Veterans Say Lack of Awareness Keeps Them from Taking Advantage of VA Loans

War veteran saluting to the American flag

Soldiers risk their lives every day to keep their country safe. It’s their job. They get deployed, fight, survive, and come home. Should they choose to retire or are discharged from the army, they go back to being civilians, but not entirely; they become veterans.

Not everything will be smooth sailing once they get absorbed into the civilian community, though. There are things they’re going to need help with if they are to adjust to the civilian life once again.

More Than just a Nudge in the Right Direction

Veterans often come home from less than ideal circumstances — only to face less than ideal conditions again. Statistics show that veterans are more likely to become homeless than other Americans by 50%, even when there are programs available to them, such as VA loans. Surveys conducted with veterans revealed that one of the main reasons they don’t use VA loans is that some of them don’t know how. They also don’t know the finer details of what they are entitled to exactly, and because of the lack of information, it becomes a hassle they’d rather avoid. Financial advisers from Top Flite Financial, Inc. understand that obtaining a VA loan should be easier, to encourage more veterans to take advantage of their entitlement.

Some Things Veterans May Not Know about VA Loans

Veterans are entitled to many things via VA loans, but since some aren’t aware, they don’t get to take advantage of it. One thing they may not be aware of is that VA loans are reusable. Should the first loan be fully paid, and they want to buy another house, they are entitled to VA loans. Secondly, VA loans are government guaranteed. Meaning, there will always be a portion paid to the lender by the federal government. Thirdly, surviving spouses of veterans are entitled to these loans, as well, provided they don’t remarry.

With all these and more, VA loans have been tailored to help make the transition into civilian life a little easier for veterans.