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ProfBU OP t1_izy5286 wrote

Reply to comment by Architeckton in I’m Cornelius Hurley, academic, lawyer, 14-year director of a Federal Home Loan Bank. Ask me anything about the FHLBs. by ProfBU

My first home was purchased with -0- down payment courtesy the VA and the GI Bill.

How about a similar benefit for a year of national service?

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lilbluehair t1_izy6449 wrote

Standard term in AmeriCorps is 10 months. I loved my time and think everyone should get to do it, but I had to work a second job to pay rent and had zero savings.

This idea could work if we also subsidized housing for the folks doing the service.

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badpeaches t1_izze9o5 wrote

> My first home was purchased with -0- down payment courtesy the VA and the GI Bill. > > How about a similar benefit for a year of national service?

You didn't have credit ratings back then.

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H2-22 t1_j00g77l wrote

I have had a zero down VA home loan. Lots of service members and veterans have. I was in the 2nd Iraq war.

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badpeaches t1_j00p8ai wrote

You can get approved for the loan with subpar credit ratings?

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[deleted] t1_j023dt9 wrote

[removed]

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badpeaches t1_j024jjt wrote

> VA and FHA loans don’t have strict credit rating requirements,

The loans don't but you can't get the loan from a bank with bad credit.

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