Maine VA Loans
Veterans who are considering relocating to Maine should look into getting a VA Loan to purchase their new house. The VA Loan Guaranty Program has helped millions of veterans and their families become first time homeowners since it began in 1944. The VA’s goal was to make homeownership a reality for its veterans by making the loan process much simpler and more affordable than conventional loans.
Who Qualifies?
In order to qualify for a VA Loan, you must have served a minimum of 181 days of regular active-duty service. Veterans who served overseas in wartime during WWII, Korea or Vietnam are qualified if they served 90 days and were honorably discharged. All other ex-military must have served 181 days and been discharged under honorable circumstances. Some exceptions to the rules include widows of veterans killed in combat, spouses of veterans who are missing in action or a POW, veterans discharged early for service-related injuries, etc. Be sure to look into all the exceptions to see if you qualify.
What are the Benefits?
The first, most notable benefit of a VA Loan is no down payment is required to purchase a house. You also won’t be required to purchase private monthly mortgage insurance, making your monthly payments substantially lower. The other benefits include: competitive interest rates, high loan limits, flexible repayment plans, easy approval process and streamlined refinancing. Plus, when you get a VA Loan you have the support of the VA if you ever have questions or trouble making payments.
The benefits of VA Loans are seemingly limitless. If you are a qualified Maine veteran, you can’t go wrong with a VA Loan. Whether you are looking to move off base for the first time, build your dream house or relocate your family, with a VA Loan you will be able to afford the house of your dreams.
Find Out What You Qualify For
Want to find out how much you qualify for? It’s never been easier. Just fill out our secure 1-minute quote request form and you can get a rate quote today.
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