VA Home Loans are one of the easiest and most rewarding benefits veterans get--often referred to as "the best home loan in America"; but shockingly only 6% of veterans use their benefit.
At Fidelity Funding Mortgage Corp, we make it easy to use your benefits. We’ll even look up your eligibility if you don’t have your DD-214. We make it easier than ever to get use your VA home loan benefit.
Veterans have the distinct advantage of securing VA financing with no money down. That's reason enough to consider using your VA loan benefits. There isn’t a maximum loan amount either – as long as you qualify for the loan (more on this below), you can borrow as much as you need.
You have only to prove you have the entitlement – or benefit – from the VA. If you left the military with anything but a dishonorable discharge and you served at least 181 days during peacetime, chances are you are eligible.
Other benefits of the VA loan include:
If you have a questionable credit history or you had some hiccups in the past and don’t think it’s been long enough to qualify for a mortgage, check out your VA benefits. Our VA loan program is as flexible and forgiving as they come today. Chances are you’ll be able to secure a loan much faster using your VA benefit than waiting to use conventional financing.
We genuinely love helping veterans from MacDill use their VA benefits because the qualifying factors are so simple to meet:
There aren’t any geographic limitations to specific areas here in Florida that limit where you can use your VA home loan benefit. While there are amazing properties near MacDill AFB in the Greater Tampa Bay area, we service all areas in Florida including South Tampa, Clearwater, Wesley Chapel, Lutz, Odessa, St Petersburg, Lithia, Riverview, FishHawk Ranch, Apollo Beach, Fort Lauderdale, Wilton Manors, Davie, Orlando, Winter Garden, and Miami, among others.
You can buy any home in Florida that’s a single-family home, townhome, or condo. If you buy a condo, though, check out our list of currently approved condo projects. If you fall in love with a condo that’s not on the list, don’t worry – we have experience getting Single Unit Condo Approvals. We have connections within the VA Service Center to get it done fast, too.
Another myth many people believe is the VA appraisal is hard to pass – it’s not. The VA wants to ensure that the home you're buying is in good condition and ready for the veteran to move in, but all appraisals require the same thing. While the home must pass specific property requirements, they aren’t anything out of the ordinary, making it harder to secure financing.
Many people avoid using their VA loan benefit because of the VA funding fee, so let's set the record straight.
First--although the VA Funding Fee is an upfront fee, you can roll it into your new VA home loan, meaning you don't have to pay for it out-of-pocket. It's financed into your new loan and only makes a small difference to the payment---usually only a few extra dollars.
Most veterans using their benefit for the time pay a 2.3% funding fee, which means you pay 2.3% of your loan amount to the VA for providing the benefit. Again, although this is an upfront fee, you can wrap it into your loan amount if you don’t have the funds available, or the seller can even pay it for you.
Certain people are exempt from paying the funding fee too, which means even more benefits:
It’s a chance to secure financing with no down payment, low closing costs, and flexible guidelines. What could be better?
Whether you’re a great credit borrower or even if you’ve had some hiccups, there is a loan for you.
Our specialists work well with veterans, helping you understand your benefits, pulling your eligibility if you don’t have it, and walking you through the process. We want as many veterans here in the MacDill and surrounding Tampa Bay Areas as possible to take advantage of their VA home loan benefits.
For more information on the VA Funding Fee, be sure to check out VA Home Loan Resource page--it's packed with all sorts of great information designed to help Veterans answer their questions and provide everything you need for a great homebuying experience.
As always, if you’re looking to purchase, refinance or get preapproved to purchase a home anywhere in the state of Florida using your VA benefit, we’d love to help. Simply give us a call so we run some numbers for you and answer all your questions!
You can also drop us a line HERE »
Yours in successful homeownership,
Unconventional Lending Program Director