Thursday, March 5, 2015

Can Former Military Personnel Receiving VA Disability Grants Apply For And Be Granted VA Disability Loans?

By Leslie Ball


Currently, two of the chief roles of our armed forces are to maintain the country's safety and to combat terrorism in various countries. In order to achieve these goals, the military deploys different units that are all made up of dedicated men and women that want to serve their country. Being in the military, though, is a dangerous occupation and members routinely risk their lives. On occasion, members of the armed forces get injured, are eligible for VA grants and then find it necessary to seek VA disability loans to stabilize their financial situation.

By its very nature, service in the armed forces is dangerous and not all members return unharmed. Serving in the air force, navy or army can expose members to a lot of danger. Inevitably, some of them will be injured while fulfilling their role.

Injuries sustained by military personnel are sometimes of a temporary nature and will heal over a period of time provided proper medical care is provided. Some more serious injuries, though, can result in permanent conditions. Aside from the physical injuries, there are also psychiatric conditions like post-traumatic stress disorder that, if severe enough, can also be medically classified as a disability.

Armed force members that sustain a serious injury may be discharged from the military on medical grounds. Usually, ongoing medical care will be provided to these people by VA medical centers. A monthly grant may also be awarded to them to allow them to afford living expenses and be able to return to a new life in civilian society.

Going back to civilian life, though, can be very expensive initially and many ex-military members seek loans that will help them with the financial pressures of the process. Often people think that it is very difficult for former military members to get loans compared to to ordinary civilians. This is not always the case, though. Actually there are some loan providers out there that give special treatment the former military members that are getting a VA grant.

Military veterans should approach a lending institution that is well-disposed towards lending money to those that have served in the armed forces. In this way they may find that they benefit from more favorable lending terms than most borrowers. They may also find that less stringent criteria are also used when their application is considered.

Ex military members receiving a grant from the VA frequently find that they are offered home loans with a very small down payment, or sometimes even no down payment at all. Many lenders realise that the grant money coming in every month makes it possible for them to service realistic loans. When this factor is added to the inherent personal discipline that most ex-military possess, you have potential customers that are targeted by some lenders

The fact that loans can be provided to VA grant recipients is encouraging. Being able to access financing allows former armed service members that were injured while serving to re-enter civilian society. Loans come in many forms and with different conditions, so people receiving a VA disability grant need to carefully look and decide on the best loan for them.




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