An important part of our law practice at Rebecca W. Geyer & Associates is to provide 
assistance to veterans and their surviving spouses by helping them obtain VA benefits.
Of all the benefits for which veterans and their family members can qualify, an extremely important one is the opportunity to qualify for a VA loan. Bart Castricone, a veteran himself and Senior Loan Officer of Primary Residential Mortgage, Inc. here in Indianapolis, explains some of the benefits and features of VA loans:
- loans in amounts as high as $750,000
- competitive interest rates
- (often) require no money down
- (often) require no private mortgage insurance
- reduced closing costs
- (for disabled vets) no funding fee
- one-time close on construction loans
In addition to purchase loans, cash-out VA refinancing loans are available for up to 90% of a home’s value, thereby making cash available for home improvements or education funding. As our attorneys work to explain elder law matters to our clients, the help we offer in navigating the system has become of great value to those who are veterans of the armed forces, as well as to their family members and survivors.
The VA’s own website explains the mission: to help veterans and eligible surviving spouses become homeowners. “We provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.”
At Geyer Law, we explain to our clients that the funding for VA Home Loans does not come directly from the government, but is provided by private lenders such as banks and mortgage companies. The role the VA plays is to “guarantee a portion of the loan, enabling the lender to provide you with more favorable terms”.
One observation we find ourselves making all too often at Geyer Law is that Veteran’s Benefits are among the most misunderstood and underutilized resources. And, while our own focus has been on helping veterans and their family members qualify for disability/compensation benefits and pension benefits, home ownership benefits are certainly vital in providing well-deserved peace of mind for our military veterans and their loved ones.
– by Ronnie of the Rebecca W. Geyer & Associates blog team
