Unlock These Exclusive Veteran Loans And Funding Opportunities Today

Veterans and service members have special laws to help them stay out of debt and allow them to focus on their duties. There are also direct assistance programs for financial hardship, and some loan options to help build a life after service.

VA Home Loans

The VA Home Loan program started after the Second World War and has helped over 20 million service members since then. The loan is guaranteed by the government and can be used to buy or build a new home, a condo or cooperative housing unit, or manufactured home. It can also be used to repair or alter a home occupied by a veteran.

The loan is taken out through a conventional lender such as a bank or credit union and VA guarantee to pay 25 to 50% of the loan amount if the borrower defaults, up to a value of $105,000. The main advantages of this kind of loan are that no down payment is required, the veteran is more attractive to lenders, mortgage rates are usually better than market rates, and there are no prepayment penalties. Housing adaptation assistance for veterans with certain disabilities is also available. Unfortunately there is a fair bit of red tape around these loans including a home inspection by the VA, which can delay the process.

Small Business Loans

Disabled veterans are eligible for certain benefits due to their injuries, and one of these is assistance with finding the funds to start a small business. Patriot Express Loans can be obtained from participating banks and other financial institutions. The government’s Small Business Administration guarantees to pay these loans in the event of default and loans of up to $500,000 are available. If the loans are for $25,000 ore more and made for up to 7 years, interest rates are currently capped at 2.25%. The veteran must own at least 51% of the business and have an honorable discharge certificate from the office of Veterans’ Affairs.

Other Loans

As well as grants and benefits available to all veterans, military loans of up to $10,000 are available to veterans from all services from Omni Financial. Loans for specific needs are also available from the Navy-Marine-Corps Relief Fund.