VA Loans and Homes for Heroes help veterans with mortgages

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Looking for mortgage deals? If you’re eligible for a VA loan, make sure to look into Homes for Heroes! Photo source.

Are you like my family and have a pile of coupons or ads displaying the best ‘deals’ of Christmas sitting to the side of your desk, waiting for you to redeem them as you Christmas shop? Whether it’s the $10 Kohl’s cash or the BOGO coupon for new shoes, most of us want a deal this holiday season… and beyond. We love to save money and to spend less.

Looking for a deal on mortgages and home loans

I meet many who are hoping for a ‘deal’ when it comes to home loans and mortgages. For those who are eligible for a VA loan, there may be even more benefits and advantages than the loan in itself. Sure, VA loans bring huge benefits – no down payment, no PMI, competitive rates and more. But there’s another program that we participate in that gives our veterans an even bigger advantage when it comes to buying a house with the VA loan –  the Homes for Heroes program.

What is the Homes for Heroes program?

The Homes for Heroes program was started after 9/11 by a real estate group who watched public service men and women sacrifice their lives and safety for others. They recognized the opportunity to assist those who work in public service with buying a house. Many times there’s no way to get something cheaper when it comes to real estate transactions. This non-profit, however, began Homes for Heroes and negotiated with real estate agents and other housing professionals (like me, a VA loan expert), to join in with the program and do something to honor those who give back.

How does the Homes for Heroes work?

The Homes for Heroes program has affiliates who offer their services at discounted rates. It is open to: ” teachers, firefighters, public safety officers, health care workers, military personnel, and others who provide quality services to the public every day.” The promise of the program is that there is no fine print, no red tape – nothing that is bait-and-switch and meant to “get you” in some way. It’s an honest program that’s designed to simply give back to hard-working people who sacrifice so much. As a mortgage lender in Kansas City, I’m honored to be involved.

How can I use my VA Loan and the Homes for Heroes program?

If you’re interested in the Homes for Heroes program, give me a call and I’ll let you know what steps to take to use both your VA loan and the Homes for Heroes program. Contact me at (816) 268-4025 or shoot me an email now.

VA Loans Unlimited Use

Some benefits may only be used once. You know this if you’ve used a Groupon recently. Coupons, certificates, favors – things that bring benefits often expire after redeemed one time. That’s not the case with a VA loans Unlimited Use benefit though. If you’ve served in the military and are eligible for a VA loan, your VA loan benefit will last you the rest of your life.

How many times can I use a VA loan?

VA Loan Unlimited Use

Drum roll please: Your VA Loan has unlimited use!

As long as you’re moving into a primary residence, you can use your VA loan each time you move. (So – if you’re buying rental property or a second home, you need to look into other home loan options.) This unlimited use of a VA loan is a huge benefit to our veterans – these loans often bring many benefits to those who use them. VA loans require ZERO down payment – something not common in home loans anymore. Plus, they are more lenient on credit requirements, they do not require mortgage insurance and the loans may often be locked into rates that compete with the best on the market. If you’re eligible for a VA loan because of your military time, don’t pass up this opportunity. Use it each time you move your primary residence. Oh – and VA loan refinancing is available, too.

Am I eligible for a VA Loan?

Many who have served in our Armed Forces are eligible for the VA loan benefit. You may either be currently serving or have received an honorable discharge. You may also redeem your loan benefit if you served many decades ago – the VA benefit never expires.

Check your VA loan eligibility to determine if you should head down this path.

Make sure you have your DD214 if you’re not currently on active duty.

Give me a call to help walk you through the process and get your VA loan started. I assist active and non-active military who qualify living in Arizona, Missouri, Kansas, Nebraska or Virginia.

Call the VA Loan Expert at (816) 268-4025 to find out more about your VA Loan Unlimited Use.

 

What is a DD214?

If you’ve begun looking into using your VA benefits to buy a house, you might be seeing a request for a DD214 form. If you have no clue about this form or don’t think you have one – don’t panic. Let us help guide you through. If you are no longer on active duty, this is a form you’ll need for your loan process. If you are currently serving on active duty – this doesn’t apply to you.

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A DD214 is given to veterans who are discharged or retire from the military.

What is a DD214 Form?

Your DD214 is given to you by the military (Department of Defense, to be exact) and discharges you from active duty. Officially, it’s called the DD Form 214 and is the Certificate of Release or Discharge from Active Duty. You receive this paperwork when you are discharged or retire from the military. You should receive what’s called a Member 4 copy. Make sure to hang on to this. Your DD214 verifies the time you spent in the service, any awards, promotions and honors you received, if you served overseas and any training or schools you completed as well. You need a DD214 form in order to have veteran’s benefits like a VA ceremony at a funeral and use of the GI bill, etc. You also need this form in order to buy a house with a VA loan if you are no longer on active duty.

What if I lost my DD214 Form?

You should have been given a copy of your DD214 upon discharge or retirement from the military. However it’s not uncommon for veterans to claim they did not receive a Member 4 copy or that they lost this paperwork. In the event you cannot locate your DD214 paperwork, you may obtain a Member 2 copy of your DD214, which is an identical copy of the Member 4. Public records do not keep the Member 4 copy on file but the Member 2 will have the information needed for your VA loan.

You may contact the National Personnel Records Center (NPRC) or the administrative offices of your military branch to obtain a copy of your DD214. While you may mail, fax or appear in person, the quicker route is to let us help you get the form through a third-party. We work with those who can obtain a copy of your DD214 faster than if you personally requested it yourself through the government.

Your DD214 and Using your VA Loan

Obtaining your DD214 is a key step in applying for your VA Loan. It shows us that you are indeed eligible for military benefits when purchasing a house. If you cannot locate your copy, we can help you and expedite the process if you meet all other VA loan eligibility requirements. If you’re in Arizona, Missouri, Kansas, Nebraska or Virginia, please give us a call at (816) 268-4025 and let us help you with your VA loan.