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VA Loan Riverdale Maryland
VA Loan Riverdale Maryland
How Does A VA Home Loan Work in Riverdale Maryland?
We pride ourselves on being the #1 VA Loan lender in Riverdale Maryland. We have gained our reputation as the nations #1 VA Loan lender because we know how critical each day is in the competitive Riverdale Maryland real estate market. We are serving all of College Park Maryland zip-codes including zip code 20737 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 Riverdale 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 Riverdale 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 Riverdale, 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 Riverdale VA Loan, we are offering the following loans as well:
About College Park Maryland
Introduction to Riverdale, Maryland
Riverdale Park, formerly known and often referred to as Riverdale, is a semi-urban town in Prince George’s County, Maryland, United States, a suburb in the Washington, D.C. metropolitan area. The population was 6,955 as of the 2010 U.S. Census.
- College Park Aviation Museum – Flight-focused Smithsonian affiliate
- Riversdale House Museum – History in an early 19th-century house
- Greenbelt Park – Wooded suburban getaway with campgrounds
- Anacostia Tributary Trail System
- Maryland National Capital Park
- Lake Artemesia – Scenic reservoir spanning 38 acres
Why to Live in Riverdale?
Let’s start with the basics: Riverdale Park, MD has a population of 7,223. What about cost of living in Riverdale Park, MD? The median income in Riverdale Park, MD is $64,605 and the median home value is $267,405.
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