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Top 10 Veteran Loan Myths and Facts
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Top 10 Veteran Loan Myths and Facts
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Top 10 Veteran Loan Myths and Facts
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

February 4, 2011 (Chris Moore)
mortgage-saluting-soldier-image
As a military veteran, you’ve earned and deserve this benefit of military service. VA mortgage loans are the last traditional mortgage loan program to offer 100% financing and refinancing on mortgages and have the most flexible credit guidelines available. But even though the program has amazing things to offer, many veterans are unaware of the full magnitude of their benefit. This sad fact can be explained when you think about how much the VA loan program has changed over the years.

The VA mortgage loan doesn’t have to be difficult to understand, and every American veteran should be able to easily understand the benefits of this loan. In an attempt to change the fact that a great benefit to our service men and women is misunderstood and underutilized, here’s an effort to debunk the top 10 myths of the VA loan:

Myth #1: Veterans only have one chance to use their VA home loan benefit.
FACT: Veterans can use their benefit multiple times throughout their life. Actually, there’s no limit!

Myth #2: VA mortgage loans can only be used to buy a house.
Fact: VA mortgage loans can be used to refinance too – up to 100% of the home’s value in some cases!

Myth #3: VA mortgage loans are small and only ideal for starter homes.
FACT: VA mortgage loans are widely available up to $1,000,000 depending on region.

Myth #4: VA mortgage loans take too long to process and close.
Fact: VA mortgage loans can close just as quickly as conventional loans do.

Myth #5: It’s too difficult to qualify for a government program.
FACT: VA mortgage loans can actually be EASIER to qualify for. Numerous underwriting accommodations are made for veterans buying or refinancing a home with a VA loan and they’re insured by the federal government.

Myth #6: VA mortgage loans are too expensive with the upfront Funding Fee.
FACT: Actually, when you do the math, a VA loan is often cheaper than FHA and Conventional loans! No upfront mortgage insurance fees and no PMI!

Myth #7: Vets have to be discharged or retired to use their VA loan benefit.
FACT: Active service members get full access to the VA mortgage benefit too!

Myth #8: Members of the Reserves or National Guard are not eligible.
FACT: Members of the Reserves or National Guard are eligible too after 6 years of honorable service!

Myth #9: Vets who are serving away from home or overseas can’t get a loan until they can return to occupy the property.
FACT: Military men and women who are away on active duty can obtain a VA loan if they intend to return home within a year or have a spouse who will occupy the property in the interim.

Myth #10: Widows or Widowers of Vets are not eligible for the VA loan benefit.
FACT: Widows of fallen veterans who died on active duty or as a result of a service-connected disability are eligible for the benefits of a VA loan.

VA loans are an excellent way for veterans to purchase a home or refinance. If you’re a veteran, contact a mortgage lender to find out how much you could save with a VA loan.

Or if you’d like to learn more about the benefits you deserve, click here.

Tags: VA, veterans loans, VA mortgage lenders, military service, army, air, force, navy, marines, veterans

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

February 4, 2011 (Chris Moore)
mortgage-saluting-soldier-image
As a military veteran, you’ve earned and deserve this benefit of military service. VA mortgage loans are the last traditional mortgage loan program to offer 100% financing and refinancing on mortgages and have the most flexible credit guidelines available. But even though the program has amazing things to offer, many veterans are unaware of the full magnitude of their benefit. This sad fact can be explained when you think about how much the VA loan program has changed over the years.

The VA mortgage loan doesn’t have to be difficult to understand, and every American veteran should be able to easily understand the benefits of this loan. In an attempt to change the fact that a great benefit to our service men and women is misunderstood and underutilized, here’s an effort to debunk the top 10 myths of the VA loan:

Myth #1: Veterans only have one chance to use their VA home loan benefit.
FACT: Veterans can use their benefit multiple times throughout their life. Actually, there’s no limit!

Myth #2: VA mortgage loans can only be used to buy a house.
Fact: VA mortgage loans can be used to refinance too – up to 100% of the home’s value in some cases!

Myth #3: VA mortgage loans are small and only ideal for starter homes.
FACT: VA mortgage loans are widely available up to $1,000,000 depending on region.

Myth #4: VA mortgage loans take too long to process and close.
Fact: VA mortgage loans can close just as quickly as conventional loans do.

Myth #5: It’s too difficult to qualify for a government program.
FACT: VA mortgage loans can actually be EASIER to qualify for. Numerous underwriting accommodations are made for veterans buying or refinancing a home with a VA loan and they’re insured by the federal government.

Myth #6: VA mortgage loans are too expensive with the upfront Funding Fee.
FACT: Actually, when you do the math, a VA loan is often cheaper than FHA and Conventional loans! No upfront mortgage insurance fees and no PMI!

Myth #7: Vets have to be discharged or retired to use their VA loan benefit.
FACT: Active service members get full access to the VA mortgage benefit too!

Myth #8: Members of the Reserves or National Guard are not eligible.
FACT: Members of the Reserves or National Guard are eligible too after 6 years of honorable service!

Myth #9: Vets who are serving away from home or overseas can’t get a loan until they can return to occupy the property.
FACT: Military men and women who are away on active duty can obtain a VA loan if they intend to return home within a year or have a spouse who will occupy the property in the interim.

Myth #10: Widows or Widowers of Vets are not eligible for the VA loan benefit.
FACT: Widows of fallen veterans who died on active duty or as a result of a service-connected disability are eligible for the benefits of a VA loan.

VA loans are an excellent way for veterans to purchase a home or refinance. If you’re a veteran, contact a mortgage lender to find out how much you could save with a VA loan.

Or if you’d like to learn more about the benefits you deserve, click here.

Tags: VA, veterans loans, VA mortgage lenders, military service, army, air, force, navy, marines, veterans

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

February 4, 2011 (Chris Moore)
mortgage-saluting-soldier-image
As a military veteran, you’ve earned and deserve this benefit of military service. VA mortgage loans are the last traditional mortgage loan program to offer 100% financing and refinancing on mortgages and have the most flexible credit guidelines available. But even though the program has amazing things to offer, many veterans are unaware of the full magnitude of their benefit. This sad fact can be explained when you think about how much the VA loan program has changed over the years.

The VA mortgage loan doesn’t have to be difficult to understand, and every American veteran should be able to easily understand the benefits of this loan. In an attempt to change the fact that a great benefit to our service men and women is misunderstood and underutilized, here’s an effort to debunk the top 10 myths of the VA loan:

Myth #1: Veterans only have one chance to use their VA home loan benefit.
FACT: Veterans can use their benefit multiple times throughout their life. Actually, there’s no limit!

Myth #2: VA mortgage loans can only be used to buy a house.
Fact: VA mortgage loans can be used to refinance too – up to 100% of the home’s value in some cases!

Myth #3: VA mortgage loans are small and only ideal for starter homes.
FACT: VA mortgage loans are widely available up to $1,000,000 depending on region.

Myth #4: VA mortgage loans take too long to process and close.
Fact: VA mortgage loans can close just as quickly as conventional loans do.

Myth #5: It’s too difficult to qualify for a government program.
FACT: VA mortgage loans can actually be EASIER to qualify for. Numerous underwriting accommodations are made for veterans buying or refinancing a home with a VA loan and they’re insured by the federal government.

Myth #6: VA mortgage loans are too expensive with the upfront Funding Fee.
FACT: Actually, when you do the math, a VA loan is often cheaper than FHA and Conventional loans! No upfront mortgage insurance fees and no PMI!

Myth #7: Vets have to be discharged or retired to use their VA loan benefit.
FACT: Active service members get full access to the VA mortgage benefit too!

Myth #8: Members of the Reserves or National Guard are not eligible.
FACT: Members of the Reserves or National Guard are eligible too after 6 years of honorable service!

Myth #9: Vets who are serving away from home or overseas can’t get a loan until they can return to occupy the property.
FACT: Military men and women who are away on active duty can obtain a VA loan if they intend to return home within a year or have a spouse who will occupy the property in the interim.

Myth #10: Widows or Widowers of Vets are not eligible for the VA loan benefit.
FACT: Widows of fallen veterans who died on active duty or as a result of a service-connected disability are eligible for the benefits of a VA loan.

VA loans are an excellent way for veterans to purchase a home or refinance. If you’re a veteran, contact a mortgage lender to find out how much you could save with a VA loan.

Or if you’d like to learn more about the benefits you deserve, click here.

Tags: VA, veterans loans, VA mortgage lenders, military service, army, air, force, navy, marines, veterans

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.