iFreedom Direct Corporation, a Salt Lake based VA specialty lender, publishes articles that may be helpful to many military members considering taking advantage of their VA home loan benefits. A recent article published on the company’s website is entitled VA-owned properties for sale and has information about foreclosed properties and how to finance them.

VA real estate owned (REO) properties can come into the possession of the U.S. Department of Veterans Affairs as a result of foreclosure of a home financed with a VA loan. The VA REO inventory can be found through a link on the VA home loan benefits webpage as well as on local real estate multilisting sites (MLS). The article mentions that anyone, civilians and military members alike, can purchase VA REO properties. And, the properties can be financed in any way the buyer chooses. Two options for purchasing VA REO property may include veterans’ loans and Vendee financing.

A VA loan is one originated and funded by a VA-approved lender and guaranteed by the federal government. VA loans are for qualified active duty military members, retired veterans and certain surviving spouses. Not only can a VA-backed mortgage be obtained for as little as zero cash down, but credit and income requirements may be less stringent than with traditional lending programs. A VA mortgage requires owner occupancy.

Vendee financing can be obtained directly through the VA. This mortgage product is designated for the financing of VA REO properties only.

Both veterans and non-veterans can qualify for Vendee financing.

A VA REO property can be purchased with Vendee financing for as little as 5% down. Vendee financing does not require owner occupancy. Both VA-backed mortgages and Vendee financing require a VA funding fee. iFreedom is a top-ranked VA lender providing the country’s military affiliated with federally-backed mortgages through the VA Home Loan Guaranty Program. With informative articles like the one about the VA-owned properties for sale, iFreedom can target millions of veterans who want to know more about their VA home loan benefits.

iFreedom Direct’s Marketing Director, Rich Warner, says, “It is our duty and honor to provide military members with updates that can help them understand the VA home loan program better.”

To learn more about how VA loans from iFreedom Direct, visit www.directvaloans.com.