$3,179.11 P&I - 800 Score - Disabled Veteran - $500,000 Purchase Price
The Loan Guaranty Program was originally part of a national effort to move from a wartime economy to a peacetime economy and to avoid the economic recession historically associated with postwar periods. The program was one of the innovations advanced by the Servicemen’s Readjustment Act of 1944 (PL 78- 346), known as the GI Bill of Rights. By providing loan guaranties, the government could aid Veterans in their efforts to readjust to civilian life.
There are two types of guaranteed loans: purchase and refinance. A purchase loan is used to obtain a home. The other loan type is a refinance, and there are two kinds of refinance loans: interest rate reduction and other refinance (i.e., cash-out refinancing). Interest rate reduction is typically the most common reason for refinancing a loan, however in FY 2022, cash-out refinancing was the most common reason.
The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service to the Nation.
Current Benefits
VA home loans may be used to:
• Purchase a home;
• Purchase a residential unit in certain condominium projects;
• Build a home;
• Refinance an existing home loan; or
• Improve a home by installing solar heating or other energy conservation measures.
Contact Information
Gordon Goosen
Mortgage Loan Originator
US Army (R)
480-320-2322 x100
gordon@pilotmtg.com
