Looking for a VA Loan Jacksonville Florida? Call us now! We have the best options for you with low mortgages rates and the lowest interest rate you can find!
Florida is a beautiful state with a lot to offer, especially for veterans who want to buy a home through the VA loan program. Today the population of Florida, which exceeds 18 million, is 23 percent Hispanic and 16 percent African-American. The economy, which has shifted many times since its inception; driven by the nineteen metropolitan areas falling within the state’s boundary, tourism, biomedical, life sciences, health-care research and retirement are the state’s most prominent industries. VA Loan Jacksonville Florida
The veteran population of Florida is roughly 1.5 million, ranking it with California and Texas as the states with the highest concentration of veterans. Bordered by the Gulf of Mexico and the Atlantic Ocean, Florida is the 4th most populous state in the country. With 237 sunny days a year, tropical weather, and pristine beaches, residents often say, “Florida has it all.” For many people, living in Florida is like being on vacation every day. In addition to the stunning natural beauty of the state, there are also several major metropolitan areas, including Jacksonville, Miami, Orlando and Tampa. All these make this state the perfect place for a VA loan home purchase. VA Loan Jacksonville Florida
Popular tourist destinations in the state include the Walt Disney World Resort, Universal Orlando Resort, Busch Gardens, and SeaWorld.
Approximately 60 million tourists travel to Florida annually. A great place to purchase a home using a VA loan Jacksonville Florida.
Florida provides property tax exemptions to disabled veterans meeting certain criteria. A $5,000 exemption is available to veterans with a service-related disability of 10 percent or more. Those who suffer a permanent and complete disability are entitled to a total exemption.
The cost of living in the Sunshine State is 1.3 percent lower than that of the national Average.
The unemployment rate of 5.7 percent is also below the American average, and the state experiences job growth of over three percent.
Florida is an appealing destination for veteran homeowners because of the array of great deals that can be found on properties, including short sale and foreclosed homes. If you’re planning to buy a home in Florida using a VA loan Jacksonville Florida, a termite inspection is required. Heating systems are not required in a number of the south Florida counties, including Broward, Charlotte, Collier, Dade, Glades, Hendry, Lee, Martin, Monroe and Palm Beach.
Additional guidelines include the fact that Staff Appraisal Reviewers can change the appraiser’s estimate of value (but rarely will), and refinancing of new construction condominiums may not be eligible. You can buy a new construction condo, but the VA has to approve the condo and the borrower can’t receive a gift, grant, down payment assistance or a loan from a family member to cover closing costs. Attached new construction PUDs are also required to meet a 50 percent presale requirement. VA Loan Jacksonville Florida
There’s no better way for military members and veterans to finance that Florida beach home than with a VA loan.
And one of the favorite cities for veterans is Jacksonville. With a population of 794,500, Jacksonville is the largest city in Florida and the twelfth largest city in the country. When the surrounding areas include the population count, the Greater Jacksonville Metropolitan Area is home to over 1.3 million residents.
The Jacksonville Naval Air Station brings many Military families to the Jacksonville area and employs 23,000 active duty and civilian personnel. Not only does Jacksonville have a large population, it also covers a huge amount of land. In fact, it has the largest landmass of any city in the continental United States. This great expanse of land means a diverse real estate market with many distinctive neighborhoods. Jacksonville is divided into the following six major sections: Greater Arlington, North Jacksonville, Northwest Jacksonville, Southeast Jacksonville, Southwest Jacksonville, and Urban Core.
These sections are further divided into many neighborhoods, including some that were once independent towns before being annexed.
Because the Jacksonville market is so large, it is a good idea to find a Realtor to help you in the home buying process. He or she will be able to help you find the house that fits your needs in Jacksonville city. Because a Realtor will need to know your pricing parameters, it can be very helpful to get pre-approved for your home VA loan before you start looking at homes. When you and your real estate agent begin your search, you can expect the median home price to be just under $160,000.
Jacksonville’s location on the St. Johns River and its many unique skyscrapers make a picture perfect skyline from the Jacksonville Riverwalks. These pathways are on each bank of the river and are a popular attraction for both tourists and residents. Jacksonville boasts terrific museums, including the Jacksonville Museum of Modern Art and the Museum of Science & History. And for the days when you want to enjoy the Florida sun, the river is the perfect place for boating and water sports.
So for those veterans who want a home in Jacksonville, Florida a VA loan is a great opportunity to achieve the purchase of their own dream house since 1944.
The VA loan provides veterans a federally guaranteed home (the guaranty means the lender is protected against loss if you, or a later owner fails to repay the loan), with no down payment.
The Department of Veterans Affairs (VA), is the one who establish the rules of VA loans for those who may qualify, and dictate the terms of the loans, and insure VA loans against the default. Any VA approved lender can issue this special loan program designed specifically for veterans. VA loans also offer feature flexible requirements, no private mortgage insurance (PMI) loan, and extremely competitive mortgage loan rates.
VA Loan Jacksonville Florida offer up to 100% financing on the value of a home. And it will guarantee a maximum of 25% of a home loan amount up to $104,250; which limits the maximum loan amount to $417,000. Usually, the reasonable value of the property or the purchase price, whichever is less; plus the funding fee may be borrowed. Those who are looking to purchase a very expensive home; the loan limits imposed by the VA home loan program may discourage them. (If the home that you want to buy exceeds this loan limits; you will have to finance the balance through another loan program). VA Loan Jacksonville Florida
And contrary for most lenders, there is no maximum debt ratio. This means that the monthly loan payment can be higher than the typical lenders requirement 28% of gross monthly income; or exceeding the 43% of total debt-to-income ratio.
The entitlement also allows military members and vets to qualify for larger loans. In those cases, a down payment it is a requirement. But with a VA home loan the vets won’t need as much as they would with conventional financing.
All veterans must qualify for. they’re not automatically eligible for the program. In order to qualify for a VA Loan Jacksonville Florida; a veteran must have served 181 days during peacetime, 90 days during war time. Or 6 years in the Reserves or National Guard. Or have a discharge other than dishonorable. The spouse of a service member killed in the line of duty, may also qualify. VA Loan Jacksonville Florida
VA Loan Jacksonville Florida applicants must present a certificate of eligibility. This establishes their record of military service, to the lender.
Note: You are not eligible for VA loan financing only based upon Active Duty for Training in the Reserves or National Guard. You must be active under the authority of title 10 U.S. Code as was the case for the Iraq/Afghanistan. If you have served for less than two years, then you are not going to qualify. During periods of war, active personnel must have served for at least 90 days to qualify.
The VA Loan Advantage:
NO money down – up to 100% financing nationally.
- Low VA loan interest rates set by approved lenders, banks and mortgage brokers. VA loan rates are often times lower than conventional, FHA or USDA loan programs. In fact VA loan interest rates are some of the lowest rates available today.
- Secure 15, 30 year fixed rate or adjustable rate terms with no prepayment penalty.
- NO monthly mortgage insurance (PMI) like other home loans. This alone can save home buyers hundreds $ each month on their loan payments.
- Property seller can pay closing costs. This limits buyers out of pocket money needed to close.
- Minimal assets required to qualify.
- Qualifying with a low credit score is possible. Current minimum is 620.
- Eligible Vets can use their VA loan benefits multiple times.
- VA home loans are for ANY new or existing home. Please note we currently do not permit mobile homes. VA Loan Jacksonville Florida