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Veterans United Home Loans to Reach $1,000,000 in Total Donations to United Way
This year, Veterans United plans on pledging $300,00 toward the Heart of Missouri United Way and will also be involved in volunteer efforts in what is becoming an increasingly strong local partnership.

The figure puts Veterans United over the $1 million mark in total contributions to United Way over the last four years.

In 2010, Veterans United matched employee donations dollar-for-dollar and contributed a total of $431,594 to the Heart of Missouri United Way as part of their annual community campaign. Their devoted participation in the event earned them the recognition as one of United Way's "Pacesetters" for the 2010 campaign. The title is awarded to the top contributors each year.

Last year's total nearly doubled the figure reached in 2009, when Veterans United employees pledged $222,744. The company's partnership with United Way began with a donation of more than $100,000 in 2008.

Led by local businesses, the annual campaign program is a key component in the Heart of Missouri United Way's mission. According to the United Way's website, the Mid-Missouri branch "works to improve lives of people in need by mobilizing and coordinating the caring power of community resources in mid-Missouri."

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Eligible Military Service Members and Veterans:
In general, eligiblity includes 181 days of peacetime service, 90 days war time service or 6 years in the reserve or National Guard. Some surviving spouses of veterans who died while in service or from a service-connected disability may also be eligible.
 
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Private Mortgage Insurance (PMI):
On most mortgages, borrowers who can't put down 20 percent of the loan amount are required to pay private mortgage insurance. It protects lenders against borrowers who default and also helps borrowers who can't muster a large down payment. There is no PMI on a VA loan.
 
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Department of Veterans Affairs:
A branch of the federal government that administers a variety of services for veterans, including the VA Loan benefit.

Guaranty:
With VA Loans, the federal government backs each mortgage with a promise to repay the loan amount should a borrower fail to pay.

VA Jumbo Loan:
A loan that's larger than the limit allowed in a specific region. Jumbo loans are rather complicated; contact us to learn more.
 
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Certain Situations:
VA Loans can't be used to purchase second or vacation home or rental properties.

Interest Rate:
The amount a lender charges a borrower to borrow money.
 
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Funding Fee:
A mandatory fee paid to the VA assigned to all VA Loans. The funding fee amount can be financed, meaning the cost won't come out of your pocket at closing. Borrowers with a service-connected disability are exempt from paying the fee.
 
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Closing Costs:
Closing costs are the charges and fees associated with processing and finalizing a loan. With the VA Loan, there are predefined closing cost limits: a 1 percent lender origination fee, reasonable discount points and other reasonable and standard fees and charges.
 
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Zero Money Down:
When no down payment is required. The VA Loan is one of the only remaining loans that doesn't require any money up front for a down payment.
 
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