Have You Ever Wondered Why Every Military Officer Owns a Home?
Military officers, whether active or retired, can easily own homes
Most governments, especially the US, have created financial institutions that cater for the needs of their men and women in uniform. One such institution is the Veteran’s Administration, popularly known as the VA. The VA guarantees military officers homes through a home loan program. It provides 100% financing on homes at very competitive rates. Most importantly, it spares military officers qualms on their credit status. Consequently, they do not have to worry about (getting VA home loans with bad credit). Military officers, whether retired or still duty active, have a slight edge over ordinary citizens when it comes to home ownership.
The Veteran’s Administration has no business paying attention to military officers (getting VA home loans with bad credit). The credit score of military officers does not count when securing a home loan with VA. It absolutely has no impact on the applicant’s rate. However, conventional loaning programs place great weight on an applicant’s credit score when determining their eligibility. Poor credit scores usually stand in the way of ordinary citizens’ dream to own a home. It is, therefore, easier for military personnel to own homes than ordinary people.
Debilitating financial crises like bankruptcy do not form obstacles in the way of military officials aspiring to secure home loans.
The men and women in jungle boots, whose major task is to secure the borders of the nation, can still obtain home financing even after filing for bankruptcy. It is a sigh of relief for some military personnel who may have been poor financial managers in the past. Since taking risks in inherent in the DNA of the military officers, they may venture into risky businesses, and may suffer heavy losses resulting into bankruptcy. However, with the VA, bankrupt military personnel no longer have to worry about getting VA home loans with bad credit. Nevertheless, there are cases where risky ventures pay off hugely, turning military officials into instant millionaires. They do not have to worry about losing their investments since they can still own home, thanks to the VA.
(Getting VA home loans with bad credit) is, therefore, not a big deal for military officers. The downside of the VA loans is that it finances only homes. The men and women in jungle boots would need to approach conventional financial institutions should they wish to invest into something other than homes. They may need to boost their savings or look for alternative sources of finance. The VA does not guarantee ownership of land, even though homes sit on land. The officers, therefore, have to find ways of purchasing pieces of land before the VA can step in to finance home building and construction.