2 minute read
In Service
BY JILLY MAC DOWELL
As per the VA Home Loan Guaranty Buyer’s Guide, the VA-Guaranteed Home Loan program has helped generations of Veterans, Servicemembers & their families enjoy the dream of homeownership and the opportunity to retain their homes in times of temporary financial hardship.
It’s our responsibility as L.O.s to help veterans take advantage of this hard-earned benefit. In brief, we know that VA loan generally means no down payment, no loan limit with full entitlement, no need for PMI or MIP, competitive terms & interest rates, fewer closing costs & no penalty for early pay-off. But to maximize this benefit, a veteran needs their L.O. to know all the nuances.
A new survey has revealed that more veterans & service members are feeling ready to enter the housing market. Said MPA magazine recently: Veterans United Home Loans, a VA lender, launched a new index to gauge financial readiness & homebuying sentiment among veterans, service members & civilians. The survey showed that veterans & service members are particularly optimistic, with 74% planning to buy a home within the next year, compared to 69% of civilians. This newfound optimism comes as financial confidence improves.
The CVLS certification was conceived in 2017 & launched under then-NAMB president Rick Bettencourt Jr’s oversight to
BY JILLY MAC DOWELL
“give an elevated level of knowledge to a community that has been under-served for many years.” He’s been teaching the course ever since, along with Je Wilson (see our Veteran member profiles on page 6).
“L.O.s often ignore the VA,” says Bettencourt, “who have been open & public about their inability to disseminate the information.” Stigmatized as a hassle due to strict rules & regulations, there remains a lot of misinformation about VA loans. This course is designed to cut through the BS to get to the “how” for the subtle details. Conversely, there are workarounds to limitations if you know how.
Most of the time the classes are very interactive. “The students are really engaged,” Bettencourt says. “They ask a lot of questions. They’re there because they can pay back an unrepayable debt to service members by making the American dream of homeownership a reality.
“[With VA] I consider myself a benefit administrator, not a loan officer. It’s Federal freakin’ law!”
NAMB is pleased to announced the CVLS course & annual renewals is now FREE for Veterans! And an online CVLS course was just announced for December 12! Register here.
