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VA Loan Lanham Maryland
VA Loan Lanham Maryland
How Does A VA Home Loan Work in Lanham Maryland?
We pride ourselves on being the #1 VA Loan lender in Lanham Maryland. We have gained our reputation as the nations #1 VA Loan lender because we know how critical each day is in the competitive Lanham Maryland real estate market. We are serving all of Lanham Maryland zip-codes including zip code 20706 and throughout Maryland, Florida and 47 other US states.
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 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 Lanham 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 Lanham 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 Lanham, 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 Lanham VA Loan, we are offering the following loans as well:
About Lanham Maryland
Introduction to Lanham, Maryland
Lanham is an unincorporated community and census-designated place in Prince George’s County, Maryland, United States. As of the 2010 United States Census it had a population of 10,157. The New Carrollton station (the terminus of the Washington Metro’s Orange Line) as well as an Amtrak station are across the Capital Beltway in New Carrollton, Maryland. Doctors Community Hospital is located in Lanham.
- College Park Aviation Museum – Flight-focused Smithsonian affiliate
- Greenbelt Park – Wooded suburban getaway with campgrounds
- Lake Artemesia – Scenic reservoir spanning 38 acres
- Anacostia Tributary Trail System
- University of Maryland Art Gallery – Art museum, art and museum
- Riversdale House Museum – History in an early 19th-century house
- Lake Artemesia Natural Area – Lake, park and garden and nature
- Sligo Creek Trail – Park and garden and running
Why to Live in Lanham?
This is a fairly safe neighborhood/ environment. It is a great place to live as a students! The neighborhoods are safe and the people are so kind. There are over 271 different food spots to choose from, also various clubs, lounges and a really cool bowling alley. You will never be bored in college park.
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