The stock market is open on Veteran’s day but the bond market is closed.
Military Service and VA Loan benefit for housing
VA.gov says that to obtain a home loan, “You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan.”
VA home loans can be used to:
- > Buy a home, a condominium unit in a VA-approved project
- > Build a home
- > Simultaneously purchase and improve a home
> Improve a home by installing energy-related features or making energy efficient improvements
> Buy a manufactured home and/or lot.
To obtain a COE, the VA says you must have been discharged under conditions other than dishonorable and meet service requirements found at the link above.
DD214.us says that “The Defense Department issues to each veteran a DD-214, identifying the veteran’s condition of discharge – honorable, general, other than honorable, dishonorable or bad conduct.”
Since 9-11-2001 alone, an estimated 2 million Americans have earned their VA benefits and have or could get a DD214. This is one of the large potential markets that manufactured housing professionals could be reaching out to serve, with loans that can have down payments as low as zero money down. Contact a VA loan provider for more details.
MHProNews thanks all Veterans for their service to our great nation, and urges manufactured home professionals to consider ways to reach out and serve this community for the good of all. ##
(Image credit: FlickrCreativeCommons and Veterans Day National Commission)