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