To qualify for a VA Loan, you must fall into one of the following categories:
- Current active duty military member
- Reservist
- Member of the National Guard
- Military Veteran with an honorable discharge
- Surviving spouse who has not remarried
VA Loans can be used for either a home purchase or refinance.
At TILA Mortgage, we believe our military members deserve great service. We are committed to helping them use their eligibility for a VA Loan. So to all of the Veterans in the Seattle region, we would love to chat with you more about this, and thank you personally for your service!*
For more information, click here.
*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of Hometown Lenders, Inc.