Have you ever had a VA loan? Do you know anyone who has a VA loan? If so, you’re probably aware of the bragging rights tied to the benefits of VA loans. These loans, which are guaranteed by the Department of Veterans Affairs (VA) were made available in 1944 as part of the Servicemen’s Readjustment Act geared to provide housing benefits for those serving active duty. The benefits have changed over the years to include more options and increased eligibility opportunities. These are wonderful loans, and they should be as it’s a very small token of appreciation for those that serve our country.
As we prepare to celebrate Veteran’s Day this Friday, let’s take a look at this important benefit.
First, let’s discuss who is eligible. Here’s a quick list:
Secondly, let’s discuss the benefits. Here’s a quick list:
As you can see, the benefits are tremendous which is totally awesome and well deserved. Unfortunately, most eligible borrowers think they need to go to some big bank or to a lending company that heavily advertises itself as a “VA certified” lender. Some of these companies even put the word “Veteran” in their names to promote these loans. The problem with this is that these banks know how popular these VA loans are becoming so they are advertising like crazy, which just drives up the costs and results in reducing the impact of the deserved benefits.
Our firm is a small and powerful lending team with more than 50 years of combined VA loan experience, but we don’t advertise like crazy that we do them. Maybe we should. However, we don’t because we want VA borrowers to receive the full benefit of the loan program. Our VA loans are typically about $1,500 lower in costs and .25 percent lower in rates than our big bank competitors.
Additionally, our team is highly trained. All of them. You don’t get that with bigger places. Bigger places don’t like to pay for talent and often have high turnover. But our small, local company is made up of dedicated professionals who are probably your friends and neighbors. We’re only as good as our people, and our client base deserves to be represented by true industry experts. So, while we don’t advertise like crazy about VA loans, be assured that we do them more efficiently with lower rates and costs than anyone else.
If you are a veteran, please reach out for your free consultation. And from all of us at Fountain Mortgage, Happy Veterans Day and thank you for your service.
This weekly Sponsored Column is written by Fountain Mortgage. Located in Prairie Village, Fountain Mortgage is dedicated to educating, and thus empowering, clients to make the best financial decision possible for their situation. Contact Fountain today.
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