Baltimore VA Loans
Housing prices in Baltimore have never been lower, and with a VA Loan it is possible to purchase big, beautiful family homes for a great price. Qualified veterans looking to move to Baltimore can take part of the VA Home Loan Guaranty Program which has been making the loan process easy and affordable for over fifty years.
VA Loans vs. Conventional Loans
When you apply for a conventional loan in Baltimore, you will be expected to pay around 20% for a down payment on the house. This can get very expensive, especially for young families who want to upgrade to a bigger home. With a VA Loan, you can qualify for big home loans without having to supply any money down. Now, even if you don’t have any money saved up, you will still be able to become a proud Baltimore homeowner. Additionally, you won’t be required to pay private mortgage insurance which you would with a conventional loan.
The no-down payment feature has made Baltimore VA Loans very desirable, but there are some other really great benefits that make the loan even more affordable. For starters, you will be able to get a really competitive interest rate – one that might even be below the current mortgage market rate. There are also flexible repayment plans, quick approval rates and streamlined refinancing options. Plus, with a VA Loan you get the full support of the VA if you should ever run into any problems making payments further down the road.
If you are an eligible veteran, you will need to submit an eligibility form with the VA. Once they have reviewed your application you will be issued a Certificate of Eligibility (COE) and are free to start taking advantage of the VA Home Loan Guaranty Program. You also have the option of letting your lender to obtain the COE for you.
How to get Started
You can start taking advantage of the Baltimore VA Home Loan Guaranty Program today by filling out our 1 minute VA Loan form