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VA Loan North Patomac Maryland
VA Loan North Patomac Maryland
How Does A VA Home Loan Work in North Patomac Maryland?
We pride ourselves on being the #1 VA Loan lender in North Patomac Maryland. We have gained our reputation as the nations #1 VA Loan lender because we know how critical each day is in the competitive North Patomac Maryland real estate market. We are serving all of North Patomac Maryland zip-codes including zip code 20850, 20878, 20997 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 North Patomac 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 North Patomac 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 North Patomac, 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 North Patomac VA Loan, we are offering the following loans as well:
About North Patomac Maryland
Introduction to North Patomac, Maryland
North Potomac is a census-designated place and unincorporated area in Montgomery County, Maryland, United States. It is located less than 5 miles north of the Potomac River, and is about 20 miles from Washington, D.C. It has a population of 23,790 as of 2020. North Potomac is a suburb of Washington, D.C. with a population of 23,914. North Potomac is in Montgomery County and is one of the best places to live in Maryland. Many families live in North Potomac and residents tend to lean liberal. The public schools in North Potomac are highly rated. Frederick, Easton, Rockville and Baltimore are among the best places to live in Maryland. Located near Washington D.C., many Maryland residents work in the service sector, for government agencies or contractors.
- Seneca Creek State Park – Sprawling oasis for fishing & hunting
- Carl Henn Millennium Trail
- Clopper Lake – Lake and fishing
- Muddy Branch Greenway Trail trailhead
- Aberdeen Local Park
- Riverbend Park – Hiking trails & river recreation
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