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VA Loan Venice
VA LOAN Venice
CambridgeHomeLoan.com is #1 VA Loans lender in Venice. We have gained our reputation as the fastest VA Loans lender in multifamily loans and bridge lending because we know how critical each day is in the competitive Venice real estate market. We are serving all of Venice zip-codes including 34284, 34285, 34286, 34287, 34290, 34291, 34292.CambridgeHomeLoan.com
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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 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 and does not need a down payment.
How Does A VA Home Loan Work in Venice, Florida?
VA home loan are non-conventional home loans. Since the VA loans 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.
What are the VA Home Loan Requirements?
To get a VA loan in West Palm Beach, 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 honourably 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, you need to get a Certificate of Eligibility to prove to lenders that you are qualified for a VA loan.
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.
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Venice is a city in Sarasota County, Florida, United States. The city includes what locals call “Venice Island”, a portion of the mainland that is accessed via bridges over the artificially created Intracoastal Waterway. The city is located south of Nokomis and north of Englewood. As of the 2020 Census, the city had a population of 25432. It is noted for its large snowbird population and was voted as a top 10 Happiest Seaside Towns by Coastal Living. Venice is part of the North Port–Sarasota–Bradenton metropolitan statistical area.
According to the United States Census Bureau, the city has a total area of 16.6 square miles (43.1 km2), of which 15.3 square miles (39.5 km2) is land and 1.4 square miles (3.5 km2), or 8.19%, is water. The climate of Venice is Humid Subtropical, bordering very closely on a Tropical Savanna climate and features pronounced wet and dry seasons.
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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