Jeffrey Germagian, Era Key Realty Services-Bay State GroupPhone: (508) 395-0778
Email: [email protected]
Email: [email protected]
For U.S. military veterans, there are many financing options available for buying a home. What's typically called simply a "VA loan" can actually mean multiple specific types of loan. Depending on your situation, you might find one more helpful than the other. Here is a basic guide to the different types of loans available to veterans:
Loans offered by the VA are the only government-backed mortgages without a down payment requirement. With can save you thousands of dollars regardless of income or credit history. In some cases, you can combine a VA loan with your entitlement bonus to save even more.
Supplemental loans are there to help you with home maintenance projects. The VA offers supplemental loans to qualified borrowers and will allow you to add the amount to your current loan or take out a separate loan depending on your preference.
Renovation loans are perfect for veterans who want to buy a fixer-upper and finance the remodeling and repair expenses. A VA renovation loan will help you do exactly that--plus, you can usually finance up to the entire value of the home, which is more than other types of home improvement loans allow.
The VA offers special mortgage programs to promote installation of green systems or appliances. You can finance several thousand dollars worth of expenses for installing features like solar panels, tankless water heaters or low-flow plumbing fixtures. Not only will this kind of loan help you with the upfront costs, you'll end up saving money on your utility bills going forward.
Similar to renovation loans, construction loans from the VA will help you build a brand new house without a down payment. This type of loan comes in two types depending on logistics. One option combines the coverage for building the house and the ongoing loan, while the other splits it into two separate loans. Consult with a financial advisor or VA lender to determine which option works best for you.
Dating back to the 1970s when his father put him in charge of the family real estate business, Jeffrey Germagian has built a longstanding portfolio of real estate transactions and developments. Along the way, he has grown the family’s original company, then known as Baystate Realty, to the elite status it represents today as ERA Key Realty Services.
Although we’ve expanded our real estate offerings and our branding has evolved to represent all of the real estate services that we provide, ERA Key Realty, The Baystate Group still holds true to the honest business practices and principles that Jeffrey’s father set out with decades ago.
Jeffrey manages the Baystate Group which specializes in traditional home resales, land development, and 55 communities.
He lives in Hopedale, MA, and serves the local towns in the area including most suburbs of Boston as well as southwest of Boston. He is a Certified Residential Specialist and is fully licensed as a real estate agent to practice throughout the entire state of Massachusetts.
