Disabled Veterans May See Additional Benefits with Their VA Loans
There are many VA loan benefits available to vets with a service-related disability.
VA loans are flexible, government guaranteed loans made under the programs of the U.S. Department of Veterans Affairs (VA).
VA-guaranteed home loans help eligible servicemembers, veterans, National Guard members
All VA-eligible borrowers can take advantage of the variety of benefits offered by VA- guaranteed home loans:
- Zero down payment requirements
- Zero private mortgage insurance (PMI) requirements
- Competitive interest rates
- Reusable and lifelong benefits
- Limitations on closing costs
Loan is assumable or transferable- No prepayment penalty
Additional Benefits for our Courageous Disabled Vets
In addition to all the benefits listed above, eligible disabled veterans may experience these extra advantages:
Exemption from the VA Funding Fee
Generally, VA home loans require a one-time, upfront fee called the VA funding fee. This fee is a percentage of the loan amount, calculated based on several factors. For many first-time buyers, the fee is 2.15 percent.
However, vets with a service-related disability may be exempt from paying the fee, resulting in cost savings.
Housing Grants for Disabled Veterans
The VA offers grants to veterans and servicemembers with certain permanent and total service-connected disabilities to help purchase or construct an adapted home, or modify an existing home to accommodate a disability.
There are two grant programs that the VA provides: the Specially Adapted Housing (SAH) grant and the Special Housing Adaptation (SHA) grant.
SAH grants assist veterans with certain service-related disabilities
SHA grants aid veterans with certain service-connected disabilities adapt or purchase a home to accommodate the disability.
NewDay USA Wants our Disabled Vets to Realize the American Dream of Homeownership
If you are an eligible veteran or servicemember, you may take advantage of a $0 Down VA Home Loan with NewDay USA.
Call us today at 800-405-4187 to learn more. A dedicated loan officer can answer any questions you may have.