VA Loan Ellicott City Maryland
How Does A VA Home Loan Work in Ellicott City Maryland?
We pride ourselves on being the #1 VA Loan lender in Ellicott City Maryland. We have gained our reputation as the nations #1 VA Loan lender because we know how critical each day is in the competitive Ellicott City Maryland real estate market. We are serving all of Ellicott City Maryland zip-codes including zip code 21041, 21042, 21043, 21045 and throughout Maryland, Florida and 47 other US states.
The VA Loan are easy to get since the banks assume less risk than conventional loans. This means that the U.S department of veteran affairs undertakes to repay a part of the loan to the lender if you are unable to make payments or if you face foreclosure.
VA Home Loan Ellicott City Maryland
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What Is A VA Loan?
A VA loan 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 easy to qualify with no down payment required and low closing costs.
What are the VA Home Loan Requirements?
To get a VA loan in Ellicott City Maryland, 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:
- You are an active-duty service member or an honorably discharged veteran who has 90 consecutive days of active service during wartime or 181 days of active service during peacetime.
- You have served more than six years in the National Guard or the Selected Reserve.
- You are the spouse of a service member who died in the line of duty.
When applying for a VA loan in Ellicott City, 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.
Key benefits of VA Home Loan that we provide
- Eligible homebuyers are not required to have a down payment in most cases – typically cited as the greatest benefit of a VA Home Loan
- No monthly mortgage insurance premiums or PMI to pay.
- Lower average interest rates than other loan types.
- No prepayment penalties.
- Limitation on buyers’ closing costs.
Loans Custom Built for Real Estate Investors
The nations #1 Lender for Fix and Flip and Fix To Rent Investment Loans
Fix & Flip Loans 90% LTC and up to 100% of fix up costs.
Not just a Ellicott City VA Loan, we are offering the following loans as well:
Fix To Rent Home Loans
- 1-500+ properties
- Single-family, 2-4 units, condos, townhomes, multifamily
- 5yr, 7, 10 and 30 year terms
- Up to 90% of cost
- Up to 100% of rehab
- Up to 75% of completed value
- $70,000 – $100 million
Fix To Flip Home Loans
- 1-500+ properties
- Single-family, 2-4 units, condos, townhomes, multifamily
- 12 To 24 month terms
- Up to 90% of cost
- Up to 100% of rehab
- Up to 75% of completed value
- $100,000 – $100 million
Multi Family /
Commercial Real Estate
- 1-50+ properties
- Multifamily, condos, student housing,
- mixed use w/ majority residential
- 12, 24 mo., 5,10,30,40 year terms
- Up to 100% of cost
- $1M – $50M
- Bridge, Construction, Permanent, Refi.
About Ellicott City Maryland
Introduction to Ellicott City, Maryland
Ellicott City is an unincorporated community and census-designated place in, and the county seat of, Howard County, Maryland, United States. Part of the Baltimore metropolitan area, its population was 65,834 at the 2010 census, qualifying it as the largest unincorporated county seat in the country.
Money Magazine has rated Ellicott City the fourth best place in the country to live, noting our diversity, wonderful schools and parks and awesome local history—including the oldest passenger railroad station in America and the first school for black children in Howard County (established in 1880.)
Living in Ellicott City offers residents a dense suburban feel and most residents own their homes. In Ellicott City there are a lot of restaurants, coffee shops, and parks. Many families live in Ellicott City and residents tend to have moderate political views. The public schools in Ellicott City are highly rated.
- Patapsco Valley State Park – Hollofield Area – Recreational site on the Patapsco River
- Patapsco Valley – Park and garden
- Clark’s Elioak Farm – Farm produce & adventures for kids
- Centennial Park – Lakeside outdoor preserve
- Gwynns Falls Trail – Hiking, biking & historic sites
- B&O Ellicott City Station Museum – Exhibits & events in a historic setting
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