Military Refinancing Options
In a world with rising costs of living, being able to save as much as you can on things such as home heating and air conditioning is a big deal. If you are a veteran and you already hold a VA home loan, then you could qualify for VA energy efficient loans. VA energy efficient loans are loans that allow you to make improvements on your new or refinancing that allows you to make your older home more energy efficient. If the long run, the loan will actually save you money because you will no longer be heating outside in the winter instead of inside. Additionally, VA energy efficient loans will increase the salability and equity in your home.
Why should I apply for VA energy efficient loans?
Everyone prefers lower utility bills, that is a given. By taking out VA energy efficient loans, you will be saving money every month on your utility bills. An energy efficient home is also good for the environment. If you are able to keep your heat inside in the winter and the air cool in the summer, you are helping to reduce the amount of green house gases that escapes an average home and releases into the air. VA energy efficient loans help you reduce the amount of emissions you and your family release.
How do I get VA energy efficient loans?
If you are a military veteran, you have the right to apply for VA energy efficient loans. The difference between one of these loans that is offered to the general public and the one that is offered to the veteran is that a veteran qualifying for VA energy efficient loans also gets the benefits included with other VA loans: lower interest rates, no down payments, and qualification for a mortgage loan with a lower income bracket.
As a veteran, you can also combine the VA energy efficient loans with your fixed rate or adjustable VA mortgage loan. VA energy efficient loans allow you to borrow up to $6,000 for improvements regardless of the appraisal of your home. In order to get VA energy efficient loans you will need to find a lender that participates in the VA loan programs. You will need to submit proof of military service, residency of the state you live in and the proper forms to the VA to get a certificate of eligibility and then you can work with your lender to determine of VA energy efficient loans are what you need.
If you are a veteran who is tired of paying outrageous utility bills then you may wish to look into VA energy efficient loans to help make your home warmer in the winter, cooler in the summer, and easier on the water consumption. VA energy efficient loans will bring your bills down and help the environment, something we can all live with and be proud of.
