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 home loans originated in 1944 as part of the original Servicemen’s Readjustment Act, also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. This feature was designed to offer housing and assistance to veterans and their families, making the dream of home ownership a reality for millions of veterans.

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.

What is the New VA Advantage?

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

What are the VA Advantage Program Highlights?

100% Financing

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

What are the VA Home Loan Benefits? There are many benefits to pursuing a VA home loan as opposed to a traditional mortgage. Primarily, VA home loans: Do not require a down payment Have lower interest rates than traditional financing Are backed by the Department of Veterans Affairs Do not need private mortgage insurance Have more flexible loan requirements Only require limited closing costs Have no penalty fee if you pay off your home loan early Allow you to sell your home or refinance without restrictions Can be used to purchase a home, condo, duplex, and other types of properties Allow for the funding fee to be financed with the loan (or sometimes waived completely) Are assumable, meaning they can be transferred to a VA-eligible buyer Can have a non-spouse family member added for VA joint loans Cashout up to 90% of the home’s value (100% in some cases) Since VA home loans do not require monthly mortgage insurance (MI) and offer more favorable terms, they are usually more affordable. As such, borrowers are better able to focus on paying off debt and other financial obligations.

Click Here to here to apply for a VA loan and 580 Credit Score

What Is a VA Loan?

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* Disclaimer: All Loan programs, rates and terms can change without notice and are subject to credit and underwriting approval. Loan charts highlight min/max constraints, assumptions & random scenarios only. We will always work hard to approve your loan but there are no guarantees of any kind expressed or implied that any loan we be approved. Licensed in Florida Only © 2007 - 20211st Florida Lending Corp. - All rights reserved I Privacy Policy I Terms of Use I
Carlos Matos I Florida Direct Lenders

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1st Florida Lending


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1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing only the State 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.