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VA Loan Longwood 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 Longwood, 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 Longwood 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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Longwood is a city in Seminole County, Florida, United States. The population was 13,657 at the 2010 census. It is part of the Orlando–Kissimmee–Sanford, Florida Metropolitan Statistical Area.
At the 2010 census, there were 13,657 people and 5,244 households in the city. The population density was 2,438.8 per square mile (941.9/km2). There were 5,680 housing units at an average density of 1014.3 per square mile (391.7/km2). The racial makeup of the city was 74.10% White, 4.5% African American, 0.3% Native American, 3.3% Asian, 0.1% Pacific Islander, 0.3% from other races, and 1.6% from two or more races. Hispanic or Latino of any race were 15.8% of the population.
Things to do in Longwood
With a size of just 5.6 square miles and a population of around 13,500 at the last census, Longwood is one of the smaller towns in Florida. It is noted for being home to two of the oldest trees in the U.S, which date back over 2,000 years – The Senator and Lady Liberty, both used by the Native American tribes as reference points.
Located around 13 miles – a 30-minute drive – from Orlando, this is a nice, quiet place to establish yourself. It’s just far enough from the hustle and bustle of the city to enjoy the Florida countryside, but near enough to drive in if you want to explore an attraction there for half a day, or go out for dinner or drinks in the evening.
Here are the best 6 things to do in Longwood, FL.
- Planet Obstacle
- Cross Seminole Trail
- Lake Concord Park
- Lil 500 Go-Karts
- Bradlee Mcintyre House
- Red Bug Lake Park
We are serving all of Longwood zip codes including 32750, 32752
Expert Mortgage and Investment Real Estate Advice
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