West Palm Beach and Boca Raton VA Loans
Housing prices in West Palm Beach and Boca Raton have always been quite high, but with a VA Loan they are still very affordable for qualified veterans. Since 1944 the VA Home Loan Guaranty Program has been helping veterans buy new houses by extending great benefits to them. These benefits have made the loan process simple and affordable, even in today’s troubled economic times.
The first biggest benefit of VA Loans is the no down payment feature. By not requiring veterans to put money down on the property, the VA has made it possible for all veterans to afford new homes. The VA also does not require private mortgage insurance because they already guarantee a portion of the loan for you. Other benefits include low closing costs, individual repayment plans, low interest rates, fast approval and simple refinancing. You will also have the full support of the VA if you ever have questions or trouble making payments in the future.
Qualifying for a VA Loan is incredibly simple. The rules state that veterans and current members of the military serve at least 181 days of regular active-duty service to qualify. After that, all you need to do is submit an eligibility form with the VA. Once you have been approved they will send you a Certificate of Eligibility (COE) in the mail.
With your COE in hand, you are free to start house shopping immediately or get pre-approved for a loan. Once you have found the house you want to buy, you will need to go through the loan process which includes supplying financial documents (credit scores, debt-to-income ratio, etc), having the house appraised by a VA-approved inspector and paying the closing fees. The process is almost identical to that of obtaining a conventional loan.
Get Pre-approved Today!
Getting pre-approved for a Florida VA Loan is a great idea – this way you will know how much you can spend when shopping for houses. We have a team of VA home specialists who are ready to help you get started today. All you need to do is fill out our 1 minute VA Loan form
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