Told My Dad He Needed To Take Advantage of VA Loans
My Dad served in the U.S. Army as a medevac helicopter pilot for over 12 years, and in so doing qualifies for VA Loans.Just what exactly are these special loans? Wikipedia has a great answer. In a nutshell, the Veteran's Administration provides assistance to veterans of the United States Armed Forces by partially guaranteeing loans to veterans with low or zero down payments.
If you have a family member who has served in one of our country's armed service branches you should encourage they do a little research to see if they qualify.
For example, you or your loved one could qualify for a VA loan in any one of the following scenarios:
1. Currently on active duty for at least 180 days
2. Provided 90 days of war service
3. Provided 180 days of peacetime service before the 1980's, or
4. 24 months of continuons service after the 1980's, or
5. 6 years in the Reserves or Guard, or
6. Is the suriving (cannot be remarried) spouse of a a service member who died on active duty due to a service related disability
This is a great program for vets, allowing them to qualify for a home with no down payment and lower monthly mortage payments thanks to reduced interest rates.
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