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VA Loan Lauderhill 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 Lauderhill, 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 Lauderhill VA Loan, we are offering following loans as well:
Loans Custom Built for Real Estate Investors
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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.
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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.
Lauderhill, officially the City of Lauderhill, is a city in Broward County, Florida, United States. As of the 2020 census,the city’s population was 74,482. It is a principal city of the Miami metropolitan area, which was home to an estimated 6,012,331 people in 2015.
Things to do in Lauderhill
Founded nearly 60 years ago, Lauderhill lies just north of Miami along a beautiful stretch of the state’s Atlantic coast and is conveniently close to many of Florida’s most visited attractions.
For those traveling without kids, Miami’s around-the-clock nightlife is an alluring option, and if art, culture, and natural attractions are more your cup of tea, you’ll find plenty of those too.
Finding things to do within an hour or two of Lauderhill won’t be an issue, and for those who’ve come to lounge on the beach and soak up the famous Florida sun, there are few better places to do it than the southern coast.
Below are 6 things to do in and around Lauderhill, Florida.
- Lauderhill Performing Arts Center
- Lauderhill Jammin’ in the Park and Art Fest
- Ilene Lieberman Botanical Garden
- Funky Buddha Brewery
- Yellow Green Farmers Market
- Carrie B Harbor Tours
We are serving all of Lauderhill zip codes including 33311, 33313, 33319, 33351
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