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If any military first time home buyer that has been deployed outside of the from Dec. 2008 to May 1st 2010 and have served 90 days or more. You are eligible for the first time home buyer credit. That means you are eligible to receive up $8,000 home buyer credit that doesn't need paid back!!!! With really low home prices and very low mortgages rates this a great opportunity to spread the word. You would need to be under contract by March 31st 2011 and settle by June 30th 2011..
Please pass this along to our heroes that serve this great country and let them know that this is available to them as well!!!
Check out some of the fabulous advantages of obtaining a Veteran Administration Home Loan! Advantages of VA Home Loans
Buying or refinancing a home is a very important decision. Almost as important as selecting the right home is making sure you are selecting the right loan. There are distinct differences between VA and Conventional loans as well as significant advantages for buyers who qualify for a VA Loan.
Down Payment - VA Offers $0 Down
Conventional loans require a minimum down payment of 3% but in many cases, particularly in today's market banks are asking for as much as 10-20% down. Down payments help to mitigate the bank's risk should the loan go into default. Because a VA Loan is backed by the federal government, banks do not require a down payment making a VA Loan one of very few loan programs that can still offer 100% financing.
Monthly Payment - Save Big Every Month with VA
Because the loan is backed by the government, banks do not require PMI (private mortgage insurance), an added monthly expense required for conventional loans where the borrower finances more than 80% of the home's value.
Lenders will also offer a slightly lower interest rate to a VA borrower (typically 0.5%-1.0% reduction vs. conventional). Interest rates are based on the banks capital risk should the loan go into default, but because a VA Loan is backed by the government the bank takes less risk and is able to offer a lower interest rate to you. A lower rate combined and no PMI can substantially lower your monthly payment, which means more cash in your pocket every month.Qualification Standards - VA is More Lenient
The credit score and qualification standards for each loan type are very different. Once again, because the loan is backed by the government, banks assume less risk and have less stringent qualification standards for VA Loans making them easier to obtain especially in this market.
Live Almost for Free
If you are active duty you can live almost for free because many times your allotted BAH can cover the mortgage payment. So you live almost for free while enjoying the tax benefits of homeownership.
Operation Heroes & Hounds' presents injured members of the United States military with the unique opportunity of coaching and living with shelter dogs. The focus of the program is on personal transformation through The Loved Dog™ method, a playful and nonaggressive approach to canine coaching. Both service members and shelter dogs learn a new set of skills that will make a positive impact on their future.