The VA Loan is a home-mortgage option available to United States Veterans,
Service Members and not remarried spouses. VA Loans are issued by qualified
lenders and guaranteed by the U.S. Department of Veterans Affairs
U.S. Military Veterans and their families may qualify for a VA Home Loan guaranteed by the
United States Department of Veterans Affairs.
VA loans are another option for borrowers with little free cash but decent credit, provided they’ve
served in the military. You’ll need to obtain a Certificate of Eligibility through your lender or the
VA Loan Eligibility Center before you will be able to close your loan, however. Qualifying for a VA
loan is a lot different than any other loan on the market – the Department of Veterans Affairs
places no strict limits on the credit eligibility or debt to income ratios of the borrowers they
insure. Instead, most underwriting items are left to the discretion of the bank involved.
The Department of Veterans Affairs may not provide a lot of guidelines on who to loan VA funds
to, but they’re very strict on what fees can be paid by borrowers and how much they can pay for
things like closing costs. Items not reimbursed under “itemized fees and charges” on the HUD-1
form are limited to one percent of the loan amount in most cases, and those “itemized fees and
charges” are tightly regulated.
Even though VA loans are an excellent option for many veterans, there are a few drawbacks. If
you have plenty of cash and excellent credit, you may be able to find a better rate with a
conventional loan, plus you’ll avoid the VA funding fee. In addition, some sellers may be nervous
about accepting a real estate contract with VA financing attached, especially if they or their agent
believe your loan may take extra time to close.
THE NEW VA ADVANTAGE LOANS
Our New VA Loan as many advantages that make it one of the most appealing paths to home
ownership and this great benefit is reserved exclusively to those who bravely served our country
and select military spouses. When combined, the benefits of the VA mortgage allow service
members and Veterans to take advantage of substantial cost savings under qualification
requirements designed specifically for members of the military and their unique needs
VA PROGRAM HIGHLIGHTS
Competitive interest rates
No MI (mortgage insurance)
Credit starting at 580 is OK
The Disabled pay no Prop Tax
Free Credit Consultation
Credit Re-scoring Services
We help you obtain a replacement DD214
Click Here to visit our dedicated VA Website to learn more about our VA loans and 580 Credit
VA Home Loan
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing all of Florida offering over 48 loans programs including Conventional Loans, Non-Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans, to name a few and specializing in Bank Statement Loans or “stated loans” requiring no Tax Return verification and much more. * No broker or lender fees are for FHA,VA, USDA and Conventional loan types Main Office: 2151 Consulate Dr. * Suite 8 * Orlando, FL., 32837 * Telephone (800) 655-1345 * (407) 300-2558 * Fax (877) 401-9955We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.