Hello there. I need to know more about the mortgage life insurance for veterans.
Of course. The Veterans Mortgage Life Insurance VMLI offers mortgage protection insurance to the families of Veterans with severe service-connected disabilities who've adapted a home to fit their needs.
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I see. Do I qualify for that insurance?
You may be able to get VMLI if you meet all of the requirements.
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Let's say I do qualify, I apply for it, get accepted. Then I decide to move. Do I need to report this to keep my coverage?
In that case, you'll need to let us know if you move or transfer your mortgage from one lender to another.
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How do I know if I qualify for this insurance?
Do you have a severe disability that we've concluded was caused or made worse by your service?
No, none of that.
Then you can't get VMLI. Sorry.
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What do I need to pay when getting these benefits?
Your VMLI premium will be based on several factors, your age and the current balance of your mortgage loan, for example.
