VA LOANS: WHAT MAKES IT EXCEPTIONAL? Business & Marketing Essay (Essay Sample)
GENERAL DESCRIPTION OF VA LOANS AND THEIR ADVANTAGES.
source..VA LOANS: WHAT MAKES IT EXCEPTIONAL?
Owning a permanent home in the US is always every individual’s desire. However, achieving this goal via mortgage programs comes with years of sacrifice and commitment as you strive to cope with prolonged monthly deductions. To ensure that its servicepersons are is counted amongst the homeowners, the US government’s Department of Veteran Affairs offers VA mortgage loans to individuals who serve in various categories. This loan has unique terms compared to other conventional loans provided by the other bunch of home lenders in the real estate industry. Let’s jump straight into the breaker:
Eligibility
Up to 1992, this program only benefited those who served actively on duty, for a specified period of time. Through the Veterans Home Loan Program Amendments, the VA loan was beneficiaries was adjusted to include: U.S Military cadets, U.S Navy midshipmen, National Guard members, National Oceanic & Atmospheric Administration officers, Reservists and surviving spouses who haven’t remarried. One has to meet the minimum service period requirements to qualify for this loan.
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