VA Loans

As an expression of gratitude for those who have served in the Armed Forces, the federal government created a program for Veterans’ Affairs loans. A VA loan is essentially a guarantee that the US Office of Veterans Affairs will back any loan that is granted to a veteran, or his or her surviving spouse. This has helped many veterans qualify for home or car loans, as well as providing much-needed assistance during times of financial struggle.

If you are suffering from unmanageable levels of debt, bankruptcy may be a viable option for you. To learn more, contact the West Palm Beach lending attorneys at the law office of Eric N. Klein & Associates, P.A. Call 561-353-2800 today to schedule a free initial consultation.

Benefits of a VA Loan

A VA loan enables veterans to finance a home when private financing is not an option, and may allow them to avoid down payments. Additionally, a second mortgage can be obtained at 20% of the home’s value, but borrowers will have to pay a 0 – 3.3% funding fee. This can also be financed into the loan.

With a VA loan, a veteran can borrow 100% of the sales price of their home. Because a VA loan allows veterans to pay off their loan without paying any private monthly insurance payment, more of their payments are going toward repaying the loan and its accumulated interest. This enables to pay off loans more quickly than they would be able to pay off a non-VA loan.

Contact Us

For more information on loans, credit, and debt, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, PA today by calling 561-353-2800.