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VA Loan Lauderdale By The Sea Florida
What Is A VA Loan?
A VA loan is a home loan given by private lenders and secured by the U.S department of veterans’ affairs. It enables U.S veterans, the active-duty service members, and widowed service members’ spouses to buy a home. VA loan 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 and does not need a down payment.
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How Does A VA Home Loan Work in Lauderdale By The Sea, Florida?
VA home loans are non-conventional home loans. Since the VA loan are government-insured they do not have the conventional mortgage system that you get from banks and other lenders.
The non-conventional home loans are 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.
Benefits of VA Loan
- No Down Payment- This is far and away the program’s signature benefit. Qualified VA Loan borrowers can purchase up to a county’s conforming loan limit without a down payment. Those limits can change every year and are higher in more expensive areas.
- No Private Mortgage Insurance- VA loan do come with a mandatory funding fee that goes directly to the Department of Veterans Affairs. Borrowers with a service-connected disability are exempt from paying this fee, which helps keep the program going for future generations.
Looser Credit Requirements- Credit score requirements have started to thaw, but that hasn’t made life significantly easier for many military buyers. The credit benchmarks set by both conventional and FHA lenders can still be tough to hit.
Not just Lauderdale By The Sea VA Loan, we are offering following loans as well:
Loans Custom Built for Real Estate Investors
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Fix & Flip Loans 90% LTC and up to 100% of fix up costs.
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Fix and Flip or Fix To Rent Loans can be closed in just 5-7 days. If you would like to prepare for your first deal contact us for a soft quote and our due diligence check list.
From your first investment real estate loan to putting together a portfolio loan for all of your investment properties, CambridgeHomeLoan.com is the resource that can help you from the very beginning of your investment career.
CambridgeHomeLoan.com can manage all of your real estate loans from ground up construction, spec houses to fix and flip and fix to rent home loans. When you want to get your price and close in just a few days to easy rehab draws that can help you get your project done on time and in budget. Give us a call today with your project outline and we can give you the possibilities.
Lauderdale-by-the-Sea is a town in Broward County, Florida, United States, situated 33 miles north of Miami. As of the 2010 census, the population was 6,056. It is part of the Miami–Fort Lauderdale–Pompano Beach Metropolitan Statistical Area, which was home to 5,564,635 people at the 2010 census.
Things to do in Lauderdale By The Sea Florida
Located between the Atlantic Ocean to the east and the Intracoastal Waterway to the west, Lauderdale-by-the-Sea is a beautiful coastal town that draws visitors from all over the country for its fantastic beaches, world-class sport-fishing, and the abundant urban attractions available in nearby Miami and Fort Lauderdale.
Unlike many of its small-town counterparts, Lauderdale-by-the-Sea has retained much of its historic charm in the face of constant development.
Many visitors to the area make a series of day-trips to nearby cities and attractions, and Boca Raton and Pompano Beach top most lists.
Below are 6 things to do in and around Lauderdale-by-the-Sea.
- Anglins Fishing Pier
- Friedt Family Park
- Blue Moon Fish Company
- SS Copenhagen
- Aruba Beach Cafe
- Dr. Von Mizell-Eula Johnson State Park
We are serving all of Lauderdale-by-the-Sea zip codes including 33062, 33308
Expert Mortgage and Investment Real Estate Advice
Cash Grants for First Time Home Buyers When was the last time somebody credible offered you thousands of dollars in free money? For most of