Veteran Affairs (VA) does not issue Florida & Georgia home loans, but does guarantee them, which reduces the approved lenders’ risk and losses in case of a foreclosure. These Florida & Georgia loans are issued by private mortgage companies like banks, savings and loan companies, or mortgage companies that have been approved by the VA. Obtaining VA home loans gives veterans specific home loan benefits. Veterans home loans rates are available upon request.
VA Home Loans Details:
- Have lower income requirements
- Have more flexible credit score guidelines
- Have a lower interest rate
- Require no mortgage insurance
- Allow the veteran to have no prepayment penalty
- Require no down payment
- Allow the veteran to lower mortgage rates if the interest rates go down
- Allow the veteran to obtain assistance from the VA if in default
- Disabled Veterans maybe Eligible for Additional Loan Benefits Including:
- The VA home loans funding fee may be waived.
- In some states, property taxes are waived for disabled veterans.
VA HOME LOANS for HOMEOWNERS and HOMEBUYERS
1. Getting Pre-approved for Your VA Loan
Obtaining pre-approval for your VA loan amount is an excellent time-saving step. Once you know the exact amount you’re eligible for in your VA home loan, you can begin.
2. Eligibility for a VA Home Loan Guaranty
It’s easy to use an online program called ACE-the Automated Certificate of Eligibility-to get started in the VA loan guaranty process.
VA Home Loans for Veterans and Active Military
Veterans may also refinance their existing home for cash or to lower the interest rate. VA home loans have much more flexibility then FHA home loans or conventional mortgages, as to the maximum amount that you are allowed to borrow. VA home loans allow the most cash out on a refinance of any type of loan. Information on veterans home loan rates can be obtained by contacting us today.