If you’re a veteran, or someone in your family is, then you will be able to engage in a range of benefits. Such as additional life insurance policies and health care.
Veterans often have their career cut short due to injury. In those times, the federal government can offer veterans assistance in paying for school or training courses, in order to educate themselves into a different line of work. There is also the opportunity for career counselling.
As a veteran, you or your family will be eligible for certain loan and mortgage programs, through a VA loan. This refers to those who have retired or are active within the military, as well as surviving spouses.
They offer competitive interest rates with no down payments straight away, and limited closing costs. The Department of Veteran Affairs created these programs as a way of saying thank you to those who have served their country. Their main purpose is to allow veterans to purchase homes without down payments or high credit scores.
There are different types of VA loans, such as a home purchase, cash-out refinance, interest rate reduction refinance, Native American direct loan and adapted housing grants. To find out more about VA loan income requirements, and if you’re eligible, you should contact a veteran specific provider, such as Hero Loan. You will be able to find out how the policies can affect you or a family member, with expert advice given.
If a veteran within your family has served on active duty during a war and is at least 65 years of age or has a disability from their service, then they may be eligible for a veteran’s pension program. They will have either limited income, or none at all, in order to qualify.
You must not have had a dishonorable discharge of any kind, and you need to have served at least 90 days on active duty, and one day during wartime if you served before 1980. For those who served after 1980, you need to have served at least 24 months or the full period for which you were called for active duty, with at least one day during wartime again.
There are a variety of disability compensation schemes for veterans ranging from sickness or injuries whilst serving. It’s a program for veterans whose service made a new condition or an existing condition worse. VA disability benefits are for both physical conditions and mental health conditions, such as PTSD.
You can file a claim either on the phone with the VA government branch, or by mail. They will assess your application and return their decision, which you can appeal if you disagree. There are also VA disability benefits available to surviving spouses, dependent children or parents.