Eligible veterans and other homebuyers who were able to obtain a Certificate of Eligibility or COE may start using their VA home loan benefits, especially this year that they can apply for a higher loan amount to buy their dream home. Without the need of putting a down payment and with no mortgage insurance requirements are, by far, the most significant advantages of taking out a VA loan to buy a home. The U.S. Department of Veterans Affairs (VA), however, requires veterans to pay a funding fee.
Losing one’s home through a foreclosure is a frustrating experience for any homeowner. Financially troubled homeowners, especially veterans, are often vulnerable to mortgage fraud schemes that could further increase the risk of losing their homes. It’s important for veterans to know that there are several options available for them if they’re threatened with foreclosure.
Eligible veterans planning to buy a home next year may take advantage of an expanded Veterans Affairs program that may allow them to fulfill their ultimate dream home. This could be a great chance for deserving veterans and their spouses to secure a comfortable lifestyle after serving the country. However, what they may not realize are the fees associated if they wish to avail of the VA Home Loan Guaranty benefit.