A new program offered by NewDay USA, a nationwide VA mortgage lender, is designed to help active servicemembers and military veterans purchase homes with no down payment and no money out of pocket for closing costs.
While traditional VA mortgages do not require a down payment for qualified borrowers to purchase their homes, veterans still need to bring money to the settlement table to cover closing costs. Many veterans, however, would rather have the security of money in the bank, or be able to use their savings for the cost of moving or furnishing their new home. NewDay USA’s Operation Home program is designed to work with Realtors across the country to understand how to maximize a veteran’s VA benefits.
“Veterans and their families have made great sacrifices to protect our freedom, and we want to help them achieve their own share of the American Dream,” said Rear Admiral Thomas Lynch USN (Ret.), executive chairman of NewDay USA, in a press release. “With Operation Home, our Veterans will be able to purchase the home of their dreams without taking one dollar out of their pockets for a down payment or closing costs.”
NewDay employees come to work each day with the noble purpose of helping a Veteran buy a new home. Located at NewDay USA headquarters, NewDay University trains and develops mortgage bankers to counsel Veterans to understand their valuable VA benefits, and guide them through the mortgage process.
“With Operation Home, Veterans and active Servicemembers don’t have to save up to move up,” said Rob Posner, CEO of NewDay USA. “We have 500 employees who come to work every day with the sole mission of serving Veterans.”