UNION CITY, NJ — According to the Department of Veterans Affairs, more than 22 million veterans and servicemembers are eligible for VA home loan benefits. This number is expected to rise with more veterans integrating back into society.
VA Home Loans have a different set of standards than conventional loans because the program is suited to the unique needs of veterans and servicemembers. Further, the program offers substantial benefits to veterans such as no down-payment and no private mortgage insurance payments (PMI). “In today’s economy with interest rates and housing prices at historic lows the VA Loan Program offers significant value to those serving or have served”, says Grant Moon a Veteran of Operation Iraqi Freedom and President of VA Loan Captain, Inc.
A newly released infographic produced by VA Loan Captain ( http://www.valoancaptain.com ), indicated that over 66% of veterans who ever had a home loan reported that they used the VA Home Loan Guarantee Program. Conversely, the 33% of veterans who did not use the VA Home Loan Guarantee Program reported that they were not aware of the program.
Research shows that 61.4% of those eligible understand their VA benefits and services “a lot” or “some,” and 80.2% send/receive emails on a regular basis to receive VA information through the Internet. Of those who have used the program, 83.9% of veterans are between the ages of 25-54 years old with 82.7% being males. Women veterans reported a greater understanding and awareness of VA loans and services with 38.7% as compared to 35.4% of all veterans.
A VA Loan is a mortgage guaranteed by the US Department of Veterans Affairs. The loan may be issued by qualified lenders. The VA Loan is designed to offer long-term financing to eligible veterans or their surviving spouses that have not remarried. The intention of the VA Home Loan Program is to provide a financial benefit for those that have served our Country in the Armed Forces. By producing this infographic, VA Loan Captain aims to educate veterans and servicemembers on VA Loans and assist those seeking to use their VA Home Loan Benefits with VA Approved Lenders at competitive interest rates.
VA Loan Captain, Inc. ( http://www.valoancaptain.com ) is a Service Disabled Veteran Owned Small Business (SDVOSB) that educates fellow veterans and servicemembers on VA Loan Benefits. They are committed to getting applicants a competitive interest rate with best in class service through their network of approved VA Lenders that share their vision. As a company with purpose beyond profits $200 is donated to a partner veteran charity for every loan closed.
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