Veteran Home Loans: Why Your Realtor Matters
Veteran home loans come with great benefits, yet fewer than 12 percent of the nation’s veteran population take advantage of the program. Why? Because navigating through the process requires specialists equipped with the necessary tools, and when those specialists are few and far between, the opportunities for veteran housing go unused.
In Rhode Island, the veteran population is just over 70,000, yet 13,000 of those individuals live in what the Housing Assistance Council describes as, “homes with one or more major problems of quality, crowding or cost.” And that is not the only problem with veteran residences. Thirty-one percent of the state’s veterans pay over market value for their housing, and of the total number of veteran homeowners, a mere 5.4 percent of them are beneficiaries of a VA loan.
But this does not need to be the case. Veteran home loans are designed to bring veterans back into home life without assuming excessive burdens, and come with some incredible benefits, including a higher allowable DTI, credit flexibility, and better than average interest rates, all with zero money down.
However, all these benefits does not mean that the process can be navigated alone – it is critical to work with a realtor who understands the process, both from the perspective of the veteran, as well as the housing market. And that is not always easy to find.
As a veteran owned and operated real estate brokerage, RISE Real Estate Consultants of Providence understands how VA home loans work, and offers specialist support, including strategic partners, throughout the process. We have supported numerous veterans over the years, and their testimonies speak to how we understand the process, and keep you, the veteran, front of mind.
For more information on how RISE can navigate you through the VA home loan process, or to learn more about our real estate services in Rhode Island, Massachusetts, and Connecticut contact us via email, visit our website, or give us a call on (401) 308-3279.