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VA loans= No Down Payment…. but what other benefits are available to service members?

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Most of us know that VA loans allow military personnel to purchase a home with Zero Down Payment.

But did you know that any veteran that is receiving any amount of disability payment from VA is exempt from the VA funding fee?  

 

The following persons are exempt from paying the funding fee:

·   Veterans receiving VA compensation for service-connected disabilities.

·   Veterans who would be entitled to receive compensation for service-connected disabilities if they did not receive retirement pay.

·   Veterans who are rated by VA as eligible to receive compensation as a result of pre-discharge disability examination and rating.

·   Veterans entitled to receive compensation, but who are not presently in receipt because they are on active duty.

 

Surviving spouses of veterans who died in service or from service-connected disabilities (whether or not such surviving spouses are veterans with their own entitlement and whether or not they are using their own entitlement on the loan).

Also, service members who served at least 90 days of overseas duty between December 31, 2008 and May 1, 2010 are eligible to receive the Federal Tax Credit of $8000 for First Time Home Buyers and $6500 for repeat buyers!  You must have a valid purchase contract by April 30, 2011 and close by June 30, 2011.

Don’t pass up the opportunity to benefit from the money and discounts being offered to you!

VA Loans San Diego 

Contact me for a FREE consultation.  I can always be reached via Email, Text and of course, good old fashion phone call!

 

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