VA home improvement loans are ones that are guaranteed by the Federal Government to lenders extending home improvement money to Veterans. They offer great advantages to veterans who own their home, and want to upgrade and update it. Taking out financing based on equity can help increase the value of the homestead, making this a wise financial investment decision. To find all there is to know about the different financing programs, Veterans may speak to lending agencies about the requirements and specifications, or can find more information on the Internet at government sites as well as mortgage company sites that specialize in this financing.
There are many wonderful financial advantages to getting a VA home improvement loan. If one is a Veteran, they do not require a cash down payment, offering 100% financing options. Additionally, there will be no penalties charged if the balance is paid off early. Veterans are sure to get competitive mortgage rates with easier qualifications than with any conventional financing. These can be used to make improvements with energy efficient features that save money and energy. Additions may also be covered, as well as roof repair, new windows and maybe some remodeling. "He that tilleth his land shall be satisfied with bread:" (Proverbs 12:11)
However, they cannot exceed 90% of the value of the home being approved. There are several other specifications required in getting VA home improvement loans. Veterans must also prove eligibility as the requirements will include proven military service and proven residency within the state where the application is submitted. Also, the National Guard and those serving in Reserve Units can qualify if they have served for a specified number of years. In some cases, the spouse of a deceased Veteran can obtain a VA home improvement loan, if the spouse has not remarried.
The Internet can be a valuable source of information for any VA home improvement loan and the support that is offered there. Getting online and researching VA home improvement loans can reveal the different lenders who work with the government in guaranteeing VA home loans. Veterans will want to make sure that they are receiving competitive rates for their improvement loans and competitive construction costs for the improvement project as well. Log on today, and discover how Veterans can qualify for improvement loans. This is just one of the few ways that our service men and women can reap some benefits for the service they have given to their country.
For more information: http://www.christianet.com/homeequityloans
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