Military Veteran Franchise Opportunities

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Military Veteran Franchise Opportunities
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Military Veteran — After you have valiantly served your country, you will no doubt be looking to do something that is exciting and replaces that fun filled job that you left behind. If you have been working in an exciting career while in the Military, the last thing you want to do is go to work in a boring job!

Many Veterans transition to finding a “job” while others want to be their own boss and carve out their own niche in the world. If you were launching jets off a carrier, going to work for McDonalds just might not be your cup of tea. You want to find something that matches your energy and is filled with excitement.

There are many franchise opportunities out there, but which one is going to fulfill that “fun factor”? Will the carpet cleaning franchise fill the bill? Probably not. How about a blind cleaning franchise? I think you know the answer to that one too.

While you are searching for a franchise, seek out franchises that are Military Friendly. These companies offer a special rate or discount to only Military Veterans in honor of their service to our country. Our Veterans deserve many things for their service and a significant discount to help them start a business while they are starting over is something that will serve them well and secure their future!

Military Veterans historically do well when they own their own franchise. With the discipline and ability to seek out solutions rather than focus on the problem, there is no obstacle that the Military Franchise owner can overcome. This is what Veterans are taught to do during their Military service.

When they apply that to their business, great things happen. Another thing that makes them successful is that a franchise is a set of systems with procedures and checklists. The Veteran is well versed in how to follow procedure and checklists to accomplish critical tasks. This naturally offers them a plan to follow for success.

Also read article about Military Payday Loans

When interviewing Military Friendly franchises, ask them how many military members are on their team. Ask them if the leadership is prior service. Would you rather invest in a franchise that was owned by a Veteran or one that was trying to capitalize on your talent by being “Military Friendly”?

The key to investing in a Military Veteran Franchise Opportunity is finding an opportunity that fits you. Find something that you can put your heart and soul into and you will be successful. Stay away from the get rich quick ideas and base your decision on the best career field for your interests.

There are many franchise opportunities available today. Few of these opportunities offer Veteran programs and are Military Friendly. You were part of a large team while you were in the Military and joining a team that has your best interests in mind is something to consider when making your decision.

The Emergency GI Bill Payment program was introduced in the beginning of October in response to reported hardships caused by delays in GI Bill benefits. The following information addresses the most frequent inquiries regarding the latest details of the Veteran Administration’s emergency payment process.

If you are a veteran who is presently enrolled in school and eligible under one of the VA’s education programs, you qualify for education advance payments as long has you haven’t yet received your monthly payment benefit. Those who have applied for their education benefits but have not yet received their monthly installment can receive payments of up to $3,000. The amount allotted to you is based upon the benefit payable under your educational program.

To apply for an advance payment, you can now complete the process online at . Or, you can go to the VA regional office closest to you in person to receive an advance pay. Regional offices are now open between the hours of 8:00 am and 6:00 pm on weekdays for advance payments. (To view a list of regional offices with their locations, log on to ) If you need transportation, you can request the free van service provided by volunteers, which is on a first-come, first-served, space availability basis.

If you make your request online, the advance payment will be issued by the U.S. Treasury within three workdays after submission. Payments will be made in the form of a check and delivered by US Mail. However, if you elect to go to the regional office to pick up an advance payment, you will need to provide a government-issued photo ID and poof that you are enrolled in school (i.e. class schedule, letter from the school admissions office). Also, it’s important to note that you must appear in person to pick up your check. You cannot send someone in your place. If you are unable to get there, the VA recommends that you apply online.

Some Veterans have asked if they are still eligible for a $3000 advance payment if they received their October 1st education payment. The answer to this question is NO. Advance payments are only approved for those Veterans who haven’t yet received their monthly installments for the fall 2009 school term.

Only one payment is authorized per Veteran, based on which GI Bill program you are enrolled in:
Post-9/11 GI Bill – $3,000
Montgomery GI Bill -Active Duty $3,000
Montgomery GI Bill – Selected Reserve $1,000
Reserve Education Assistance Program $2,000
Post Vietnam Era Educational Assistance Programs $1000

Another question often asked is if a Veteran has to pay this advance payment back. The answer is that the payment will be recouped from your future VA payments. However, if you stop attending class during the semester to reduce your coarse load to a level that affects your monthly benefit, full recoupment by the VA may not be possible, and you will be responsible for repaying any remaining balance.

Also, advance payments can only be issued to U.S. mailing addresses and are not available to dependents, only to Veterans.

For the latest information concerning Military education benefits and procedures, please visit your education counseling office.

This article is based on publicly-accessible information and has not been reviewed or approved by any military branch.

Though many people only associate VA loans as a great means for veterans to purchase existing homes or refinance those that they already own, they can actually be used for new builds as well.

A Slightly Different Process

Military Veteran
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The opportunity to build yourself a new home can be an amazing, once-in-a-lifetime chance, so it is important to understand the process needed to borrow money to do so through the VA Home Loan Guaranty Program. The way that this system works for new builds is slightly different than it is for existing homes and refinancing.

Just as with the latter, you will need to prove entitlement (veteran status) as well as have a qualifying current income and credit score and certain VA funding fees will be applied. The difference comes in the way that the loan is distributed and the payments that you will need to make, these distinctions are important for you to understand before undertaking the VA home loan for new builds process.

Specific Requirements

If your goal is to use a VA home loan to build a new house, then one important factor that you need to look for is that the builder that you choose has a current valid VA builder ID number. Basically, this ID number will prove that the contractor has registered with the U.S. Department of Veteran’s Affairs.

The mortgage process for VA loans on new homes begins only after the contractor is selected. However, the loan needs to be approved before that contractor is able to break ground. At that time the borrower will be provided with written permission from the bank that will pay the builder the amount designated by the VA for the construction of the home. Any money that remains after that point will be transferred to an escrow account.

Payback System

The typical payback plan for VA home mortgages that are applied to existing homes as well as refinancing is to require a payment from the veteran home owner within 30 following the loan closing. New construction loans are different, however, because the requirements for payback do not begin until the home is ready to be occupied. The general rule is that veteran borrowers can delay their first payment for up to 12 months post-closing in order to allow the builders to complete construction on the new home.

Just because the borrower is allowed to delay the payments on the home until it is complete, it is important to note that the contractor is required to make interest payments each month throughout the construction of the home and that interest begins to accumulate immediately. Also, the year spent building the home is deducted from the loan’s term. Meaning that the borrower will only have 29 years to pay back a 30-year mortgage if the construction takes a full 12 months.

Fees

During the construction phase there will be many fees that accrue and they will be the responsibility of the builder. Due to the specific guidelines set forth by VA loans, the borrower is not required to pay these fees. VA-approved builders are also required to carry hazard insurance and they must pay for all title-update fees.

Finally the funding fee that is charges for all VA home loans will still apply if you are borrowing money for a new construction. This fee must be paid within 15 days following the loan’s closing, though most borrowers choose to pay that fee at the time of the closing. However, if you are a disabled veteran or the surviving spouse of a veteran you may not be required to pay that fee, so it is a good idea to check.

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