Loans For Military Retirees

Military retirees make up a unique segment of the American population. Many hit retirement at the age of 38, which is very young by today’s standards. Several will continue to work and retire again from another career twenty years later. However, this difficult economy has made many retired military personnel start looking for loans for military retirees.

Finding the Best Loans

As a retiree, you have a monthly income. However, it’s also a fixed income. Many lenders that are less than reputable will look to retirees as a means of completely guaranteed loans.

They know that these are responsible people and that the loan payment will be made. In some cases, the loan payment will be made over other essentials, such as electricity bills or food.

However, there are lenders that specialize in lending to military retirees and they are not out to get the most money from them that they can.

Omini and Pioneer are two such military retiree lenders.

These companies are owned by individuals who have also retired from the military and they understand more than anybody else the special needs that can affect this segment of the population. 

What Types of Loans for Military Retirees Are Available?

There are home and auto loans, personal loans and educational loans available for military retirees.

The VA offers home loans for veterans and these are at a substantially lower rate than those loans with traditional lenders.

You will still need to qualify with a good credit score and verifiable income.

The VA will inspect the home and will require more stringent guidelines than other lenders. This will help insure your home has no problems that will cost you thousands to fix later on.

There are also personal loans available and they do not require you to put up collateral.

The better your credit, the better chance you have of approval, but there are loans for those with less than stellar credit as well.

These loans can be used for any purpose, including paying off other bills, car or home repairs or any number of other expenses.

Apply Online

It’s easy to apply for a loan online. The key is knowing which lenders to use and which to avoid. This can be difficult to ascertain.

There are a couple of lenders that really stand out. Pioneer and Omini are two that are owned by military retirees and will help you out of your financial situation.

When you complete the application online, you will get an answer quickly. You can forward the information the lender needs and once the paperwork is finished, the money is deposited directly into your bank account.

You can set up payments through automatic withdrawal, so you don’t have to worry about a late payment.

Choose the Right Lender when Looking for Loans for Military Retirees

You’ll find that many lenders target military retirees for high interest rate loans simply because they know there’s a guaranteed income into the home.

Make sure that you use a lender that really cares about you and understands the military lifestyle. This will make things a lot easier down the road.