Government-Secured VA Loans Mean Great Deals for You
VA loans are a great financing option available to veterans and active service members looking to purchase or refinance a home. VA loans are insured through the U.S. Department of Veterans Affairs, a federal agency. They were uniquely designed to provide affordable home financing to those who have served our country. The CCH Mortgage team finds mortgage solutions for each of our client’s unique needs. If you are considering a VA loan to purchase a home in West Palm Beach, Miami, Daytona, Ft. Lauderdale, Key West or surrounding areas in Florida, contact us today.
A Non-Conventional Loan with Minimal Qualifications
VA loans are one type of non-conventional loan. Non-conventional describes any loan that is insured or backed in part by the federal government. VA loans are fully funded through private lenders, yet insured in part through the Department of Veterans Affairs. Conventional loans, conversely, are in no way supported by the federal government.
VA loans are available to most active-duty service members, reservists, National Guard members and veterans. In some cases, spouses of active-duty military personnel who have died are also eligible.
Because they are partially secured by the federal government, VA loans are favorable types of loans for lenders. While the federal government does set some baseline qualifications for VA loan acceptance, they have less stringent requirements than those set by most conventional loans. For you as a borrower, that is good news.
The Benefits of a VA Loan
A VA loan is designed to help veterans and service members thrive as homeowners. Unique benefits of a VA loan include:
- Up to 100% financing for home value
- Zero down payment
- No closing costs
- No prepayment penalties
- No premium mortgage insurance (PMI)
- Ability to purchase your first home or refinancing an existing mortgage
You may well qualify for both conventional loans and VA loans. Our qualified mortgage professionals can help you evaluate the long-term costs of both. Once you are fully informed on the rates and terms available, you can make the best home financing decision.
Qualifying for a VA Loan
No matter where you are in the process of purchasing a home, we can help. We offer complimentary consultations to help you explore your loan options. If a VA loan is right for you, we will help you obtain the mandatory certificate of eligibility (COE), which is required by the Department of Veterans Affairs. We work with qualified Realtors and appraisers in the area to help you as you explore different property options.
Your Partner for Peace of Mind
When you are ready to make the dream of owning a home come true, start with the team at CCH Mortgage. Our certified mortgage brokers are standing by to learn about your unique financial situation to help you find the best-suited loan. We help clients apply for VA loans in West Palm Beach, Miami, Daytona, Ft. Lauderdale, Key West or surrounding areas in Florida. Contact us to get started.
