Florida VA Loans
If you are a qualified veteran looking to relocate to Florida, you should consider taking advantage of the VA Loan guaranty program. With a VA guaranty, you can qualify for a much bigger loan without incurring huge costs. Here are just a few of the benefits you will receive when going through the VA to obtain your loan:
No Down Payment
With most conventional loans you are required to pay anywhere from 5% to 20% of the house price as a down payment in order to secure a loan. With a VA Loan in Florida, you can take out a loan in the upper six figures and still not have to provide a down payment on the house.
No Monthly Insurance
A VA Loan is basically an insurance policy that protects your lender from possible loss. Because of this, you are not required to pay private monthly insurance on your loan.
Low Interest Rates
Veterans with a VA Loan guaranty are very desirable borrowers, which means you can get very competitive interest rates on your loan. In some instances you may even be able to negotiate an interest rate that is below the current mortgage market rate.
Minimal Closing Costs
While you are still required to pay the closing fees associated with procuring the loan, the VA has put a cap on how much you can be charged. You will never be hit with a big bill at the end of the loan process.
Once you have a VA Loan, it is very easy to refinance. The VA offers an Interest Rate Reduction Refinance Loan (IRRRL) which is nicknamed the VA Streamline Refinance because it is such a simple, affordable process.
The VA wants to help its veterans in everyway they can. Whether you have questions, concerns or find yourself in financial trouble, the VA is there to offer support and assistance to you.
Find Out What You Qualify For
Want to find out how much you qualify for? It’s never been easier. Just fill out our secure 1-minute quote request form and you can get a rate quote today.
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