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How VA Loans are Helping Veterans Buy Property in Athens

In 1944, the Servicemen’s Readjustment Act was passed by the United States Congress and signed into law as a means of providing updated and additional perks to the men and women who served honorably in our nation’s military. To see what this means for qualifying individuals and their families today, let’s take a look at how VA loans are helping veterans buy property in Athens.

Qualifying Factors

There are some people who are under the misconception that VA loans are available to anyone and everyone who has served in the United States military. On the contrary, there are some qualifications that must be met in order to take advantage of this extremely beneficial program.

There are a few differing time requirements depending on who is applying for the loan.

For example, you would qualify if you are active duty and have served 90 continuous days, are a veteran who meets length-of-service requirements, or has completed 90 days of active-duty service or six creditable years in the Selected Reserve or National Guard. As you can see, this does not limit which branches of the military are afforded this opportunity.

Finally, surviving spouses of veterans who passed while in service or from a service-related disability can also be eligible for a VA loan, depending on further circumstances.

The best way to discover for certain if you qualify for funding is to contact the Department of Veterans Affairs. Let the VA know who you are and that you are looking to acquire a VA loan.

The VA can then look into your records and see if you are eligible. In the event that you are eligible, the VA will provide you with a certificate of eligibility. This certificate is an essential part of applying for your loan, so take good care of it.

The Core Benefits

It’s important to understand that not all VA loans are the same, and there are different sorts of flavors of VA loans. However, you can expect up to 100% financing of any home without any specific restrictions on the property type as long as it is your only home.

Next, interest rates will vary from lender to lender, but you can expect VA loan interest rates to be lower compared to your usual conventional or FHA loans. As far as the down payment on the property is concerned, you can get away with no down payment at all. The icing on the cake with the 0% down payment is there is never any Private Mortgage Insurance, or PMI, added onto your monthly payments if you put down less than 20% of the closing price of the home.

All of these perks add up to one spectacular loan package.

How to Apply

As we mentioned before, everything starts with talking to the VA to get that all-important VA certificate of eligibility.

The VA may have recommendations for reputable mortgage lenders to contact in order to move forward. Not all mortgage lenders provide all sorts of VA loans, so you will want to do the usual meeting with a few different lenders to get a clear picture of what types of options they offer.

Be sure to ask any questions you may have at these meetings and then choose the lender with which you are most comfortable and will provide you with the loan you are seeking.

A quick word of warning: Be cautious of any lenders that reach out to you or are offering loans that seem too good to be true. There has been an escalating trend of predatory and disreputable lenders seeking out unknowing targets.

Guidance Buying with VA Loans in Athens

If you’re one of the many veterans looking to buy homes with VA loans in Athens, contact our experienced team today at 706-928-9959!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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