Read the story here. Advertise at Before It's News here.
Profile image
By Credit&MoneyBasics
Contributor profile | More stories
Story Views
Last Hour:
Last 24 Hours:

Choosing Home Loan for Veterans

% of readers think this story is Fact. Add your two cents.

Choosing Home Loan for Veterans
Choosing the best home comes with a lot of critical decisions to make. It is like selecting any other property that requires an in-depth assessment. A good home is like an asset, and when you choose the best assets, it comes with numerous financial benefits. Banks and financial institutions will be ready to finance the acquisition of viable homes. However, VA home loans have come a long way to ensuring veterans get the homes that they truly deserve.
Getting the money lent to you is one thing, but getting to prove to the lender that you really need the home is another. Before applying for this home loan, make sure you do the following things:
1. Have Organized Paperwork Ready
Every loan, not just a home loan, will be processed through substantial paperwork. It is essential that before deciding to approach the financial institution, you have all the paperwork ready. Time is critical, and it will save both parties in having the loan processed quickly.
If you have multiple bank accounts, the lender will have to look at six months’ credit statements of every account. If you are an employee, you may need past payslips or past annual tax returns if you are self-employed. The credit card limits and repayment history will also be scrutinized at this stage.
2. Approach Professionals
Getting a home loan involves facing so many issues and dynamics in the market, which may see you seeking the help of relevant professionals in terms of advice and valuations. Get a property valuator who will help you chose the best home as a fixed asset that will appreciate in value.
As for the paperwork, you shouldn’t go through processing anything without the knowledge of your attorney. The whole process will involve the signing of numerous documents that you will have legal obligations over. It is only prudent that you commit to something with prior knowledge of what it entails.
3. Have Credit Records on Check
As mentioned earlier on, among the things that help gauge your ability to service or repay the loan in arrears are your credit score. It involves the record of credit and history of payments in any financial institution that may have lent you.
It is important that you also clear from Metropol Credit Reference Bureau in any case you might have landed on the negative listing before. No lender will give you a loan when you have a negative listing.
4. Lower Your Credit Card Limits
Remember, when you have access to a higher credit limit, you are prone to numerous debts. That is something that will unlikely impress the lenders. This goes hand in hand with consolidating any other obligations and personal loans so that you keep it clean by the books.
The main reason for this is because you need to prove to the lenders that the loan will be paid in due time. Most veterans have higher credit limits than they actually need to finance their life. When getting a home loan, such limits are among the factors considered to check on whether the loaned can service the same.
5. Decide on the Best Interest to Choose
Getting an interest with a variable rate is the best thing to go for. Remember, you cannot anticipate the economic situations that are to come. A variable-rate will change from time to time, depending on the state’s cash flow and the economic situation.
However, there is an option for fixed-rate but will prove to be very expensive in the long run. Nevertheless, it may seem like gambling because when the economy is stable, the variable rate will likely shoot. Besides, most experts prefer variable rates to fixed rates.
6. Aim at an Affordable Option
Getting a home loan should not in any way affect your cost of living or way of life. It is advisable that you go for a home loan that does not only give you the opportunity to raise the monthly installments, but also facilitates a smooth life without straining.
7. Research Well on Home Loan Options
It is only wise that you go into in-depth research regarding the home loan options available. For you to reach a decision to get a home loan, it is something that you have wished to make happen by any means. This is a loan that can take up to years to clear; therefore, you have to go for something that gives you a run for your money.
8. Opt for a Flexible Repayment Tenure
The repayment tenure is the period that you will take to clear the loan balance. Remember the balance after the initial deposit is likely to be cleared in equal monthly installments. That means that the repayment tenure will go hand in hand with the monthly installments.
You will be looking at different options for repayment tenure and be given the opportunity to choose one. It is prudent to go for a shorter repayment tenure as the interests will be lower in this case. However, the shorter the repayment tenure, the higher the monthly installments will be. Either way, this is an affordable option in the long run because the interest rates will be capped.
9. Be on Top of Your Expectations
Regarding homes, you should not go for an option that falls short of your dreams. If you want a house with a garage and heated pool, then that is what you should go for, provided you can afford. It would be best if you looked at the prevailing rates to decide on the best time to go for that home.
10. Save for the Coming Expenses
Getting into a new house comes with so many expenses that you have to embrace in the long run. Many upfront costs come with acquiring a loan such as stamp fees and solicitor fees for the numerous consultations that you will be doing.
Buying and settling in a dream home is something worth taking out a loan. The peace that comes with living in your compound is immeasurable. However, it would be best if you make wiser decisions when doing that.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Join our affiliate program and earn extra money by sharing with friends and family or by posting on your social media.

Order by Phone at 888-809-8385 or online at

Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

APeX - Far superior to colloidal silver! Destroys Viruses, Bacteria, Pathogens with Oxygen plus Silver!

Supreme Fulvic - Nature's most important supplement! Vivid Dreams again!

Ultimate Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

FINAL WARNING!  Diseases are EXPLODING!  Watch this Video about APeX and You'll THROW AWAY Your Colloidal Silver!  APeX destroys Viruses, Bacteria and other Pathogens with the power of Oxygen PLUS Silver!  Nobody else has a product like THIS!   See why the inventor hasn't been sick in 16 years and why you'll never hear about it on the FAKE NEWS!  Get some now and tell your friends about it too so we can reach more people!  

APeX Interview - Superior to Colloidal Silver from Lee Canady on Vimeo.

Learn about APeX Here and Get the 50 Page Report in PDF format.   Call us at 888-809-8385 to order by phone.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.