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War Veterans Loans
The US government has long had programs to enable war veterans to buy homes.
These were particularly evident after the second world war where soldiers coming
back from duty overseas had little money to be able to buy a home. Their bravery
and service for the country demands a special home
loan.
VA Home Loan Eligibility
Military Veterans with active duty service, who were not dishonorably discharged
during World War II and later periods are eligible for VA loan benefits. These
duty periods include WWII, Korean conflict, and Vietnam era veterans must have
at least 90 days service. Veterans with service only during peacetime periods
and active duty military personnel must have had more than 180 days active duty
service. Those who served during the Persian Gulf conflict and those National
Guard members who were activated on or after August 2, 1990, and who served at
least 90 days with an honorable discharge are eligible.
To apply and get a VA Loan: you must apply for a Certificate of Eligibility
and order an appraisal. To get your mortgage, you must apply to a mortgage lender
for the actual home loans.
The veterans loan administration services provides a guarantee provision in
the New England states of Massachusetts, Connecticut, New York, New Hampshire,
Maine, Rhode Island, and Vermont. A guaranteed VA mortgage stipulates
that your lending institution is guaranteed a portion of your original loan amount
should a foreclosure or an alternative to foreclosure occur.
If you’d like to convert your current VA home loan to a GNA investment
mortgage, please contact one of our home loan specialists to discuss possibilities.
We specialize in Massachusetts home mortgages
and New Hampshire home mortgages.
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