Veterans Informing Veterans About Lenders and Home Buying Process

Are you a Veteran who bought a house using your home loan benefit? What kind of experience did you have during the lender or buying process? Would you like to share with other Veterans a great experience (or not so great experience) with a particular lender?

While helping a disabled veteran buy his first home, it struck me that the home buying experience is particularly frustrating for Veterans. Veterans and their families are kind of stuck taking the “toss the coin” approach on how to proceed, such as which lender is more commonly used or has the best consumer ratings as V.A. authorized lenders.

Lenders or Real Estate Agencies are not all the same. However, it is impossible to compare “apples to apples” or “apples to oranges” when there is no available data for a consumer Veteran to consider, except for the random hit and miss of word of mouth.  Of course, the value of that depends on whose “word” and whose mouth!

Veterans invariably have questions about whether the loan deal is it a good deal. Or whether the process they are having is processing normally or exceptionally slow. We believe Veterans need a place to write or share their consumer experiences. The Veterans Administration isn’t able to give particular endorsements, neither it seems are there resources to compare real consumer experiences and help you to avoid any pitfalls in the buyer and lender processes.

It is your right as a Veteran and as a consumer to have that information or to share your experiences! What another Veteran shares as his or her experience is just something more to consider. Who knows? It could turn out to save you and your family some undue stress and headache.

Educational Family Estate Apps is a place where Veterans and their families can do just that – leave their information or read the experiences of other Veterans to empower each other during the home buying journey. Start by leaving your comment now! We at Educational Family Estate Apps believe education should be affordable. Empower yourself today!

Buying a home with a V.A. loan?

I have been working with a service connected, disabled Veteran, since he is a first time home buyer and requested that I assist him through the buying process. I have found that there is still a great deal of misinformation from both lenders and real estate agents about the V.A. Home Mortgage Loan Program. As a result, I will be writing about my experiences, so this reflects one post within a series. Stay tuned!

Are you thinking of buying using your V.A. home loan benefit? Good for you! Do you have 100% service connected disability/ities? If so, you will receive a waiver of the V.A. funding fee, along with the standard benefits, such as no required down payment.

After securing proper financing, home ownership represents a significant source of personal wealth in the United States. Home ownership and net equity are together about one – third (1/3) of net worth of American households. Recognition of the U.S. government of this fact is represented in the provision of significant subsidies to home owners. Except for the uncertainty the 2007 housing meltdown created and the ease in which hard earned financial stability and overall family financial legacy could be lost, it is still a safe bet that home ownership is a good, long term investment. Overall, home related subsidies in 2009 reached a whopping $137.6 Billion in 2009! Of that total, mortgage interest tax deduction represented the majority. Clearly, if you are renting, you are missing an important source of help when building your family’s overall financial stability.

It should be comfort to any Veteran set to embark on utilizing his or her V.A. home loan benefit that the Denver regional office of the V.A. has been a great source of valuable information. Everyone I talked to has been quite helpful. While I personally asked for a reference of any information I received, so I could research it myself at a later time, I would suggest relying on the information received from your regional office first over what your real estate agent or even lender may say.

What kind of house should you buy? It is estimated that around 10% of Americans currently live in manufactured housing in 2015 (a value created from estimation of Americans who live in manufactured housing versus the total estimated U.S. population in 2015 ). Since, manufactured houses represent a path toward affordable home ownership and typically cost less than conventional, stick built homes, an upward trend is expected in the number of families who will own a manufactured home. The main factor for the lower pricing is attributable to the controlled, factory based assembly process of manufactured houses. It produces significantly less waste and reduces time spent on the assembly process.

Unfortunately, lenders can still tack on as much as a full percentage point to your overall interest rate. It reflects a penalty in fact for purchasing a manufactured home and the practice is based on old stigmas. This is despite the evidence that manufactured homes can be more energy efficient and better built than conventional ones! For example, an Energy Star qualified model can cut your average energy costs as much as 30%!

After I assisted in cleaning up the Veteran’s credit history by contacting the credit bureaus, closing delinquent accounts that were outside of the state’s Statute of Limitations (he had never filed for bankruptcy) and by definition eligible to be closed, his FICO credit score went from 550 to almost 700 in about a 45 day period!

If affordability and predictability of your monthly mortgage payment are factors high on your list of criteria, prepare to make a purchase now by cleaning up your credit history and then select the kind of house that maximizes your present buying power.  It is always preferred that any purchase includes the property to maximize the long term investment represented in your place of residence and “new” or new to you manufactured home!

Affordable Support System to buffer life’s uncertainties

Educational Family Estate Apps offers full support as needed to help you prepare your affairs no matter what stage of loss or grief you find yourself in today. Natural disasters, such as drought or flood cause loss of home or job and are just some of what should be expected. Severity of these events are worsened as climate change progresses.

““From our industry’s perspective, the footprints of climate change are around us and the trend of increasing damage to property and threat to lives is clear,” said Franklin Nutter, president of the Reinsurance Association of America (

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This winter, don’t fret. We hope to connect with you and exceed your expectations.


The downloadable pdf file of Educational Family Estate Apps offers the value packed information you need to know in Estate Planning and Child Guardianship. My elderly friend recently suggested her mortgage free home wasn’t in a Trust. I told her what kind of Trust she needed to avoid a government lien, if she should happen to need long term care. You may think you know but do you really?


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