How Can Veterans Secure Housing?

Helping Homeless VeteransThere is a large population of US veterans that are homeless. Overall estimates stood at 23 million in 2008. Many veterans enter the armed forces just after high school and upon returning home, may face many challenges, including finding work and housing.

For Ohio Veterans threatened with homelessness, there are non-profit organizations and shelters available for immediate solutions; such as the Cleveland Veterans Resource Center, Walton Avenue Housing Program, and Veterans Domiciliary at Wade Park.

Understanding VA Loans

Estimates show that annually 6650 veterans struggle with the home buying process in Ohio. Since the 2008 housing crash, private and public lenders have tightened regulations, which makes getting financing more challenging. This poses particular difficulty for veterans wishing to purchase a home, fortunately they can utilize federal VA loans to do so. The VA loan program was created in 1994 to help returning service members as they re-enter civilian life.

VA loans are guaranteed by the federal government and are a mortgage loan issued by approved lenders. Some benefits of VA loans, which makes it easier and affordable for veterans to purchase a home include: competitive interest rates, no down payment and no private mortgage insurance.

How do I know if I am eligible for a VA loan?

For the Veteran seeking to purchase a home, you must first have a Certificate of Eligibility (COE) and to be eligible for a COE you must have acceptable credit and a viable source of income. You must also be either a retired or active member of the military. You would not be ineligible if you were dishonorably discharged. Borrowers who qualify for the VA loan have a little to no out-of-pocket expense.

For assistance with your VA loan, you can contact ConBro Buyers Brokerage today at info@conbrobrokerage.com

 

 

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