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Va Certificate |
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Dear Edith Lank: I am writing to you because I am a World War II overseas 8th Air Force (B-17s) veteran, 81 years old now. I received from the V. A. a Home Loan Certificate for $7,500. I have never used it. I would like to make some good use for it (like buying a home.) I don't want it to go to waste. Most everyone I talk to, Realtors and friends, are not much interested in it. I will await your answer.You may print my letter. |
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That certificate represents the Federal government's guarantee that a mortgage company won't lose money lending you a no-money-down mortgage on a home you intend to live in. With the certificate in hand, you could go to a bank and borrow the entire amount needed to buy your own home. All you'd need is good credit, and enough dependable income to carry the monthly payments comfortably. The amount of the guarantee has been raised considerably over the years and is a lot higher than $7,500 these days.It can cover a house worth more than $200,000, if you can afford it. If you prefer to stay in your apartment rather than homeowning, just keep the certificate for a souvenir. It expresses the country's gratitude for the service you performed in those Flying Fortress bombers. |
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Edith
Originally published on April 3, 2005 |
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