San Diego, CA (PRWEB) January 24, 2014
VA Home Loan Centers announced today that it is updating its policy regarding mortgage benefits to married same-sex couples as a result of recent changes in state laws.
In September, VA Home Loan Centers was the first military mortgage provider to begin offering VA (Veterans Administration) Guaranteed mortgage financing to married same-sex couples. Now, as more and more state laws change to recognize the marriages, VA Home Loan Centers is expanding the program in the following states: California, Connecticut, Delaware, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New Jersey, New Mexico, New York, Rhode Island, Vermont and Washington, as well as in Washington, D.C.
"VA Home Loan Centers applauds the recent advancements in civil rights,” says Chief Loan Steward Phil Georgiades. “All of the brave men and women of our armed forces deserve affordable home ownership that the Veterans Administration Guarantee provides. With the addition of these new states, home ownership qualification should increase for those who were previously excluded."
Under court rulings, benefits offered to a married couple of the opposite sex must be offered to married same-sex couples, including veterans’ benefits. Among these popular programs is the VA Home Loan Guarantee, which offers veterans and their families mortgages that feature low interest rates and monthly payments and no down payments or closing costs on their real estate transactions, among other advantages. The program can be used to buy new construction, buy an existing home or condo, refinance a mortgage, or make repairs or home improvements, including improvements to energy efficiency.
Prior to the Supreme Court’s ruling that the federal Defense of Marriage Act (DOMA) discriminates against same-sex couples, this benefit was available only to veterans and their opposite-sex married couples. The recent decisions in several states to legalize same-sex marriage allow VA Home Loan Centers to offer this benefit to same-sex couples in those states, even if one member is not in the military or otherwise eligible for the benefit. The expansion of benefits applies only to married couples and does not affect couples in domestic partnerships.
"United States v Windsor" (Defense Of Marriage Act; Supreme Court Ruling) June 26, 2013. Retrieved 2014-01-13 http://www.supremecourt.gov/opinions/12pdf/12-307_6j37.pdf
"States Acknowledging Same Sex Marriage" January 6, 2014. Retrieved 2014-01-13 http://gaymarriage.procon.org/view.resource.php?resourceID=004857
About VA Home Loan Centers (https://www.vahomeloancenters.org):
VA Home Loan Centers is a network of qualified lenders originating for United States veterans, active duty military and their families. VA loans are available in 15-year and 30-year terms. Eligible borrowers who apply through VA Home Loan Centers may qualify for a rebate of up to 2.75% of the loan amount. VA Home Loan Centers assists with military short sales, PCS relocation, purchase assistance and loan application processing. VA loans offers higher debt ratios as well as the no money down / no closing costs option (VA no-no). The loan program requires no mortgage insurance premiums, no prepayment penalties and offers low interest rates.
Call 888-573-4496 to learn more about the program or click here to access the application.