Florida mortgage lenders.com specializes in good and bad credit VA mortgage loans even no credit score Florida VA loans in every city and county in Florida. VA mortgages are guaranteed by the Department of Veterans Affairs (VA). These VA mortgage loans were established to provide transition assistance and other benefits to men and women who served or are serving in the Armed Forces of the Nation. This includes the Army, Navy, Air Force, Marines, Reservists, National Guardsmen, and certain surviving spouses. Also, if you are a disabled veteran, you may qualify for additional Florida VA mortgage benifts. Including reduced or elimination of Florida property taxes. We are proud to provide 100% Bad credit Florida VA mortgage approvals down to 580 fico score!
VA HOME BUYER LOANS or VA MORTGAGE REFINANCE
VA 100% HOMESTEAD EXEMPTION
Any Florida homestead by a veteran who was honorably discharged with a service-connected permanent and total disability and for whom a letter from the United States Government or VA or its predecessor has been issued certifying that the veteran is totally and permanently disabled is exempt from taxation, provided the veteran is a permanent resident of the state on January 1 of the Florida tax year for which property exemption is being claimed or on January 1 of the year the veteran died.
BENEFITS OF A VA MORTGAGE LOAN
- No money down for Florida VA loans up to $417,000.
- Seller paid closing cost up to 4%.
- No PMI (Private Mortgage Insurance)
- Government regulated Florida VA loan closing costs.
- VA streamlined refinance loans can be closed in 7 to 14 days
- VA BAD CREDIT FLORIDA MORTGAGE DOWN TO 580 FICO.
- No limit to the number of times a veteran may use a VA mortgage.
- NO CREDIT SCORE FLORIDA VA HOME LOANS USING ALTERNATE TRADE LINES.
In addition to these benefits, the VA Mortgage Loan program offers default assistance to veteran borrowers in financial difficulty through a higher level of service and a greater range of alternatives to avoid foreclosure. Delinquency and foreclosure rates for VA mortgage loans are substantially less because of the VA mortgage protections in place.
VA MORTGAGE FUNDING FEES
The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3.3% of the loan amount. The VA mortgage funding fee is added into the VA mortgage amount of the loan to be paid over the life of your VA mortgage loan. The VA mortgage Funding Fee replaces the much higher priced Florida (PMI) Mortgage Insurance required when you get a conventional home loan. Disabled Florida Veteran homebuyers may even qualify to get the fee waived completely.
QUALIFYING FOR A VA MORTGAGE
The VA offers excellent qualifying standards. The VA does not use credit scoring as their primary analysis of the loan. Florida VA mortgage applicants with some past financial difficulties may still qualify for a VA mortgage loan. The VA mortgage can be a tremendous savings compared to the cost of conventional loans for those veterns with past credit issues.
VA MORGAGE REFINANING
VA mortgage loans have built in features allowing a Florida VA mortgage to be refinanced to a lower interest rate without all of the criteria normally red tape associated with a conventional mortgage. This is called an Interest Rate Red