What to Look For In VA Loan Lenders
There is no question that some of the bravest people in the great country of the United States are also, unfortunately, one of the most poorly treated and underappreciated group of people in the country. For many courageous people who sign up to serve and protect the United States, life can be incredibly difficult when they return home from war. Not only must they adjust to the mental aspect of life after the war, they must also deal all of the financial issues that come along with returning home.
Many veterans will return home and will deal with mental issues such as Post Traumatic Stress Disorder and other crippling mental anxieties. After facing the horror of war and combat, a lot of veterans have a difficult time leaving that world behind and coming back the safety of their home. They wrestle with their past and often do not receive the proper therapeutic help that they deserve.
Not only will veterans face the mental difficulties with coming home, many of them have a hard time fitting into the economy. Many veterans have a difficult time finding a well-paying job on top of even having a place to stay. Some veterans even end up homeless, which is horrific to think about.
This is where VA home loan lenders near me come into play. If you are a veteran, then you should be invested in finding VA home loan lenders near me. So far, 22 million veterans have been able to get home ownership through the VA home loan program which is absolutely wonderful. Here are the facts you need to know about VA home loan lenders near me.
VA home loan lenders near me offer loans that do not require mortgage insurance and also allow for 100% financing. This helps veterans by giving them a chance to start out with some help so that they do not get overwhelmed while payments pile up. To qualify for a VA loan, a veteran must have served 181 days during a period of peace, 90 days during war time, or even six years in the National Guard or the Reserves. A widow of a service member killed in the line of duty is also able to qualify.
In 2016 in Texas, veterans received a total of 58,774 home loans, which is great for the veterans living there as they try to adapt to being back home. In the state of Texas alone, there are over 1.5 million veterans and the median income for veterans there is $40,226.
Mortgage rates that are currently offered by VA home loan lenders near me are currently as much as 50 basis points lower than those available for conventional mortgage loans. In 2015, a total of 187,307 home loans were given to veterans who had previously owned a home. In contrast, in that same year, a number of 134,808 home loans were given to veterans who were not first-time homebuyers. The following year of 2016 featured 707,107 home loans guaranteed by VA home loan lenders near me across the nation.
In conclusion, if you or someone you know is a veteran coming home from the war make sure they find VA home loan lenders near me. The people who put their lives on the line to help protect this country deserve the best life upon returning home. They were brave enough to risk death and impairment in order to protect the civil liberties and freedom that you enjoy every day. It is important that this country can help take care of these people while also giving back to them.