| VA Mortgage |
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| Written by Top Ten List | |
| Friday, 26 March 2010 | |
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Basically, my dad has been facilitating his mortgage for the past three decades now, and I can say that he did a pretty good job in repaying the loan, as he has never missed a single payment. And based on his current financial standings, it seems that he will soon finish repaying the mortgage. However, my dad’s friend was not as lucky as he is. In fact, my dad’s friend was a war veteran and he spent all his life in the army. Sadly, he purchased his new home at a much later age, and he is still facilitating the mortgage. On the other hand, my dad’s friend approached him just last week, whereby he needed some advice about his mortgage. Basically, he was badly affected by the previous economic downturn, and he is finding a hard time repaying his debts. Well my dad is not a loan expert, and this is where he asked me for my help to search for viable alternatives which might be suitable for his friend. Being a tech guy all my life, I surf the internet hoping to find a good solution for my dad’s friend. According to a web resource, it seems that my dad’s friend is eligible for something called the VA Mortgage. Basically, the VA loan is designed for military veterans, whereby the loan promises low payments, easy credit guidelines, and 100% financing. On the other hand, the VA Loans are perfect for first time home buyers, whereby the loan provides several advantages, such as no down payment, very low mortgage rates, and no mortgage insurance required, which leaves you more money for the month to spend for your monthly expenses. And as for my dad’s friend, I believe that he might be interested on the VA Loan Refinance, whereby the refinancing option can help him consolidate his debts, while lowering the interest rates for his existing mortgage. Comments (0)
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