Miami VA Loans

apply-now-todayThe Department for Veteran Affairs (VA) guarantees and supports the provision of home loans to people who have served or are currently serving with the U.S. armed forces. This helps existing service members, veterans and their surviving spouses to gain the ownership of a home.

A VA loan is not directly provided by the Department of Veteran Affairs, but the department’s guarantee helps lenders in providing loans on favorable terms to the veterans.

Aside from easing the process of applying for a loan, Miami VA Loans can provide numerous benefits to the veterans. Some of these are:

1. Provided without down payment
Unless the buying price of the home is more than its value or the lender requires a down payment; VA loans are provided without any down payment paid by the borrower.

2. Interest rate can be negotiated
In order to facilitate the veterans, the interest rate on Miami VA Loans is negotiable. This allows people of the armed forces to own a house on convenient terms.

3. Free from mortgage insurance premiums
Veterans that choose to finance their homes with the help of VA loans are exempted from the payments of mortgage insurance premiums (MIP).

4. Miami VA loans are assumable
Borrowers of VA loans can avail the benefit of selling their home before the mortgage payments have come to an end. The loans are transferable or assumable, which means that the new owner of the property will then be responsible for paying the remaining amount of debt.

5. Provision of Assistance from the VA
In case of financial difficulties or during the construction of the home, veterans who have taken a VA loan are provided with assistance from the Department of Veteran Affairs. This helps them in coping with temporary financial problems so that they do not default on their payments and it ensures the cooperation of the builder during the construction of the house.

If you wish to find out more about Miami VA Loans, contact the First Nationwide Lending at (877) 442-4023 and we will provide you with the necessary information to take out a VA loan.

First Nationwide Lending offers a variety of Miami mortgage loans, including, but not limited to: purchase mortgages, refinance loans, FHA home loans, USDA mortgages, 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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