VA Home Loans

A LOOK AT VAIOANS НOME The Department of Veterans Affairs Home Loan Programs serve the Armed Forces of our great nation. The goal of the VA Loan Guaranty Program is to help eligible veterans become homeowners. The program was enacted in 1944 as part of a national effort to transition from a wartime economy to peacetimeeconomy, and to avoid the economic recession historically associated with postwar periods. Today, the VA Home Loan Program continues to give the heroes of our country the opportunity to achieve the dream of homeownership. VA Home Loans Guaranteed by Fiscal Year NUMBER '06 142,708 OF LOANS '07 133,313 '08 179,670 '09 325,690 '10 314,011 AVERAGE '06 $172,629 LOAN AMOUNT '07 $186,703 '08 $200,867 '09 $209,404 '10 $207,160 During 2010, the VA Home Loan Program helped 192,625 VETERANS ACTIVE DUTY PERSONNEL SELECTED RESERVISTS NATIONAL GUARD MEMBERS SURVIVING SPOUSES AND OTHERS dream othomeownership. achieve the 52% of these were first time homebuyers 89% of purchasers benefitted from the 0% home down payment option During 2010, 94,339 VETERANS TOOK ADVANTAGE OF THE VA INTEREST RATE REDUCTION LOAN TO REFINANCETHEIR EXISTING VA MORTGAGE AND GET A BETTER RATE AND/OR BETTER TERMS. OF MALE VETERANS TOOK ADVANTAGE OF THE VA HOME LOAN PROGRAM II OF FEMALE VETERANS DID THE SAME WHILE ONLY 12% VETERANS AGED 26-35 WERE THE LARGEST AGE DEMOGRAPHIC TO EITHER REFINANCE OR PURCHASE 30.6% USING THEIR VA BENEFITS 12.4% 18-25 56-65 17.4% 26-35 66-75 36-45 76+ 26.8% 46-55 How much of your BAH covers your mortgage payment? (Comparing the minimum BAH for members assigned to the following military bases in the U.S. against the median SMOC in the counties the bases are located) Selected monthly owner costs are calculated from the sum of payment for mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees. SMOC (SELECTED MONTHLY HOMEOWNER COSTS) The basic allowance for housing is an allowance for members assigned to permanent duty within the 50 United States, who are not in furnished government housing. It can be used towards mortgage payments. The dollar amount of the allowance depends on location, pay grade, and whether you have dependents. ВАН (BASIC ALLOWANCE FOR HOUSING) SAN BERNARDINO COUNTY, CA $1827 $711 29 PALMS MC AIR GROUND COMBAT CENTER, CA EL PASO COUNTY, CO $1499 $822 FORT CARSON, CO MUSCOGEE COUNTY, GA $1221 FORT BENNING, GA $861 GEARY COUNTY, KS $1242 $744 FORT RILEY, KS VERNON PARISH, LA $898 FORT POLK, LA $736 MERCER COUNTY, NJ $2230 FORT DIX/MCGUIRE/LAKEHURST, NJ $1143 JEFFERSON COUNTY, NY $1189 $1020 FORT DRUM, NY CUMBERLAND COUNTY, NC $1216 $828 FORT BRAGG, NC NORFOLK CITY COUNTY, VA $1610 NORFOLK NAVAL STATION, VA $1101 IL.IIJI REMEMBERING OUR VETERANS SOURCES: VETERANS BENEFITS ADMINISTRATION ANNUAL BENEFITS REPORT- FISCAL YEAR 2010 AMERICAN COMMUNITY SURVEY 2010 MILITARY.COM - 2011 BAH RATES WITHOUT DEPENDENTS BROUGHT TO YOU BY: *newamerican FUNDING We put the I can in American 7.3% 4.2% III A LOOK AT VAIOANS НOME The Department of Veterans Affairs Home Loan Programs serve the Armed Forces of our great nation. The goal of the VA Loan Guaranty Program is to help eligible veterans become homeowners. The program was enacted in 1944 as part of a national effort to transition from a wartime economy to peacetimeeconomy, and to avoid the economic recession historically associated with postwar periods. Today, the VA Home Loan Program continues to give the heroes of our country the opportunity to achieve the dream of homeownership. VA Home Loans Guaranteed by Fiscal Year NUMBER '06 142,708 OF LOANS '07 133,313 '08 179,670 '09 325,690 '10 314,011 AVERAGE '06 $172,629 LOAN AMOUNT '07 $186,703 '08 $200,867 '09 $209,404 '10 $207,160 During 2010, the VA Home Loan Program helped 192,625 VETERANS ACTIVE DUTY PERSONNEL SELECTED RESERVISTS NATIONAL GUARD MEMBERS SURVIVING SPOUSES AND OTHERS dream othomeownership. achieve the 52% of these were first time homebuyers 89% of purchasers benefitted from the 0% home down payment option During 2010, 94,339 VETERANS TOOK ADVANTAGE OF THE VA INTEREST RATE REDUCTION LOAN TO REFINANCETHEIR EXISTING VA MORTGAGE AND GET A BETTER RATE AND/OR BETTER TERMS. OF MALE VETERANS TOOK ADVANTAGE OF THE VA HOME LOAN PROGRAM II OF FEMALE VETERANS DID THE SAME WHILE ONLY 12% VETERANS AGED 26-35 WERE THE LARGEST AGE DEMOGRAPHIC TO EITHER REFINANCE OR PURCHASE 30.6% USING THEIR VA BENEFITS 12.4% 18-25 56-65 17.4% 26-35 66-75 36-45 76+ 26.8% 46-55 How much of your BAH covers your mortgage payment? (Comparing the minimum BAH for members assigned to the following military bases in the U.S. against the median SMOC in the counties the bases are located) Selected monthly owner costs are calculated from the sum of payment for mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees. SMOC (SELECTED MONTHLY HOMEOWNER COSTS) The basic allowance for housing is an allowance for members assigned to permanent duty within the 50 United States, who are not in furnished government housing. It can be used towards mortgage payments. The dollar amount of the allowance depends on location, pay grade, and whether you have dependents. ВАН (BASIC ALLOWANCE FOR HOUSING) SAN BERNARDINO COUNTY, CA $1827 $711 29 PALMS MC AIR GROUND COMBAT CENTER, CA EL PASO COUNTY, CO $1499 $822 FORT CARSON, CO MUSCOGEE COUNTY, GA $1221 FORT BENNING, GA $861 GEARY COUNTY, KS $1242 $744 FORT RILEY, KS VERNON PARISH, LA $898 FORT POLK, LA $736 MERCER COUNTY, NJ $2230 FORT DIX/MCGUIRE/LAKEHURST, NJ $1143 JEFFERSON COUNTY, NY $1189 $1020 FORT DRUM, NY CUMBERLAND COUNTY, NC $1216 $828 FORT BRAGG, NC NORFOLK CITY COUNTY, VA $1610 NORFOLK NAVAL STATION, VA $1101 IL.IIJI REMEMBERING OUR VETERANS SOURCES: VETERANS BENEFITS ADMINISTRATION ANNUAL BENEFITS REPORT- FISCAL YEAR 2010 AMERICAN COMMUNITY SURVEY 2010 MILITARY.COM - 2011 BAH RATES WITHOUT DEPENDENTS BROUGHT TO YOU BY: *newamerican FUNDING We put the I can in American 7.3% 4.2% III A LOOK AT VAIOANS НOME The Department of Veterans Affairs Home Loan Programs serve the Armed Forces of our great nation. The goal of the VA Loan Guaranty Program is to help eligible veterans become homeowners. The program was enacted in 1944 as part of a national effort to transition from a wartime economy to peacetimeeconomy, and to avoid the economic recession historically associated with postwar periods. Today, the VA Home Loan Program continues to give the heroes of our country the opportunity to achieve the dream of homeownership. VA Home Loans Guaranteed by Fiscal Year NUMBER '06 142,708 OF LOANS '07 133,313 '08 179,670 '09 325,690 '10 314,011 AVERAGE '06 $172,629 LOAN AMOUNT '07 $186,703 '08 $200,867 '09 $209,404 '10 $207,160 During 2010, the VA Home Loan Program helped 192,625 VETERANS ACTIVE DUTY PERSONNEL SELECTED RESERVISTS NATIONAL GUARD MEMBERS SURVIVING SPOUSES AND OTHERS dream othomeownership. achieve the 52% of these were first time homebuyers 89% of purchasers benefitted from the 0% home down payment option During 2010, 94,339 VETERANS TOOK ADVANTAGE OF THE VA INTEREST RATE REDUCTION LOAN TO REFINANCETHEIR EXISTING VA MORTGAGE AND GET A BETTER RATE AND/OR BETTER TERMS. OF MALE VETERANS TOOK ADVANTAGE OF THE VA HOME LOAN PROGRAM II OF FEMALE VETERANS DID THE SAME WHILE ONLY 12% VETERANS AGED 26-35 WERE THE LARGEST AGE DEMOGRAPHIC TO EITHER REFINANCE OR PURCHASE 30.6% USING THEIR VA BENEFITS 12.4% 18-25 56-65 17.4% 26-35 66-75 36-45 76+ 26.8% 46-55 How much of your BAH covers your mortgage payment? (Comparing the minimum BAH for members assigned to the following military bases in the U.S. against the median SMOC in the counties the bases are located) Selected monthly owner costs are calculated from the sum of payment for mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees. SMOC (SELECTED MONTHLY HOMEOWNER COSTS) The basic allowance for housing is an allowance for members assigned to permanent duty within the 50 United States, who are not in furnished government housing. It can be used towards mortgage payments. The dollar amount of the allowance depends on location, pay grade, and whether you have dependents. ВАН (BASIC ALLOWANCE FOR HOUSING) SAN BERNARDINO COUNTY, CA $1827 $711 29 PALMS MC AIR GROUND COMBAT CENTER, CA EL PASO COUNTY, CO $1499 $822 FORT CARSON, CO MUSCOGEE COUNTY, GA $1221 FORT BENNING, GA $861 GEARY COUNTY, KS $1242 $744 FORT RILEY, KS VERNON PARISH, LA $898 FORT POLK, LA $736 MERCER COUNTY, NJ $2230 FORT DIX/MCGUIRE/LAKEHURST, NJ $1143 JEFFERSON COUNTY, NY $1189 $1020 FORT DRUM, NY CUMBERLAND COUNTY, NC $1216 $828 FORT BRAGG, NC NORFOLK CITY COUNTY, VA $1610 NORFOLK NAVAL STATION, VA $1101 IL.IIJI REMEMBERING OUR VETERANS SOURCES: VETERANS BENEFITS ADMINISTRATION ANNUAL BENEFITS REPORT- FISCAL YEAR 2010 AMERICAN COMMUNITY SURVEY 2010 MILITARY.COM - 2011 BAH RATES WITHOUT DEPENDENTS BROUGHT TO YOU BY: *newamerican FUNDING We put the I can in American 7.3% 4.2% III A LOOK AT VAIOANS НOME The Department of Veterans Affairs Home Loan Programs serve the Armed Forces of our great nation. The goal of the VA Loan Guaranty Program is to help eligible veterans become homeowners. The program was enacted in 1944 as part of a national effort to transition from a wartime economy to peacetimeeconomy, and to avoid the economic recession historically associated with postwar periods. Today, the VA Home Loan Program continues to give the heroes of our country the opportunity to achieve the dream of homeownership. VA Home Loans Guaranteed by Fiscal Year NUMBER '06 142,708 OF LOANS '07 133,313 '08 179,670 '09 325,690 '10 314,011 AVERAGE '06 $172,629 LOAN AMOUNT '07 $186,703 '08 $200,867 '09 $209,404 '10 $207,160 During 2010, the VA Home Loan Program helped 192,625 VETERANS ACTIVE DUTY PERSONNEL SELECTED RESERVISTS NATIONAL GUARD MEMBERS SURVIVING SPOUSES AND OTHERS dream othomeownership. achieve the 52% of these were first time homebuyers 89% of purchasers benefitted from the 0% home down payment option During 2010, 94,339 VETERANS TOOK ADVANTAGE OF THE VA INTEREST RATE REDUCTION LOAN TO REFINANCETHEIR EXISTING VA MORTGAGE AND GET A BETTER RATE AND/OR BETTER TERMS. OF MALE VETERANS TOOK ADVANTAGE OF THE VA HOME LOAN PROGRAM II OF FEMALE VETERANS DID THE SAME WHILE ONLY 12% VETERANS AGED 26-35 WERE THE LARGEST AGE DEMOGRAPHIC TO EITHER REFINANCE OR PURCHASE 30.6% USING THEIR VA BENEFITS 12.4% 18-25 56-65 17.4% 26-35 66-75 36-45 76+ 26.8% 46-55 How much of your BAH covers your mortgage payment? (Comparing the minimum BAH for members assigned to the following military bases in the U.S. against the median SMOC in the counties the bases are located) Selected monthly owner costs are calculated from the sum of payment for mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees. SMOC (SELECTED MONTHLY HOMEOWNER COSTS) The basic allowance for housing is an allowance for members assigned to permanent duty within the 50 United States, who are not in furnished government housing. It can be used towards mortgage payments. The dollar amount of the allowance depends on location, pay grade, and whether you have dependents. ВАН (BASIC ALLOWANCE FOR HOUSING) SAN BERNARDINO COUNTY, CA $1827 $711 29 PALMS MC AIR GROUND COMBAT CENTER, CA EL PASO COUNTY, CO $1499 $822 FORT CARSON, CO MUSCOGEE COUNTY, GA $1221 FORT BENNING, GA $861 GEARY COUNTY, KS $1242 $744 FORT RILEY, KS VERNON PARISH, LA $898 FORT POLK, LA $736 MERCER COUNTY, NJ $2230 FORT DIX/MCGUIRE/LAKEHURST, NJ $1143 JEFFERSON COUNTY, NY $1189 $1020 FORT DRUM, NY CUMBERLAND COUNTY, NC $1216 $828 FORT BRAGG, NC NORFOLK CITY COUNTY, VA $1610 NORFOLK NAVAL STATION, VA $1101 IL.IIJI REMEMBERING OUR VETERANS SOURCES: VETERANS BENEFITS ADMINISTRATION ANNUAL BENEFITS REPORT- FISCAL YEAR 2010 AMERICAN COMMUNITY SURVEY 2010 MILITARY.COM - 2011 BAH RATES WITHOUT DEPENDENTS BROUGHT TO YOU BY: *newamerican FUNDING We put the I can in American 7.3% 4.2% III A LOOK AT VAIOANS НOME The Department of Veterans Affairs Home Loan Programs serve the Armed Forces of our great nation. The goal of the VA Loan Guaranty Program is to help eligible veterans become homeowners. The program was enacted in 1944 as part of a national effort to transition from a wartime economy to peacetimeeconomy, and to avoid the economic recession historically associated with postwar periods. Today, the VA Home Loan Program continues to give the heroes of our country the opportunity to achieve the dream of homeownership. VA Home Loans Guaranteed by Fiscal Year NUMBER '06 142,708 OF LOANS '07 133,313 '08 179,670 '09 325,690 '10 314,011 AVERAGE '06 $172,629 LOAN AMOUNT '07 $186,703 '08 $200,867 '09 $209,404 '10 $207,160 During 2010, the VA Home Loan Program helped 192,625 VETERANS ACTIVE DUTY PERSONNEL SELECTED RESERVISTS NATIONAL GUARD MEMBERS SURVIVING SPOUSES AND OTHERS dream othomeownership. achieve the 52% of these were first time homebuyers 89% of purchasers benefitted from the 0% home down payment option During 2010, 94,339 VETERANS TOOK ADVANTAGE OF THE VA INTEREST RATE REDUCTION LOAN TO REFINANCETHEIR EXISTING VA MORTGAGE AND GET A BETTER RATE AND/OR BETTER TERMS. OF MALE VETERANS TOOK ADVANTAGE OF THE VA HOME LOAN PROGRAM II OF FEMALE VETERANS DID THE SAME WHILE ONLY 12% VETERANS AGED 26-35 WERE THE LARGEST AGE DEMOGRAPHIC TO EITHER REFINANCE OR PURCHASE 30.6% USING THEIR VA BENEFITS 12.4% 18-25 56-65 17.4% 26-35 66-75 36-45 76+ 26.8% 46-55 How much of your BAH covers your mortgage payment? (Comparing the minimum BAH for members assigned to the following military bases in the U.S. against the median SMOC in the counties the bases are located) Selected monthly owner costs are calculated from the sum of payment for mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees. SMOC (SELECTED MONTHLY HOMEOWNER COSTS) The basic allowance for housing is an allowance for members assigned to permanent duty within the 50 United States, who are not in furnished government housing. It can be used towards mortgage payments. The dollar amount of the allowance depends on location, pay grade, and whether you have dependents. ВАН (BASIC ALLOWANCE FOR HOUSING) SAN BERNARDINO COUNTY, CA $1827 $711 29 PALMS MC AIR GROUND COMBAT CENTER, CA EL PASO COUNTY, CO $1499 $822 FORT CARSON, CO MUSCOGEE COUNTY, GA $1221 FORT BENNING, GA $861 GEARY COUNTY, KS $1242 $744 FORT RILEY, KS VERNON PARISH, LA $898 FORT POLK, LA $736 MERCER COUNTY, NJ $2230 FORT DIX/MCGUIRE/LAKEHURST, NJ $1143 JEFFERSON COUNTY, NY $1189 $1020 FORT DRUM, NY CUMBERLAND COUNTY, NC $1216 $828 FORT BRAGG, NC NORFOLK CITY COUNTY, VA $1610 NORFOLK NAVAL STATION, VA $1101 IL.IIJI REMEMBERING OUR VETERANS SOURCES: VETERANS BENEFITS ADMINISTRATION ANNUAL BENEFITS REPORT- FISCAL YEAR 2010 AMERICAN COMMUNITY SURVEY 2010 MILITARY.COM - 2011 BAH RATES WITHOUT DEPENDENTS BROUGHT TO YOU BY: *newamerican FUNDING We put the I can in American 7.3% 4.2% III A LOOK AT VAIOANS НOME The Department of Veterans Affairs Home Loan Programs serve the Armed Forces of our great nation. The goal of the VA Loan Guaranty Program is to help eligible veterans become homeowners. The program was enacted in 1944 as part of a national effort to transition from a wartime economy to peacetimeeconomy, and to avoid the economic recession historically associated with postwar periods. Today, the VA Home Loan Program continues to give the heroes of our country the opportunity to achieve the dream of homeownership. VA Home Loans Guaranteed by Fiscal Year NUMBER '06 142,708 OF LOANS '07 133,313 '08 179,670 '09 325,690 '10 314,011 AVERAGE '06 $172,629 LOAN AMOUNT '07 $186,703 '08 $200,867 '09 $209,404 '10 $207,160 During 2010, the VA Home Loan Program helped 192,625 VETERANS ACTIVE DUTY PERSONNEL SELECTED RESERVISTS NATIONAL GUARD MEMBERS SURVIVING SPOUSES AND OTHERS dream othomeownership. achieve the 52% of these were first time homebuyers 89% of purchasers benefitted from the 0% home down payment option During 2010, 94,339 VETERANS TOOK ADVANTAGE OF THE VA INTEREST RATE REDUCTION LOAN TO REFINANCETHEIR EXISTING VA MORTGAGE AND GET A BETTER RATE AND/OR BETTER TERMS. OF MALE VETERANS TOOK ADVANTAGE OF THE VA HOME LOAN PROGRAM II OF FEMALE VETERANS DID THE SAME WHILE ONLY 12% VETERANS AGED 26-35 WERE THE LARGEST AGE DEMOGRAPHIC TO EITHER REFINANCE OR PURCHASE 30.6% USING THEIR VA BENEFITS 12.4% 18-25 56-65 17.4% 26-35 66-75 36-45 76+ 26.8% 46-55 How much of your BAH covers your mortgage payment? (Comparing the minimum BAH for members assigned to the following military bases in the U.S. against the median SMOC in the counties the bases are located) Selected monthly owner costs are calculated from the sum of payment for mortgages, real estate taxes, various insurances, utilities, fuels, mobile home costs, and condominium fees. SMOC (SELECTED MONTHLY HOMEOWNER COSTS) The basic allowance for housing is an allowance for members assigned to permanent duty within the 50 United States, who are not in furnished government housing. It can be used towards mortgage payments. The dollar amount of the allowance depends on location, pay grade, and whether you have dependents. ВАН (BASIC ALLOWANCE FOR HOUSING) SAN BERNARDINO COUNTY, CA $1827 $711 29 PALMS MC AIR GROUND COMBAT CENTER, CA EL PASO COUNTY, CO $1499 $822 FORT CARSON, CO MUSCOGEE COUNTY, GA $1221 FORT BENNING, GA $861 GEARY COUNTY, KS $1242 $744 FORT RILEY, KS VERNON PARISH, LA $898 FORT POLK, LA $736 MERCER COUNTY, NJ $2230 FORT DIX/MCGUIRE/LAKEHURST, NJ $1143 JEFFERSON COUNTY, NY $1189 $1020 FORT DRUM, NY CUMBERLAND COUNTY, NC $1216 $828 FORT BRAGG, NC NORFOLK CITY COUNTY, VA $1610 NORFOLK NAVAL STATION, VA $1101 IL.IIJI REMEMBERING OUR VETERANS SOURCES: VETERANS BENEFITS ADMINISTRATION ANNUAL BENEFITS REPORT- FISCAL YEAR 2010 AMERICAN COMMUNITY SURVEY 2010 MILITARY.COM - 2011 BAH RATES WITHOUT DEPENDENTS BROUGHT TO YOU BY: *newamerican FUNDING We put the I can in American 7.3% 4.2% III