Veterans of the military are entitled to a variety of well-deserved benefits. Realtor® Dave diCecco of Charlotte, North Carolina shares his experience of working with veterans and advising them of potential real estate opportunities:
Today I had the opportunity to talk to a young buying couple about the possibility of owning their first home. We talked and had discussed some options available to them. One of the things we talked about was financing. Which lead me to the question: ”have you ever served in the military for our country?”
Being a military veteran myself I realize that one of the greatest benefits I received when I got out was to be able to purchase a home through the Veterans Administration (or more commonly known as the VA) with no money down. Yes, a benefit our servicemen and women receive for serving our country is that the government will guarantee the loan with no money down.
You still have to qualify for the mortgage as you would any other program. In addition, the debt to income ratios still have to be in line for the house you want to buy. However; if you can qualify for a mortgage and are a veteran of a military branch honorably discharged you may qualify for a VA mortgage.
Unlike other programs that have restrictions on where you can buy and what type of house you can purchase the VA does not care. If the house qualifies for a mortgage and passes the inspection and appraisal process with approved credit they will loan you the money.
I closed one recently where we got the seller to pay closing costs and the buyer had to come to the table with $13.00 to close. Yes, that is not a misprint a total of $13.00 and he owned a house (with the bank).
if you are looking to buy a house and are a veteran of the military you have served your country and this is just one way the government helps us out.
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