Jacksonville VA Loans
Qualified veterans looking to relocate to Jacksonville, Florida should consider purchasing their new house with a Florida VA Loan. With a Florida VA Loan it is possible to purchase your new family home without having to put a down payment on the house. While most conventional loans require 5 – 20%, this fee is waved when done through the VA. This is just one of many great benefits that come with a VA Loan.
Benefits
Besides not having to put a down payment on your new house in Jacksonville, you also will not be required to pay private monthly mortgage insurance. This greatly reduces your monthly payments which you can use on utilities, groceries or other important expenses. You will also be able to negotiate with your lender for a low interest rate which in some cases will be even lower than the current mortgage market rate. Additional benefits include minimal closing fees, flexible repayment plans, easy refinancing and quick approval.
Eligibility
In order to qualify for a VA Loan in Jacksonville, you must have served 181 days of regular active-duty service in the military. For veterans, you must have also served this length of time and been honorably discharged. There are exceptions to the rules for widows of veterans killed in combat, spouses of POWs, veterans discharged early due to a service-related injury and veterans who served overseas during wartime in WWII, Korea and Vietnam. Be sure to check out all the rules and exceptions to make sure you can qualify. Finally, you will need to fill out an eligibility form with the VA who will then issue you a Certificate of Eligibility (COE) which you will need to present to your lender.
Getting Pre-approved
Once you have your COE, you can go ahead and get pre-approved for a loan. In this way you will know just how much house you will be able to afford. Once you have found your house and lender, you will need to go through all the steps to procure the loan. These steps are similar to a conventional loan and include having the house appraised, providing financial documents and credit checks, paying the closing fees and signing the mortgage and any notes.
Get Started Today and Save
Getting started is easy. Fill out our 1-minute quote request form to see if you qualify.
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