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 Florida 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 benefits. Including reduced or elimination of Florida property taxes. We are proud to provide 100% Bad credit Florida VA mortgage approvals down to 550 fico score va purchase or Florida VA mortgage refinance!
- Easier qualification standards
- Less strict credit and income standards
- 100% Financing = No down payment required.
- Bad Credit Score VA loans Down to 550!
VA HOME BUYER LOANS or VA MORTGAGE REFINANCE
You must have suitable credit score MINIIMUM 550, sufficient income, and a valid Certificate of Eligibility (COE) to Qualify for a Florida VA mortgage. The Florida home must be for your own personal occupancy. The approval requirements to obtain a COE are listed below for Service members and Florida Veterans, spouses, and other eligible beneficiaries. VA mortgage loans can be used to:
Funding Fee Tables
Note:In 2011,funding fees were lower from October 1 through October 5,and November 18 through November 21. The enactment of Public law 112-56,signed November 21,2011,establishes rates at the levels below through September 30,2016.Prior to September 30,2016,we will publish updated information on the fees for loans closed after that date.
Note:Thereare no reduced funding fees for regular refinances based on equity. Reduced fees only apply to purchase loans where a down payment of atl east
5 percent is made.
*The highersubsequent use fee does not apply to these types of loans if the Veteran's only prior use of entitlement was for a manufactured home loan.
|VA Status||Qualifying Wartime & Peacetime Periods||Qualifying Active Duty Dates||Minimum Active Duty Service Requirement|
|Florida Veteran||WWII||9/16/1940 - 7/25/1947||90 total days|
|Post-WWII||7/26/1947 - 6/26/1950||181 continuous days|
|Korean War||6/27/1950 - 1/31/1955||90 total days|
|Post-Korean War||2/1/1955 - 8/4/1964||181 continuous days|
|Vietnam War||8/5/1964 - 5/7/1975 *For Veterans who served in the Republic of Vietnam, the beginning date is 2/28/1961||90 total days|
|Post-Vietnam War||5/8/1975 - 9/7/1980 *The ending date for officers is 10/16/1981||181 continuous days|
|24-month rule||9/8/1980 - 8/1/1990 *The beginning date for officers is 10/17/1981|
|Gulf War||8/2/1990 - Present|
|Currently On Active Duty||Any||Any||90 continuous days|
|Florida National Guard & Reserve Member||Gulf War||8/2/1990 - Present||90 days of active service|
Although Florida VA mortgage do not have a maximum dollar amount, Florida mortgage lenders who sell their VA loans in the secondary market must limit the size of those loans to the maximums prescribed by GNMA (Ginnie Mae) which is currently 417,000..
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.
- 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.
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.
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 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
VA INFORMATION LINKS
|VA HOME LOAN AFTER BANKRUPTCY|
|VA MORTGAGE REFINANCE FLORIDA|
|THE FLORIDA VA LOAN GUARANTEE|
|VA LOAN FLORIDA|
|BAD CREDIT VA MORTGAGE LOANS|
|BAD CREDIT FLORIDA VA MORTGAGE|