"You see, the flow of credit is the lifeblood of our economy. The ability to get a loan is how you finance the purchase of everything from a home to a car to a college education, how stores stock their shelves, farms buy equipment, and businesses make payroll."
So noted President Barack Obama in his first address to Congress, explaining the importance of responsible lending and strong credit.
Credit is indeed a cornerstone of the American economy. Your good credit score combined with your military service gives you unique access to the best possible military loans at lowest interest rates, with the most favorable repayment terms.
Not all debt is bad debt. When it comes to reputable military loans, some of the best available credit is extended to responsible military servicemembers who have a good credit history and strong credit scores.
Make it your goal to look into getting responsible military loans when needed; loans that will serve you, your military family, and, at this time in history when it is our collective goal to rebuild our economy, responsible lending will even your country. Your ability to repay your military loan will pay you back with a stronger financial future.
If you're a veteran, you could be in business right now, with the Small Business Administration (SBA) loan programs and services for veterans. SBA Loans up to $500,000 may be used for business start-up, expansion, equipment purchases, working capital, inventory or business-occupied real estate purchases.
Part of saving money successfully means not spending more than you have. But sometimes, you may need to consolidate higher interest loans, or need money for emergency travel, car repairs or some other unexpected, immediate or temporary expense. In these cases, you'll be happy to know that your military lifestyle makes you eligible for some of the better loan products available for the military.
No credit-check loans for military servicemembers allow lenders to bypass the credit check part of your loan application. No one needs to know your credit history, as there is simply no credit check required for your loan approval process. Actual loan approval is based on other criteria, as defined by your lender.
In doing my research comparing a VA loan versus a conventional loan, it appears that if you put 20% down on a conventional loan...
I used by VA home loan eligibility on a home purchase back in the 80's. I paid it off years ago. I want to purchase another home...
I am active duty military and government housing is not available at my base. Can a VA lender can count my BAH income...