Settling in one place might involve buying a house of one’s own – a hard job to do in the after-crisis. The mortgage companies are no more willing to promptly service your house credit, and alternatives are hard to find, unless money saving. Actually, if you are ready to enlist in the military, joining their ranks may bring you certain advantages – among them being the possibility of a VA Mortgage Loan.
For military personnel only, the purpose of it is to allow an easier home financing for soldiers, so that they may purchase what is termed as “primary residence”, so there is no financing if they want to do real-estate investments. But VA Home Loans have a broader range of targets: they can be used to buy not only an apartment or a house, but also a farm residence. And if a soldier already in possession of a home wants to make some alterations, rebuilding or renovating it, this can be done as well.
Expanded in order to include as many people as possible, the VA Loan Eligibility is granted even for spouses of the soldiers killed in the line of duty, or as a consequence of being disabled and dying latter on. Three months in war time and six months in peace time are needed as minimum service period for qualifying for a VA Mortgage Loan in case you are in active duty, and at least six years if you are a member of National Guard or Reservist (in which case the funding fees will exceed a bit the 3.3%). Veterans – the initial beneficiaries of VA Loans – are free from paying it, in case of full disability.