The tax credit ended for all other homebuyers on April 30th, but veterans who meet eligibility criteria have until April 30, 2011 to secure a sales contract and until June 30, 2011 to close the sale in order to qualify for the credit. The credit applies to veterans who have served a minimum of 90 days of active duty between December 31, 2008 and May 1, 2010. Even veterans who were discharged for medical reasons prior to their 90 days of active service remain eligible to take advantage of the credit.

In order to keep momentum going in the real estate market, the Fed is keeping rates low. In fact, rates dropped to their lowest point in five months just this week. This added benefit ensures maximum home affordability for veterans, making it a great time to consider buying a home.

Idaho VA Loans are, of course, even more attractive than traditional Idaho home loans, offering the lowest rates in the industry as well as the only remaining option for purchasing a home with a zero down payment. Consider the many affordable homes on the market today, and take advantage of your ability to obtain an Idaho VA Loan combined with the many other perks available for real estate buyers right now.

Zero-down loans are pretty much a thing of the past in the wake of the mortgage crisis, with the exception of Idaho VA Loans. The VA loan program is one of the few remaining programs available that allow home buyers to purchase a home without making a down payment. But is that benefit soon coming to an end?

Recent proposals to require down payments on home loans to avoid future housing market meltdowns could affect the Idaho VA Loan Program, but many experts are advising that new regulations shouldn't apply to VA loans. Proposed changes are designed to apply to all types of home loans, including those backed by government guaranty -- VA Loans and FHA Loans.

Representatives from the Veterans Affairs Department and other advocates advised Congress on May 20th that the proposed stricter regulations would prevent a significant number of Veterans from being able to purchase a home -- even if the required down payment were five to ten percent.

Currently, over 90 percent of VA Loans are zero-percent down, according to Thomas Pamperin from the Veterans Benefits Administration. The opportunity to purchase a home with no money down is one of the primary benefits of the VA Loan Program, and it's the primary feature that ensures Veterans are able to afford a home.

Already, some lenders are adding extra requirements above what's required by the VA, such as requiring a down payment or a minimum credit score. While the VA doesn't institute these requirements, they don't prevent lenders from doing so.

The VA Loan Program has given the housing market a boost, by guaranteeing hundreds of thousands of home loans over the past few years in the midst of our housing crisis. It's also worth noting that VA Loans historically have shown lower rates of delinquency than other types of loans.

Advocates from the Veterans Affairs Department will continue to work to preserve the benefits and integrity of the VA Loan Program that benefits so many men and women who have served our country.

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