Veteran's Real Estate - Sheila M. Wilkinson-Sanders

Heros Welcome Home

Supreme Manor Real Estate Services (SMS) is proud to be a part of the

Heroes Welcome Home Program

Being of Service to Those Who Serve Our Country Professional development program

Heroes Welcome Home is a curriculum that prepares REALTORS® to serve returning U.S. soldiers and their families by helping them address their housing needs. The program takes a comprehensive approach to educating REALTORS® and provides them with the tools and resources they need to effectively counsel veterans, including disabled veterans, on their real estate options.

Supreme Manor Real Estate Services rises to salute our members of the armed forces and our veterans.

Veteran Benefits

The Veterans Affairs Loan Program (VA Loan) is one of the only loan programs in the country that will allow you to purchase a home with no money down. Most conventional loans require a minimum 5% down, while the popular FHA (Federal Housing Authority) requires 3.5% down.

Because the government guarantees the first 25% of the loan, PMI or private mortgage insurance is not required on a VA loan. PMI is an added monthly expense required for conventional and FHA loans where the borrower finances more than 80% of the home's value.

The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, banks have relaxed the often strict lending rules for VA Loan applicants making them easier to obtain.

Since the loan is backed by the government, there are no credit requirements connected to the rate as is the case with a conventional loan. So the rates are much more attractive than a conventional loan and in many cases more attractive than an FHA loan.

The Department of Veterans Affairs’ Loan Guaranty program does not

impose a maximum amount that an eligible veteran may borrow using a VA guaranteed loan. However, the lending limit for veterans in Illinois is $417,000.

The veteran must certify that he or she intends to personally occupy the property as his or her home.

The unmarried surviving spouse of a veteran who died on active duty or as the result of a service-connected disability is eligible for the home loan benefit.

Disabled Veterans Are Eligible For Grant Money

An eligible veteran or service member may receive a VA grant of not more than 50 percent of the cost of a specially adapted house, up to the aggregate maximum amount allowable by law. The current maximum grant amount allowable at the time of this publication is $63,780.

The G-I Loan for Heroes is the new Illinois Homeownership Program for Veterans and Active Service Personnel. The G-I Loan offers significantly below market homeownership financing and counseling. There are two program packages, one for Veterans and one for active duty personnel.

November 9, 2010. Governor Pat Quinn unveiled the new Veterans Cash Lottery Ticket, a scratch-off ticket that benefits Illinois Veterans. All proceeds from the ticket go to fund rehabilitative programs and other services for Illinois’ Veterans. Since Governor Quinn championed the program in 2006, it has generated more than $8.4 million for Veterans organizations across the state.

Under a bill signed by President Barack Obama, Veterans with conventional home loans now have new options for re-financing to a Department of Veterans Affairs (VA) guaranteed home loan. The Veterans' Benefits Improvement Act of 2008 allows you to free up cash with a Cash Out Refinance, up to 90% of your current loan-to-value. Use the cash out program to pay off debt, make home improvements, or simply to have more cash on hand each month.

Heros Welcome Home

Illinois Veteran Job Fairs

Tuesday Nov. 8, 2011

Wednesday, Nov. 9, 2011

Thursday, Nov. 10, 2011