VA approved; Iconic Mortgage Corp – NMLS #1547953. Not affiliated with the Dept. of Veterans Affairs or any government agency.

VA Loan Best Mortgage Rates Miami Fort Lauderdale

2.75% (2.949% APR) RATES 15 YEARS TERM
Find out which new VA benefits you are missing out on in 2017.
See if you Qualify for an Escrow Refund check up to $5,000
VA Home Loans Benefits:
  • culito 0 Down loans
  • culito No cash out of pocket
  • culito Qualify within 24hrs
  • culito Escrow refund check up to 5k

FREE RATE QUOTE


What is your branch of service?

Where is your home located?


What is your price range?


What is your ZIP code?


What is your email address?


What is your name?


What is your current street address?


What is your phone number?


THANK YOU!

We Will Contact You Shortly!

What is your branch of service?

Lower Rates, Better Service. That’s the Iconic Difference

97.8% Customer Recommendation Rating!

4.7 out of 5 Average Customer Satisfaction Rating

VA Loan Best Mortgage Rates Miami Fort Lauderdale

WHAT IS A FIXED MORTGAGE? VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

In a fixed mortgage, your monthly principal and interest payments remain the same for the life of the loan, usually 15 or 30 years. A 30-year mortgage will have lower monthly payments, but the 15-year allows you to repay the loan twice as fast, saving more than half the total interest costs. VA Loan Best Mortgage Rates Miami Fort Lauderdale

WHEN IS IT IDEAL? VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

If you plan to stay in your house for many years, a 30-year mortgage can help you afford a bigger or more expensive property and still have plenty of time to build up equity in it.

WHAT ARE AN ADJUSTABLE RATES MIAMI FORT LAUDERDALE FLORIDA MORTGAGE? VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

In adjustable rates Miami Fort Lauderdale Florida mortgage, your monthly principal and interest payments remain the same for only a certain number of years (usually 5 or 15). If you do not refinance prior to the end of the fixed rates Miami Fort Lauderdale Florida, the rates Miami Fort Lauderdale Florida can go up or down based on the market at the time.

WHEN IS IT IDEAL? VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

VA Loan Best Mortgage Rates Miami Fort Lauderdale

VA Loan Best Mortgage Rates Miami Fort Lauderdale

If you plan to move or refinance before the term adjusts, an ARM can help you get a lower interest rate Miami Fort Lauderdale Florida initially. It’s important to take into account the housing market in your area and in general in order to decide if an ARM is a good choice for you: do you expect to easily be able to sell your home at a profit before the term adjusts.

Veterans Affairs mortgage loans are a viable financing option for veterans looking to secure attractive fixed rates Miami Fort Lauderdale Florida loan with little or no money down.

The loans, guaranteed by the federal government, are available through lenders around the country.

If you’re an honorably discharged veteran, are currently serving on active duty or have completed a total of 6 years of service in the National Guard or selected reserves, you may be eligible for a loan. Certain surviving spouses of veterans are also eligible.

Steps to get a VA loan. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

Obtain a certificate of eligibility: Submit VA form 26-1880 (Request for a Certificate of Eligibility) along with proof of your military service to the VA.

Get preapproved for a mortgage: The lender will determine how much you can afford to borrow, which helps you figure out how much you can spend on a home.

Find a home and sign a purchase contract. To get the VA process moving along, you must have an agreement to purchase a specific home.

Give your VA eligibility certification to the lender when you apply for a mortgage. A lower credit score is not a deal breaker with VA loans.

Get a home appraisal. A VA-approved appraiser will determine the value of the home.

Get the funding fee paid. The VA assesses a funding fee that varies from 1.25% to 3.3% of the loan amount. You can add the fee to the loan amount, or you may be able to arrange for the seller to pay these fees. About one-third of VA borrowers do not have to pay the fees because of exemptions related to service-connected disabilities or death.

File the certificate. After the closing, the VA will return your certificate of eligibility with a note stating that you have used your VA mortgage loan entitlement.

“We are seeing a lot of activity in VA loans because there just aren’t the alternatives for no-money-down loans that there used to be,” says A.W. Pickel III, CEO of Leader One Financial, a mortgage broker based in Lenexa, Kansas.

VA guaranteed loans waive the requirement of private mortgage insurance that lenders require for loans with down payments of less than 20%. Sellers may also assume the 3% to 4% closing and administrative costs required as part of the loan and build it into the home’s purchase price, making these loans even more attractive. VA purchase loans are available only for owner-occupied homes; VA streamline refinance loans can be used for non-owner-occupied homes.

The process. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

VA Loan Best Mortgage Rates Miami Fort Lauderdale

VA Loan Best Mortgage Rates Miami Fort Lauderdale

The process to obtain a VA loan can take longer than with a conventional loan, mortgage brokers note.

“In the past, many Realtors have steered borrowers away from government loans, including VA and FHA loans, because of the additional documentation required as part of the appraisal and inspection process,” says Steve Jacobson, CEO of Fairway Independent Mortgage Brokers.

“There was a perception that these government-backed loans got more scrutiny and that they take longer to close.”

While the process may take longer than a conventional loan, the more favorable terms are worth it, and there are steps you can take to speed it along, such as obtaining your certificate of eligibility before you sign an agreement to purchase a home and ensuring that your purchase price is comparable with other similar homes in the area.

Refis and subsequent purchases. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

Veterans can use their eligibility more than once to obtain a loan on a new owner-occupied home, but as with subsequent refinancing, subsequent mortgage loans carry higher funding fees, although those fees can be reduced with a higher down payment.

Do VA loans have PMI? VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

Another major advantage is that of VA loans don’t require mortgage insurance. On most army patch mortgages, borrowers have to pay for private mortgage insurance (PMI) if they make a down payment of less than 20 percent of the purchase price of the home. That means additional annual fees equal to about one-half to one percent of the loan amount.

Because of the VA loan guarantee, no additional insurance is necessary. The VA loan program insures the loan for you. Result: You not only get a mortgage with no down payment, you get one with no PMI either. How’s that for a deal?

Low mortgage rates Miami Fort Lauderdale Florida. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

VA home loan rates Miami Fort Lauderdale Florida are very competitive with those offered on conventional mortgages. Because the loans are guaranteed, that reduces the risk for VA home loan lenders, who are willing to charge lower rates Miami Fort Lauderdale Florida as a result. You’ll often find that VA 30-year mortgage rates Miami Fort Lauderdale Florida can be anywhere from a quarter-percent to even a full percentage point lower than other mortgages for borrowers with a similar credit and financial profile.

VA loan limits. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

There is no limit on how much you can borrow with a VA home loan. However, there is a limit on the VA Loan Guaranty, which effectively caps how much you can borrow without making a down payment. Those VA loan limits, which are identical to FHA loan limits, are $417,000 in most of the country but go as high as $625,500 in counties with high real estate values.

You can borrow more than that, but you’ll need to put up some of your own money as a down payment on the portion that exceeds local VA loan limits.

For more information, see the explanation of the VA Loan Guaranty further down the page.

Limited closing costs. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

With a VA home loan, your closing costs are limited. VA mortgage guidelines state that borrowers may pay only those closing costs deemed “allowable and customary.” These include the appraisal, credit report, property survey, flood or other hazard insurance, title fees and the VA funding fee (more on that later).

Other fees MUST be paid by either the lender or seller – they cannot be paid by the borrower. These include attorney fees, brokerage fees, loan application fees, lender appraisals, document preparation, loan closing or settlement fees, rates Miami Fort Lauderdale Florida lock fees and many others.

VA loan minimum credit score requirements. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

Borrowers with diminished credit may have an easier time qualifying for these military loans than for other types of mortgages. VA mortgage guidelines do not require a minimum credit score, but individual lenders will have their own standards.

Some VA home loan lenders will approve a mortgage for borrowers with a FICO credit score as low as 580, though 620-640 is the more common minimum.   soldier parents

Borrowers with no established credit history may be able to meet the qualifications for a VA loan by demonstrating a record of timely payments on recurring expenses such as rent, utilities or cell phone bills.

VA mortgage guidelines have shorter waiting periods following a foreclosure or bankruptcy than most other types of loans. Homeowners who have been through foreclosure can re-qualify for a new VA loan in as little as two years. Those with a Chapter 7 bankruptcy may apply for a VA home loan as soon as two years after the discharge date, while those with a Chapter 13 may qualify after as little as one year of making timely payments on the bankruptcy obligations.

VA loan income guidelines. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

VA loan requirements for buyers are similar to other mortgages when it comes to debt loads and income.

VA mortgage guidelines on income requirements are similar to other mortgages when it comes to debt-to-income limits, VA home loan lenders typically like to see a borrower’s total monthly debt payments, including the mortgage, at no higher than 41 percent of gross monthly income, similar to other types of home loans. No more than 28 percent of gross monthly income should be for your mortgage payment, including property taxes and homeowner’s insurance. They may go higher in some situations, however.

VA Rates Miami Fort Lauderdale Florida: Lower Than All the Rest. VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

For mortgage applicants with military backgrounds, it can be downright cheap to get a loan.

Current mortgage rates Miami Fort Lauderdale Florida are still low for all loans types — conventional, FHA, VA, USDA and jumbo.

But, if you’re a military borrower, you’re currently getting access to interest rates Miami Fort Lauderdale Florida below what’s available to U.S. civilians.

As members of the military, your service grants you access to the VA Loan Guaranty program, a program meant to make homeownership mortgage-affordable.

According to Ellie Mae, a mortgage software company whose software handles more than 3.7 million loan applications annually, VA mortgage rates Miami Fort Lauderdale Florida routinely beat “market” ones by more than a quarter of a percentage point.

That’s a huge difference in your housing bottom-line.

Additionally, VA mortgages get approved more easily that other loan types and they grant exclusive access to the Interest Rates Miami Fort Lauderdale Florida Reduction Refinance Loan (IRRRL), one of the fastest, simplest ways to refinance your home loan.

Click to see today’s rates Miami Fort Lauderdale Florida (Mar 12th, 2017)

VA Mortgage Rates Miami Fort Lauderdale Florida Now 0.41% Below Conventional Rates Miami Fort Lauderdale Florida

When you’re looking for the best, lowest mortgage rates Miami Fort Lauderdale Florida, the VA home loan is often where it’s at.

In January, for the 33rd straight month, VA mortgage rates Miami Fort Lauderdale Florida beat rates Miami Fort Lauderdale Florida for comparable mortgages via the FHA, and via Fannie Mae and Freddie Mac.

Since Ellie Mae has tracked the data, VA mortgage rates Miami Fort Lauderdale Florida have beat conventional mortgage rates Miami Fort Lauderdale Florida by 25 basis points (0.25%) or more on any given day, with gaps as wide as 150 basis points for some borrowers with less-than-perfect credit scores.

By contrast, FHA mortgage rates Miami Fort Lauderdale Florida now beat conventional rates Miami Fort Lauderdale Florida by only 19 basis points (0.19%).

VA borrowers also save on mortgage insurance, too.

Different from conventional, FHA, and other loan types, VA mortgages never require mortgage insurance — whether you put down 20% or nothing at all.

This “no mortgage insurance” benefit renders the VA loan a better option for most borrowers than conventional financing when down payments are between 10-15% of the purchase price; and, often when the down payment is twenty percent or more.

What Are Today’s Mortgage Rates Miami Fort Lauderdale Florida? VA Loan Best Mortgage Rates Miami Fort Lauderdale Florida in Miami Fort Lauderdale Florida.

Mortgage rates Miami Fort Lauderdale Florida are low, making this an excellent time to purchase a home or refinance one. Consider all your loan options, though — not just the conventional ones. VA mortgages offer benefits; and FHA loans do, too.

Take a look at today’s real mortgage rates Miami Fort Lauderdale Florida now. Your social security number is not required to get started, and all quotes come with instant access to your live credit scores.

Speak with a Home Loan Specialist today

Contact us: (888) 352-9005

service@iconicmortgage.com 

AbbevilleAshvilleBessemerCentreville, Daphne, Livingston, Monroeville, OneontaRainbow CitySpringvilleAlamedaLos ÁngelesMonterrey, Pasadena‎, San FranciscoSan José, Santa Bárbara‎, Long Beach‎, Orange, Palm Springs, Colorado Springs‎ Denver‎Central CityFort LuptonLouisville, WestminsterDelaware CityHarrington, Lewes, New CastleRehoboth BeachWilmington, MilfordCoral GablesDoral, Fort LauderdaleHialeah‎Homestead‎, JacksonvilleMiami Beach, North Miami Beach‎, Orlando‎, South MiamiAthens, Boston, ColumbusGeorgetown, Kennesaw, Doraville, Aberdeen, Cambridge, College Park, FrederickGaithersburgHagerstown, Seat PleasantWestminsterAnn Arbor‎, Algonac, Bay City, BrightonCharlotte, Croswell, Farmington, Albemarle, BelmontClinton,  Greenville, Kings MountainLexington, Morganton, Oxford, Washington, Wilmington, Winston-SalemAdair Village, Adrian, Astoria, Banks, Brownsville, Central Point, DallasGold BeachJacksonville, McMinnvilleAllentownBethlehemBradfordGreensburg, JohnstownPittston,  Warren, Adams, Baneberry,  Brownsville, Clarksville, Dayton,  Elkton,  Germantown, Hendersonville, Kingsport, MadisonvilleMitchellville New HopePortland, Virginia, Washington 

Ready to Apply? Get Started With Your VA Home Loan Today!