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Old 4 October 2017, 22:16
57Medic 57Medic is offline
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VA home loan benefits IMPORTANT

I spoke with the VA mortgage people today and learned something important I was unaware of, and would be willing to bet 90% of Veterans do not know either.

The mortgage guy asked if I had used my VA benefit before, and I replied yes, but the loan is paid off. I knew you could get another VA loan, but was not aware that this benefit can be used over and over. He went on to tell me that many vets wait till they are older to use that one benefit. You can actually have 2 at one time, provided one is primary residence.

Passing this on, hopefully it can help Someone out.

Last edited by 57Medic; 4 October 2017 at 22:17. Reason: auto incorrect
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Old 5 October 2017, 06:08
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Purple36 Purple36 is offline
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Quote:
Originally Posted by 57Medic View Post
I spoke with the VA mortgage people today and learned something important I was unaware of, and would be willing to bet 90% of Veterans do not know either.

The mortgage guy asked if I had used my VA benefit before, and I replied yes, but the loan is paid off. I knew you could get another VA loan, but was not aware that this benefit can be used over and over. He went on to tell me that many vets wait till they are older to use that one benefit. You can actually have 2 at one time, provided one is primary residence.

Passing this on, hopefully it can help Someone out.
True and if you use it a second time, they charge a slightly higher VA fee. But if you have any VA disability, that fee is waved, but you will need to provide them proof of your rating.
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Old 5 October 2017, 12:04
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Is there any additional advantage to being a dual-veteran couple?
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Old 5 October 2017, 22:43
57Medic 57Medic is offline
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Unsure, but it would afford both parties to purchase (provided one is the primary residence)
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Old 6 October 2017, 08:39
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Like Purple stated, I believe you have to pay a higher fee for each subsequent use. The total entitlement is something like $627k dollars total, at one time.
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Old 6 October 2017, 11:24
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True and if you use it a second time, they charge a slightly higher VA fee. But if you have any VA disability, that fee is waved, but you will need to provide them proof of your rating.
Indeed. The two concrete benefits I've received due to my rating is having the fee waived when I used my VA loan guarantee a second time and a free lifetime pass to national parks, forests, etc....
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Old 6 October 2017, 14:11
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Indeed. The two concrete benefits I've received due to my rating is having the fee waived when I used my VA loan guarantee a second time and a free lifetime pass to national parks, forests, etc....
http://hanfordsentinel.com/news/opinion/columnists/veterans-corner-national-parks-access-pass-available-for-veterans/article_bfd1747c-d51e-11e2-a269-001a4bcf887a.html
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Old 6 October 2017, 19:20
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http://hanfordsentinel.com/news/opinion/columnists/veterans-corner-national-parks-access-pass-available-for-veterans/article_bfd1747c-d51e-11e2-a269-001a4bcf887a.html
Yep - that's the one. And living as I do in close proximity to 2 National Parks I'm wearing that puppy out.
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