Veterans Day - VA Loans
Origins
There are 19 million veterans who have served in the United States military. Veterans Day can be traced back to it Armistice Day and was observed on the first anniversary after the end of WW1. In 1954, Dwight D. Eisenhower signed a law officially changing the name to Veterans day
Service Members By War
World War I (1917-1918): About 4.7 million.
World War II (1941-1945): Approximately 16 million.
Korean War (1950-1953): Around 5.7 million.
Vietnam War (1955-1975): Approximately 9 million served during the era, including both combat and support roles.
Gulf War (1990-1991): Roughly 2.3 million served.
Post-9/11 Conflicts: Over 2.7 million served in the military between 2001 and 2021, many of whom deployed multiple times.
VA Loan Benefits
While it will never compare to the bravery and sacrifice service men and women have given to this country, the VA does try to reward veterans and active military for their bravery. One benefit that veterans and those currently serving have is access to loans through the VA. These home loans help those that have served own a piece of this country they fought for.
Here are some of the benefits to a VA Home Loan:
$0 down purchase options
No mortgage insurance
Lower interest rates than conventional mortgages
Easier qualifications
Assumable mortgages that can be transfered to the new homeowner if sold in the future.
Foreclosure protection
Easy refinances (VA IRRRL)
No Maximum Loan Limits
Who is Eligible
Veterans: Those who served on active duty for 90 continuous days during wartime or 181 days during peacetime.
Active-duty service members: Those who are currently serving.
National Guard and Reserve: Members who have served at least 6 years in the National Guard or Reserves, or were activated for at least 90 days of service.
Surviving spouses: Certain surviving spouses of veterans who died in service or from service-related injuries, or who are permanently disabled due to service-connected issues.
