Real Life Roland blog by Dee Young - Army Male Spouse

Real Life Roland blog by Dee Young - Army Male Spouse

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Real Life Roland

I am Roland Burton.....ok, so I'm not "actually" Roland Burton, but if you watch the show "Army Wives", then you are familiar with the lone male military spouse. I've been married to a Soldier since 2006 and that is exactly how I've felt throughout the years. I've only met one other male military spouse during this time, but I have connected with a few wonderful female military spouses over the years that have accepted me with open arms and made the transition from duty station to duty station much easier. We have two beautiful girls and we love the military life. My name is Dee and I am a "Real Life Roland".

 

Visit the Real Life Roland blog

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What Does 'No Money Down' Really Cost?

FlagHouse.jpgIs it possible to buy a home with no money down? If you or your spouse qualifies for a VA home loan, the answer is yes. VA home loans are a special benefit available to current and ex-members of the U.S. military only and they can save homebuyers a lot of money. Veterans and active members of the U.S. military are eligible for some of the lowest interest rates on the market but that's not the only way VA Loans save buyers money. VA Loans are also "No Money Down" home loans.

Understanding "No Money Down"

"No money down" means homebuyers don't have to provide a down payment to obtain a VA Loan. Traditional mortgages or home loans require as much as 5% to 20% of the purchase price as a down payment on a home. On a $200,000 home that is between $10,000 and $20,000 that must be provided at the closing. Saving up that much money for a down payment is a huge stumbling block for many would-be buyers. They may have the credit and income qualifications needed to obtain a home loan, but just can't come up with the down payment. Too often they end up not buying their own home or they miss out on the home they really want.

The VA Loan program changes that and makes homeownership more accessible by waiving the down payment requirement. VA Loan mortgage lenders are willing to forego this requirement because VA Loans are backed by the U.S. Government. This minimizes the risk to lenders if a buyer defaults, which is one of the primary reasons down payments are typically required.

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Macho Money - What Worked For Me with Alan Brown

vid_workAlan.jpgMacho Money "What Worked For Me" videos are a series of short videos that highlight some financial successes people have accomplished.  These quick interviews are not from Certified Financial Planners, bankers, or any other type of sophisticated financial gurus...they are normal, hard-working people who made some smart decisions with their money.  In this video, Alan Brown shares a quick tip on what helped him start a savings plan nearly 20 years ago.  We can only imagine how much he has in savings today!