
You Can Buy a Home in 2020 with These Low Income Mortgage Programs
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CambridgeHomeLoan.com is #1 VA Loan lender in Altamonte Springs Florida. We have gained our reputation as the nations #1 VA Loan lender because we know how critical each day is in the competitive Altamonte Springs Florida real estate market. We are serving all of Altamonte Springs zip-codes including zip codes 32701, 32714, 32715, 32716 and throughout Florida, Maryland and 47 other US states.
A VA loan (Veterans Administration) is a home loan offered by private lenders and guaranteed by the U.S department of veterans’ affairs. It enables U.S veterans, the active-duty service members, widowed service members’ spouses Veterans and national guard to buy a home. VA loans were introduced as part of the GI Bill in 1944 to help the veterans, and they have become popular over time. In early 2019, 8% of homes were acquired using a VA loan. This loan type has become increasingly popular because it is much easier to qualify, no down payment required and low closing costs.
VA home loans are non-conventional home loans. Since the VA loans are government-insured they do not have the conventional mortgage underwriting guidelines that you get from conventional banks.
The VA Loan Altamonte Springs is easy to get since the banks assume less risk than conventional loans. This means that the U.S department of veterans affairs undertakes to repay a part of the loan to the lender if you are unable to make payments or if you face foreclosure.
To get a VA loan in Altamonte Springs Florida, you must be military personnel and meet the VA’s specific service needs. For you to be eligible, you must fall in any of the following three categories:
When applying for a VA loan in Altamonte Springs, you need to get a Certificate of Eligibility “COE” or you can provide us with your DD-214 and we will order your COE for you. The COE lets us, the lender, know what you qualify for.
About Altamonte Springs Florida
Altamonte Springs was established in 1883 when the Altamonte Land, Hotel, and Navigation Company moved into the area and gave the town its current name. It wouldn’t be until 1920 when Altamonte Springs would be voted and approved to be incorporated. Altamonte, the spanish word translating to “high hill”, contradicts the local land as well as the majority of Florida, which is mostly very flat.
Being just north of the city of Orlando, Altamonte Springs has much to offer. Being almost directly in the middle of the state, the beach is just a short drive to either coast. Throughout the years, Altamonte Springs has moved away from their historic downtown and transformed it into a modern, lively uptown. Altamonte Springs contains an abundance of delicious dining locations, entertainment, and shops. Away from the uptown, you find a quiet and neighborly suburb. The local county public school system is ranked to be one of the highest in the state and very competitive in comparison to the nationally ranked public schools. Altamonte Springs has become one of the best places to reside in the state of Florida.
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