Did you know that if you have served in the military, you may be able to buy a home in Kentucky or Florida with zero down?
Many veterans are unaware of the VA mortgage program and the many advantages it can offer.
This special program offers some of the most flexible and affordable loan terms available.
What is a VA Mortgage?
A VA mortgage is a home loan that is guaranteed by the US Department of Veterans Affairs. It is one of the benefits that become available to members of the military after they meet a specific service requirement.
Advantages of VA Loans in Kentucky,
Florida, Indiana, Colorado, and
If you are eligible for a VA home loan, these are the benefits:
- Buy a home with zero down. For many applicants, one of the most exciting features of a VA loan is the opportunity to buy a home immediately with no down payment.
- A VA mortgage has relaxed credit qualification requirements. Even without perfect credit, you may be eligible.
- Even if you do not make a down payment with a VA mortgage, you do not need to pay for mortgage insurance. This is an advantage over FHA loans.
- VA mortgages feature affordable interest rates, even for applicants without perfect credit.
- Closing costs are capped at 3%. In some cases, the seller may pay the closing costs.
- The funding fee for a VA mortgage can be waived for an eligible disabled veteran.
- If you refinance a VA mortgage, you do not need to get an appraisal unless discount points are charged.
How Do You Qualify for a VA Mortgage
in FL, KY, IN, CO, and TN?
How do you know if you are eligible for a VA loan? The basic requirements include:
- Active duty or retired military status. Along with veterans and active-duty service members, eligible surviving spouses are also welcome to apply for a VA loan.
- Service in any branch. If you were in the Reserve or National Guard, you must have been activated to apply.
- Meeting the minimum service requirement. 90 days of active duty wartime service or 181 days of continuous active duty peacetime service are the most common requirements, but they can vary depending on when you served.
Are you unsure if you meet the minimum service requirement? We can help you to assess your record to see if you are likely to qualify for a VA mortgage. If we determine that you are, we can walk you through the remaining steps in the application process, including obtaining your Certificate of Eligibility (COE).
Apply for a VA Loan in Louisville,
Cape Coral, or Beyond
Are you ready to buy a home with zero down? To apply now for a VA mortgage, please give us a call at (502) 327-9770 in Kentucky or at (239) 766-8344 in Florida. We also work with veteran homebuyers in Indiana, Tennessee, and Colorado.