On Wed, 13 Feb 2008 16:15:26 -0500, "Eisboch" wrote:


"Short Wave Sportfishing" wrote in message
.. .
On Wed, 13 Feb 2008 11:38:45 -0500, "Eisboch" wrote:

I don't know how or when the benefit package changed, but I was active
duty
from '68 to '77. Continued school after I got out with full GI benefits
and purchased my first house with a VA backed loan.

Yes you could, but you could get a commercial loan for .25% less than
what the VA authorized and there was considerably less paperwork.

And it wasn't a full "loan" - it was a security backed loan with a
guarenteed down payment - not the full loan like WWII vets got.


It really wasn't a loan at all. The VA simply "co-signed" in a way, my
application for a mortgage.

Eisboch


I believe the VA guaranteed repayment of a percent of your loan. I don't
recall what the percent was, but I think that's how it worked.
--
John H