Get into this home for virtually no money out of pocket

2404 Dogwood, Little Elm is in a USDA-eligible area. That means that qualified buyers can purchase the home with no down payment! On top of that, the seller is offering up to $5000 in closing cost assistance with an accepted offer, reducing the amount of money the buyer has to bring to the table!

Facts About U.S. Veterans

Veterans Day originated as "Armistice Day" on Nov. 11, 1919, the first anniversary marking the end of World War I. Congress passed a resolution in 1926 for an annual observance, and Nov. 11 became a national holiday beginning in 1938. President Dwight D. Eisenhower signed legislation in 1954 to change the name to Veterans Day as a way to honor those who served in all American wars. The day honors military veterans with parades and speeches across the nation. A national ceremony takes place at the Tomb of the Unknowns at Arlington National Cemetery in Arlington, Va.

Veterans

19.6 millionNumber of military veterans in the United States in 2013.
Source: 2013 American Community Survey 
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/DP02

1.6 millionNumber of female veterans in the United States in 2013.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/B21001

11.3%Percent of veterans in 2013 who were black. Additionally, 79.3 percent were non-Hispanic white; 1.4 percent were Asian; 0.7 percent were American Indian or Alaska Native; 0.2 percent were Native Hawaiian or Other Pacific Islander; 1.2 percent were some other race. (The numbers for blacks, non-Hispanic whites, Asians, American Indians and Alaska Natives, Native Hawaiians and Other Pacific Islanders, and some other race cover only those reporting a single race.)
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/S2101

6.0%Percent of veterans in 2013 who were Hispanic.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/S2101

9.3 millionNumber of veterans 65 years and older in 2013. At the other end of the age spectrum, 1.6 million were younger than 35.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/B21001

When They Served

7.0 millionNumber of Vietnam-era veterans in 2013. Moreover, there were 5.2 million who served during the Gulf War Era (representing service from August 1990 to present); 1.3 million who served in World War II; 2.1 million who served in the Korean War; and 4.7 million who served in peacetime only. 
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/B21002

58,445

Number of living veterans in 2013 who served during the Vietnam Era and both periods of the Gulf War (August 1990 to August 2001and September 2001 or later).

Other living veterans in 2013 who served during three wartime periods:

• 39,890 served during World War II, the Korean War and the Vietnam Era.

Number of living veterans in 2013 who served during two wartime periods:

• 1,006,501 served during Gulf War (August 1990 to August 2001) and Gulf War (September 2001 or later).
• 294,251 served during Gulf War (August 1990 to August 2001) and the Vietnam Era.
• 175,676 served during the Korean War and the Vietnam Era.
• 92,670 served during World War II and the Korean War.

Sources: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/B21002

Where They Live

3Number of states with 1 million or more veterans in 2013. These states were California (1.7 million), Texas (1.5 million) and Florida(1.5 million).
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/S2101/0100000US.04000

Education

26.8%Percent of veterans 25 years and older with a bachelor's degree or higher in 2013. In comparison, 29.9 percent of nonveterans had a bachelor's degree or higher.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/S2101

29.1%Percent of veterans 25 years and older in 2013 whose highest educational attainment was a high school diploma or equivalency in 2013, compared with 27.7 percent of the nonveteran population.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/S2101

Income

$36,381Annual median income of veterans in 2013, compared with $25,820 for the nonveteran population.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/B21004

On the Job

7.7 millionNumber of veterans 18 to 64 years old in the labor force in 2013, of those 7.1 million were employed.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/C21005

Service Connected Disabilities

3.6 millionNumber of veterans with a service-connected disability rating in 2013. Of this number, 957,504 had a rating of 70 percent or higher. A "service-connected" disability is one that was a result of a disease or injury incurred or aggravated during active military service. Severity of one's disability is scaled from 0 to 100 percent, and eligibility for compensation depends on one's rating.
Source: 2013 American Community Survey
http://factfinder2.census.gov/bkmk/table/1.0/en/ACS/13_1YR/B21100

Voting

14.7 millionNumber of veterans who voted in the 2012 presidential election. Seventy percent of veterans cast a ballot in that election, compared with 61.8 percent of all U.S. citizens 18 years and older.
Source: Table 13. Reported Voting and Registration, by Sex, Veteran Status, and Age: November 2012
http://www.census.gov/hhes/www/socdemo/voting/publications/p20/2012/tables.html

12.4 millionNumber of veterans who voted in the 2010 congressional election. Fifty-seven percent of veterans voted in that election, compared with 45.5 percent of all U.S. citizens 18 years and older.
Source: Table 13. Reported Voting and Registration, by Sex, Veteran Status, and Age: November 2010
http://www.census.gov/hhes/www/socdemo/voting/publications/p20/2010/tables.html

Getting Started with Your VA Loan

A VA-guaranteed loan is a fabulous benefit offered to hard-working men and women who have served or are serving in the U.S. military. Some of the benefits available only through a VA loan includes the opportunity to refinance your home up to 100 percent of its value, and purchase a home with no down payment.

A VA loans also eliminates the  private mortgage insurance premium requirement and limits the amount you can be charged for closing costs. The seller also can pay your closing costs. VA-backed loans can't charge you a penalty if you pay off your loan early. Also, the VA may be able to help if you find yourself struggling to make payments. 

You can use a VA-backed loan to:

• Buy a home, a condominium unit in a VA-approved project
• Build a home
• Simultaneously purchase and improve a home
• Improve a home by installing energy-related features or making energy efficient improvements
• Buy a manufactured home and/or lot.

The one cavet is that the home must be for your own personal occupancy.

To qualify for a VA loan, you have to prove that you meet one of the following requirements:

• Served 181 days during peacetime (Active Duty)
• Served 90 days during war time (Active Duty)
• Served 6 years in the Reserves or National Guard
• Be the surviving spouse of a service member who was killed in the line of duty.

Click here for more detail

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To show that you are eligible for a VA loan, you must get a Certificate of Eligibility (COE) or Form 26-1880 from the Veterans Association.  The documents you need to request the COE depends on the category of your eligibility. Click here for a list of documents you'll need.

There are three ways to apply for the COE - online, via snail mail or through your lender. If you apply directly, it could take up to six weeks before you get a response, so make sure you request the certificate very early in your home search.

You also have to suitable credit and sufficient income as well. Though there are some exceptions, the VA will guarantee up $417,000. Your lender can help you determine your loan amount.

While VA loans require no down payment, borrowers do have to pay a funding fee. This fee, which can be as high as 3.3% is based on how much you do put down, whether this is your first or subsequent VA loan and whether you're regular military or reserve/National Guard. These fees are waved for vets classified as disabled by the VA.

If you're a veteran or an active service member, let me help guide you through the entire homebuying process. I can refer you to mortgage professionals who can help you find the best VA lender to help you meet your needs. Want to know more? Drop me a email now.