It's Veteran's Day. It's a day to both remember and a day to be thankful. We should take time to remember the young (and some not-so-young) men and women who made the decision to serve. Serving in the military is not easy. Those who make the decision to serve do so knowing that they'll encounter a great deal of mental and physical stress. Most of the time, their service demands separation from family and friends. Most of the time, their service demands that they master new skills. Most of the time, their service demands that they place their lives in jeapordy; willingly. We should be thankful for those who have served and who do serve. It's not easy.
We should also take time today to say a prayer of thanksgiving for those who made the decision to serve, and paid "the ultimate price" for that service. Remember those who did not come home to their family and friends. Remember their families. They died that we may enjoy the freedoms and liberties we have.
I don't often have guest bloggers on here....not sure why.....today's an exception. Kevin Pearia, who blogs at VAbenefitblog.com, has written an information article that is particularly important on Veteran's Day. Here it is:
VA Home Loans for Veterans Day
Service members should own a home in the country they protect. There’s no better time of the year to make use of the VA loan.
With Veterans Day comes a feeling of appreciation. Restaurants, stores, medical offices and other businesses offer deals and discounts. Civilians volunteer and participate in the festivals and memorials of Veterans Day. Local VA offices encourage the promotion of newer and existing veteran benefits such as the VA loan.
The VA Loan
Many veterans do not know about the VA loan. However, its popularity grows every year. In the past four years, home purchasing in the veteran community rose 63 percent, according to the VA in a Nov. 1 press release.
“Home ownership is one of the foundations of the American dream,” Secretary of Veterans Affairs Eric K. Shinseki said in the press release. “VA is honored to administer a benefit that for two-thirds of a century has profoundly affected the lives of our Veterans, our military service members and their families.”
There is no better time than now to purchase a home. The VA loan program booms with excellent benefits. The housing market offers super-low mortgage rates. Foreclosure and “serious delinquency rates” were the lowest in the “housing industry” for the “last six quarters,” according to the Mortgage Bankers Association’s National Delinquency Survey.
The VA loan is one of the last no down payment programs in existence. Buying a home becomes a tangible reality for active duty and veteran service members due to low mortgage and interest rates.
Eligible members can save up to $300 more every month with the VA loan, as opposed to traditional loans. Why?
•No monthly private mortgage insurance payments
•A stress-free process
•Less stringent credit and income standards than conventional loans
•No prepayment penalties
•Various options such as interest-rate-reduction loans
•A buyer can obtain a loan up to $417,000
Most veterans, active duty military members, Reservists and National Guard members are eligible for a VA loan. Surviving spouses may also be able to apply. Anyone with a dishonorable discharge will not be considered for the loan.
Beginning the Process
It seems scary to start the home buying process. However, veterans need not fear. “During the past decade, VA loan specialists have helped more than 150,000 families hold onto their homes,” the VA press release said.
VA loan specialists guide first time and seasoned veteran home buyers through the process. They find useful avenues that help home buyers to make realistic, affordable and desired decisions.