Jacksonville VA Loans

apply-now-todayJacksonville VA loans are a great way for U.S. military personnel, current or retired, to own their very own home easier than ever before. Most of us already know about the basics of Jacksonville VA loans. Today, we are going to look at 5 things that you probably had no idea about regarding VA loans.

1 – The Department of Veteran Affairs doesn’t pay for the Loan
Contrary to popular belief, and the name itself, the Department of Veteran Affairs (VA) does not provide the loans. In fact, all they do is provide the security for the loans. In other words, VA loans are simply home loans backed by the VA.

2 – Little to No Down Payment
The best thing about VA loans is that a down payment is usually never required. Of course, there may be a minimal down payment required, depending on the lender and the size of the loan.

3 – Jacksonville VA Loans have Service Requirements
In order to acquire a VA loan, you must have or currently be serving in the U.S. military. For example, you must have served for at least 90 continuous days.

4 – VA Home Certification Required
The home to be bought must be inspected and verified by a VA-approved appraiser. Without clearance, the home cannot be bought. In case of home construction, the VA must inspect the grounds, the construction and the final home.

5 – VA Loans are Limited in Size
According to the VA, there really is no maximum to the size of a VA loan. However, considering county laws, the amount you can borrow is limited. In fact, the average VA loan can be up to $417,000. Depending on the cost of the homes in the area, the loan amount may reach to $1,000,000.

If you need more information on Jacksonville VA loans, what they are and/or how to obtain one, feel free to contact us at (877) 442-4023.

First Nationwide Lending offers a variety of financial loans in order to make home ownership a reality for anyone – we offer: purchase mortgages, refinance loans, FHA home loans, USDA mortgage loans, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, and reverse mortgages.

 

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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