We would like to state that if the shutdown is not long term, we understand that VA loan origination will be business as usual.
San Diego, CA (PRWEB) October 02, 2013
With annual funding for the government expiring on September 30, we are now in the midst of a government shutdown, which has many veterans and active duty service-members across the country wondering about the state of their benefits, including VA home loans. Many have questioned whether a shutdown will impact the processing of these VA-guaranteed mortgages.
The VA Home Loan Centers, a leading producer of government backed home loans, has announced they don’t anticipate there will be a delay in loan origination during the shutdown, based on information provided by the Veterans Administration.
“We would like to state that if the shutdown is not long term, we understand that VA loan origination will be business as usual. The only potential delays currently anticipated would be caused by a lack of interaction with the IRS, a crucial aspect of the VA loan funding process,” said Timothy Nash, general counsel and chief compliance officer for the VA Home Loan Centers.
The VA released an appropriations lapse plan, entitled the Veterans Field Guide to Government Shutdown, highlighting those areas of service that are impacted by the shutdown of the federal government, as well as the benefits that will remain intact, at least for the present time—one of which is the VA home loan program, meaning as of now, loan processing is still taking place.
About VA Home Loan Centers (https://www.vahomeloancenters.org)
VA Home Loan Centers is the premier lender of mortgage loans to veterans and active-duty members of the military. The organization works with borrowers to obtain both 15 and 30-year fixed mortgages, and eligible borrowers may qualify for rebates of up to 2.75% of the amount of their loan, when they apply with the VA Home Loan Centers. In addition to mortgage financing, VA Home Loan Centers can provide help to veterans with handling of military short sales, the processing of loan applications and purchase assistance. In addition to no money down and no closing costs options, the VA Home Loan provides higher debt ratios. VA-backed mortgages don’t require mortgage insurance premiums, offer low interest rates and borrowers aren’t subject to prepayment penalties.
Call 888-573-4496 to learn more about the program or click here to apply for a VA Loan.