The Florida VA Mortgage Program Offers Eligible Veterans Both Florida home Purchase and Home Refinance Programs.
VA mortgage benefits that only come with a VA mortgage:
- Easier qualification standards 100% loans down to a 580 fico!
- Less strict credit and Income standardsThe VA Mortgage guaranty program does not impose a maximum amount that a Florida veteran may borrow using a VA Mortgage but the Florida VA Loan limits the maximum guaranty amount to$$453,100.
VA HOME BUYER LOANS or VA MORTGAGE REFINANCE
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TheVA Mortgage program is one of the great steps our Federal Government has taken to benefit home buyers, and specifically, those who are Veterans and Active Duty personnel. The Mission of the Florida VA Mortgage is to help veterans and active duty personnel purchase and retain homes in recognition of their service to the Nation.
What is a VA Loan? In 1944, the U.S. government created a military loan guaranty program to help returning service members purchase homes. The result, the VA Loan, is a mortgage loan issued by approved lenders such as Veterans United Home Loans and guaranteed by the federal government. Since its inception, the VA Loan program has helped place more than 20 million veterans and their families into an affordable home financing situation through its distinct advantages over traditional mortgages.
Today, the VA Mortgage program is more important than ever to service members. In recent years, lenders nationwide have tightened their lending requirements in the wake of the housing market collapse, making the VA Loan a lifeline for military homebuyers, many of whom find difficulty when faced with tough credit standards and down payment requirements.
Like all mortgage programs, VA Mortgages have considerable details and information to review. We at Veterans United Home Loans encourage you to use our website’s resources to educate yourself on the specifics of this exclusive home loan benefit. If you have further questions, we invite you to call a VA mortgage.
VA Mortgage vs. Conventional Mortgages
Military homebuyers have access to one of the most unique and powerful loan programs ever created. See how the VA Mortgage compares to a traditional home mortgage:
|VA Mortgages||Conventional Loans|
| 0% Down (for qualified borrowers)
VA Mortgages are among the last 0% down home loans available on the market today.
|Up to 20% Down
Conventional loans generally require down payments that can reach up to 20% to secure a home loan, pushing them out of reach for many homebuyers.
| No PMI
Since VA Mortgages are government backed, banks do not require you to buy Private Mortgage Insurance.
|PMI Monthly Required
Private Mortgage Insurance is a requirement for borrowers who finance more than 80% of their home’s value, tacking on additional monthly expenses.
| Competitive Interest Rates
The VA guaranty gives VA mortgage lenders a greater degree of safety and flexibility, which typically means a more competitive rate than non-VA Mortgages.
|Increased Risk for Lenders
Without government backing, banks are taking on more risk which, in turn, can result in a less-competitive interest rate on your home loan.
| Easier to Qualify
Because the loan is backed by the government, banks assume less risk and have less stringent qualification standards for VA Mortgages, making them easier to obtain.
|Standard Qualification Procedures
Conventional options hold stricter qualification procedures that can put homeownership out of reach for some homebuyers.
“All veterans and other participants in the program will be treated in a courteous, responsive, and timely manner. We will endeavor to operate in the most efficient manner possible to minimize costs and ensure the best use of the taxpayer’s dollar.”
When you’re looking for a Florida VA Mortgage, the last thing you want is an excuse–you need results, right?
Rest assured in knowing that we offer expert specialty service for specialized programs just like the VA Florida home Loan. Our loan officers have a wide range of expertise; in fact, many choose to select niche programs as their primary focus to better help VA Florida home Buyers become Florida homeowners. We can help to quickly refinance your current Florida home loan too!
With both options, you’ll be presented with Great Rates and great confidence that our specialist can get the job done right for you the very first time. No excuses…just results!
And if you have challenged credit, that’s okay too! Our specialist will work with you, not against you. We’re partners with a single, identical goal of helping our clients achieve their Florida home financing goals.
So, what makes our Florida VA Mortgage programs different? The answer is our people, experience and product knowledge.
The Florida VA Mortgage program offers two primary products:
- The VA Florida home Buyer Program – This Product Is Designed To Help Eligible VA Veterans And Active Duty Personnel To Achieve Florida home Ownership.
- The Florida VA Mortgage Refinance Product – This Product Offers Traditional Rate & Term Refinancing, A Cash-Out Refinance Choice & A Streamline Refinance For Existing Florida VA Mortgages.
Florida VA Mortgage Interest Rates
We believe we offer VA Florida homebuyers some of the lowest interest rates and closing costs available in the industry today.
Please do know that rates are changing on an a continual basis, so until we are able to lock in your rate, they are always subject to change. The money we lend to Florida homebuyers and refinance clients comes from the same pool as conventional lending funds. The difference is, the VA insures the loan rather than a private mortgage insurance policy (PMI). As a result, the interest rates are tied to the same market factors as conventional rates.
To get today’s low rate, just give us a call!
All to often, the cost of obtaining any mortgage can be quite expensive. Thankfully, there is some good news though…
We work hard to keep your closing costs to an absolute minimum. In addition, the VA regulates the closing costs that a veteran may be charged in connection with closing a Florida VA Mortgage.
Fixed Rate Or Adjustable?
With the VA Florida homeloan, you can can choose either a fixed rate Florida VA Mortgage option or the adjustable interest rate option. It’s all based upon your financial needs and preferences. Our Florida VA Mortgage originators will go into much more detail with the options you have based upon current VA lending limits and available mortgage products.
Once you’ve selected your Florida VA Mortgage program, the VA will actually order your appraisal. This is great because it means you know you have an independent third party making decisions on the quality of the Florida homeyou’re about to buy.
What you need and want is not only the best rate at the lowest cost, but a company that delivers low-cost results…not tricky catch phrases, not empty promises, and most certainly not paying for a big company name and the expensive advertising budget that goes along with it.
We believe that we have your interests in mind each step of the way. Our company was created to give Florida homebuyers better choices by connecting you with specialists who deliver outstanding results for less. Why not Apply Now?
Fixed Rate Florida VA Mortgages
Why are fixed rate Florida VA Mortgages so highly recommenced?
To begin with, a fixed rate Florida VA Mortgage offers security in knowing your mortgage payment is not subject to change. The mortgage “melt-down” really proves this out. Providing stability is a wonderful thing and something a fixed low interest rate loan can do very reliably. Although the fixed loan type limits options, it does provide a long term strategy to equity and security.
The underwriting is no different, nor is the qualifying; and typically, your cost to close is very comparable too. As an added benefit, you can use the fixed rate Florida VA Mortgage program for both a traditional Florida homepurchases and for buying a manufactured home. It is the combination of all of these notable benefits that continues to give qualified Florida VA Mortgage applicants a wide range of choices.
Choosing Your Option
Trying to decide whether an adjustable rate mortgage or a fixed rate program is best for your circumstances can be daunting, to say the least. That’s where we come in. Your Florida VA Mortgage specialist will be able to take your information and tailor specific options for you based upon the programs available.
So, why wait and longer? Why not send over a Quick Inquiry and one of our Florida VA Mortgage specialists will be in touch with you before you know it!
What Specific Costs Are Involved?
Although some additional costs are unique to certain localities, the closing costs generally include VA appraisal, credit report, survey, title evidence, recording fees, a 1 percent loan origination fee, along with other miscellaneous costs which are fully disclosed on your Good Faith Estimate. The closing costs and origination charge may not be included in the loan, except in VA refinancing loans.
In addition to negotiating the interest rate with your loan specialist, you may negotiate the payment of discount points and other closing costs with the seller. Often, sellers will consider paying some or all of the discount points charged in your loan in order to complete the sale.