There is little doubt that when it comes to veterans, the VA loans are definitely going to be more beneficial than the conventional loans, and with good reason. Some of the greatest benefits of VA loans in Fort Lauderdale include:
No Down Payment
Competitive Interest Rate
No Monthly Insurance Costs
It is true that not everyone is qualified to receive a VA loan, but you can easily determine your eligibility by checking with your local lender and seeing just what kind of deals are available. For the most part, veterans, especially those who have never taken out a loan, are going to be eligible. Your eligibility depends upon the nature of your service of course, and that is an entirely different story altogether.
Finding the Right VA Loans in Fort Lauderdale
Before you can obtain a VA loan you will need to make sure that the lender you are choosing has a status with the VA. For example, nearly every mortgage company out there offers the same collection of conventional mortgage loans, all of which are underwritten to guidelines set forth by Fannie Mae and Freddie Mac. While these are great, they don’t’ necessarily meet the needs of veterans and with that being the case, if the lender isn’t approved by the VA, you should probably avoid them.
A VA approved lender is going to understand that intricacies and the nuances of the Fort Lauderdale VA loan program, and will be able to push your application through the approval process much faster. Those agencies approved by the VA have a distinct set of privileges which include:
Authority to Accept your VA Application
Order Appraisal
Complete the Process In-House without Intervention by a Third Party
So how does this differ from other lenders exactly? One of the little known facts about regular lenders is that when they are not VA approved, they tend to take your application and forward it to other institutions that ARE in fact VA approved and will give you approval later on.
Now, keep in mind that while you still technically end up in a VA approved system, it can cause several hold-ups, especially if the paperwork is not completed properly. As you can see, it’s always going to be best to go with a loan agency that has the approval and the knowledge.
Get with the Program
There are several different loan agencies out there, some offering you 3/1 hybrid loans, or even a 15 year fixed. If you want to be in it for the long haul however, you might consider going with a 25 year fixed rate mortgage. As you shop around and try to find the best loan, your job will be to find the best possible combination of rates and even special offers that can make your loan experience a bit easier to handle.
The Home of your Dreams
If you have spent time in the military, then you deserve to receive the best home loans the industry has to offer. You have sacrificed for your country and as a home loan agency, we understand that there are many who will not recognize that sacrifice and there is a good chance that you are going to experience difficulties obtaining loans for homes or even vehicles despite what you have done for your country. Here at Nationwide Home Loans we believe that every veteran deserves a chance at a home, and it can even be the home of your dreams.
Are you ready to get the home of your dreams? Not everyone has the money to drop on a down payment, let alone a full payment for a house up front. You shouldn’t let that stop you and if you have served your country then we certainly agree. Now would be a great time to start taking a look at the VA loans we offer, and make sure that you’re ready to jump into the rite of passage that is home ownership. The American dream is alive and well – be a part of it.
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