Q. I recently left military service to go to trade school. I was wondering if when I get a mechanics job, I could use my VA loan for tools to perform the job.
A. The only VA loan I know of is toward purchase of a home, and the VA only guarantees the loan. It does not write the check.
I don't know of any VA programs that will let you buy "tools of the trade" once your training is complete. Check with your local VA office or www.va.gov
I don't know of any VA programs that will let you buy "tools of the trade" once your training is complete. Check with your local VA office or www.va.gov
Is it possible to buy another home?
Q. I have heard that after a foreclosure, short sale, deed in lieu if foreclosure, with a down payment and possibly a veterans backing loan it is possible to own another home a year or two out. Is this true?
A. Even the VA would most likely require 3 years. Although they don't base everything off credit scores, they review credit history and a foreclosure recently would prevent them from approving the deal. They specifically look at the past 24 month history to review payment patterns on the mortgage history and with a foreclosure you'll at least have to wait more than those 2 years.
Is it true you can get a $200k Veterans affair loan to start a bussiness?
Q. Because, I served in the Army for four years, have been to the middle east, got honorably discharged, and now go to Film school. I would like to get a loan, to start a business, when I get out. Or use that money to make an independent film/video. Also I have bad credit, does the VA care?
A. The Small Business Administration and the VA have resources to help you start your own business, but they do not actually loan you money. The SBA will help you get a loan from a lender for up to $500,000. They "guarantee" a percentage of the loan to the lender in case you default payment, which helps you get the loan, but you still must have a solid business plan, financial statements, and some kind of collateral. If your business fails, you are still responsible for the full dollar amount of the loan.
Are there any grants or other resources for veterans looking to buy an existing business?
Q. There is a restaurant for sale that I am interested in buying. I am a veteran of Operation Iraqi Freedom, so I was wondering if there are any special opportunities for veterans as far as grants and such for buying a business.
Any help would be appreciated! Thanks!
Any help would be appreciated! Thanks!
A. Go to the SBA website. There is a new loan program called the Patriot Express. It is similar to the home loan program where they gaurantee a certain % of the loan. Good Luck!
How do you find Veteran home buying grants?
Q. Does the government offer any grants for veterans who are looking to buy thier first home? If so, how would I go about finding information on them.
A. VA LOANS UNDER THE GI BILL GO TO YOUR LOCAL VA OR VA.GOV AND READ ALL ABOUT IT FROM BUISNESS TO HOMES
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