Did you know that over 60 million Americans and thousands of Utah residents qualify for benefits from the VA, but few manage to take advantage of those benefits that they are entitled to? A Utah Veteran loan (VA Loan) offers a variety of financial benefits for any individual who qualifies. This type of loan can help you purchase a more expensive home, save lots of money on mortgage insurance, and can help you get the lowest interest rate possible.
Benefits of a Veteran Loan
- No down payment necessary
- Guaranty amount as much as $729,750
Are you eligible?
- Must have served on active duty in the military and have a discharge other than dishonorable after a minimum of 90 days of service during war time or 181 continuous days of peacetime
- Two year requirement if the veteran enlisted began service after September 7, 1980 or was an officer and began service after October 16, 1981
- Six year requirement for anyone in the National Guard and reservists
- There are also special rules concerning the eligibility of surviving spouses
VA loans are guaranteed loans that are issued to veterans by private lenders such as banks or mortgage companies. When obtaining a Veteran loan, it must be for the purchase of a home for personal occupancy. The reason these loans are guaranteed is because it provides protection for the lender if the owner fails to repay the loan. It doesn’t matter if you are disabled, perfectly healthy, on the front line of war or in administration, you can get your affairs in order and qualify for a Veteran loan!
Seriously, if you live in the state of Utah and qualify for a Utah Veteran loan you need to contact us now before home prices start to climb even more.
Click here if you are ready to take advantage of your VA benefits!
