While veteran mortgages are geared toward service members, they can, of course, be utilized by the surviving spouses of military personnel.
Chicago, IL (PRWEB) September 09, 2013
On September 3rd, Corvias Group, a development, construction and property management firm based out of Rhode Island, announced that it has awarded $100,000 in grants to spouses of active-duty service members through its Our Family for Families First Foundation. Twenty military spouses will receive $5,000 each to put toward their secondary educations.
"Our goal in setting up the Foundation seven years ago was to find a way to give back to the service members by supporting their spouses and children in their pursuit of higher education," said John Picerne, Foundation founder and CEO of Corvias Group. "We are extremely proud of this year's worthy grant recipients and look forward to seeing what they accomplish in the years to come." The Federal Savings Bank, an institution specialized in veteran loans was inspired by the story and listed it on their website as the main headline for September 9th.
"Anytime we hear about grants and fund raising being issued to military families we are very supportive and spread the word," says Nick a banker at The Federal Savings Bank.
This sentiment was echoed by Maria Montalvo, executive director of the Foundation."We are honored to support the hopes and dreams of this year's deserving grant recipients," she said. "Providing military spouses with support in pursuing secondary education is just one of the many ways that we strive to give back to our communities and improve quality of life for our service members and their families."
VA home loans give spouses low-cost mortgage options. The benefits of a VA home loan are impressive. The Federal Savings Bank always informs its veteran applicants that eligibility for a VA home loan will save them thousands due to a lack of a down payment requirement. While veteran mortgages are geared toward service members, they can, of course, be utilized by the surviving spouses of military personnel.
According to the U.S. Department of Veterans Affairs, the spouse of a veteran can apply for a VA home loan if they meet one of the following requirements. First, if they are the un-remarried spouse of a veteran who died while in service or from a service-connected disability. Second, if they are the spouse of a service member who is missing in action or a prisoner of war. Third, if they are a surviving spouse who remarries on or after reaching age 54, and on or after December 16, 2003. Forth, or lastly, if they are the surviving spouse of totally disabled veteran whose disability may not have been the cause of death.
A veteran loan can help the spouses of the brave men and women of the armed forces finance a home purchase and make their dream of homeownership come true for themselves and their families.
Contact The Federal Savings Bank, a veteran owned financial institution, to explore VA home loan eligibility and the veteran home buying process.