BENEFITS OF BEING AU.S. VETERAN

The U.S. Department of Veterans Affairs continues to look after the needs of the nation’s military personnel throughout their careers and retirement.

Military service veterans are eligible for a host of assistance programs from lifetime health benefits to low-cost mortgages and educational programs.

VA HOME LOANS

Active duty service personnel, veterans and eligible surviving spouses can find assistance in buying, building or repairing a home for their own personal occupancy.

While the loans themselves are provided by private lenders, the VA guarantees a portion of the loan, allowing borrowers to enjoy excellent mortgage terms.

VA home loan borrowers enjoy favorable rates, generally do not need a down payment and are not required to carry expensive mortgage insurance.

Each veteran qualifies for specific home loan benefits based on length of service, service commitment and duty status…

… and these benefits can be used on every home purchased for the veteran’s residence from the first to the last.

VA-guaranteed loans prefer that the borrower have good credit and they must have sufficient income to cover the mortgage payment.

That said, your VA Loan Specialist may be able to get you qualified even if your credit score is low.

Cash out refinance loans are also available, allowing veterans to take cash out of their home’s equity for such expenses as college, home improvements or paying off other debt.

GI BILL

Active duty or honorably discharged veterans may be eligible for this VA-administered educational program a true bonanza in this era of skyrocketing costs in higher education.

GI Bill benefits may be applied to college classes or on-the-job training, usually payable for up to 15 years after active duty…

…with possible additional benefits including monthly housing allowance and stipends for books and supplies.

Universities and other institutions of higher learning that participate in the Yellow Ribbon Program…

…may also grant additional education funds without extra charges to your GI Bill entitlement.

LIFE INSURANCE

Servicemen, veterans and their families enjoy excellent life insurance benefits to cover all phases of their career from active duty through retirement.

Low-cost term life insurance for active service members can be converted to a civilian program of lifetime renewable coverage after separation from service.

Spouses are also eligible for this group life insurance coverage and dependent children are covered at no extra charge.

HEALTH CARE

Veterans enjoy incredible savings on health care including unparalleled discounts on medications.

With over 1,700 sites, the VA healthcare system serves nearly nine million veterans annually…

…providing everything from general health care to mental health services, long term care, prevention/wellness programs and vaccines.

PENSION

Pension benefit programs for veterans fall into two main categories, veterans’ pensions and survivors’ pensions.

#1 The veterans’ pension is a tax-free monetary benefit available to low-income wartime veterans at least 65 years of age or disabled.

Qualifications include: At least 90 days of active duty service. At least one day of which had to be during a wartime period.

#2 The survivors' pension benefit is available to qualifying low-income non-remarried spouses and/or unmarried offspring of deceased wartime service veterans.

DISABILITY COMPENSATION

Unfortunately, some military personnel are injured during active service.

Tax-free compensation is available to those veterans whose disabilities are the result of injury or disease incurred while on active duty, as well as related or secondary disabilities.

In addition, Dependency and Indemnity Compensation is a tax-free benefit available to the surviving spouse, child or parent of military service personnel who have died while on active duties or from service-related disabilities or disease.

Mortgage Originator Jimmy Vercellino, specializing in VA loans, helps veterans use their VA loan benefit to their greatest advantage.  

For more details call 480-351-5904. Visit the site at https://www.valoansforvets.com/va-loan-eligibility/

VA LOANS FOR VETS7702 E. Doubletree Ranch Road, Suite 220Scottsdale, AZ 85258Phone: (480) 351-5904Email: jimmyv@fcbmtg.com