What should you know about VA loans through NHL Lending in Port Saint Lucie?

At NHL Lending we believe that knowledge is power, especially with VA home loans and the current VA loan rates. Home loan education is of particular importance if you are in search of a new home or a lower payment with a refinance. Because many are not completely sure home VA home loans work, NHL Lending can spread our research, expertise, and education.

First, it may come as a surprise to you, but 90 percent of VA home loans come with no down payment? It is amazing how many veterans and active military members have ended up purchasing a home without spending any money up front. Not needing a down payment can be helpful if you do not have a lot of money to invest in a new home right away.

Second, VA refinance loans have increased by 750 percent since 2006 which is an amazing fact! The home loan program through the VA can allow veterans with and without original VA home loans to refinance. This means that you will be able to take advantage of today’s low-interest rates (which are currently at an all-time low).

Do you not have a lot of money saved for a new home and are worried that you will not get approved for a home loan? If this sounds like you, then you should know that the average VA borrower has less than $7,000 in assets! This isn’t an estimate. In fact, this statistic comes from National Mortgage News. This means that veterans or active military members do not need a mountain of cash in their bank account to secure a VA home loan or to obtain low VA loan rates.

More importantly, you should know that eight in ten VA home loan borrowers couldn’t have secured conventional financing with any other type of home loan. However, with the flexible credit and underwriting standards that go hand in hand with VA home loans, it can help veterans with less than perfect financial profiles become homebuyers quickly. If you would like to find out if you qualify for a VA home loan or want to see what the current VA loan rates are through NHL Lending in Port Saint Lucie, contact us today!

Will your VA home loan guarantee the perfect home without problems?

It is important that you understand what the VA cannot do when it comes to your new home loan. First, the VA cannot guarantee that your newly purchased house will be free of defects. It is important that you know that the VA appraisal is NOT intended to be and “inspection” of your chosen property. Therefore, if you have any question about the condition of the house, it is an excellent idea to seek expert advice before you legally commit yourself by signing a purchase agreement. In fact, almost all sellers will allow you to arrange for an inspection of the home by a qualified residential inspection service. After this inspection, you can then negotiate you’re concerning repairs with the seller and have these fixes included in the purchase agreement. By taking these actions, you can prevent later problems, disagreements, and disappointments. Just remember that the VA guarantees your home loan, but they do not ensure the condition of the property of the home that you are interested in. Second, the VA cannot compel a builder of your home to correct construction defects or otherwise live up to their contract. Third, the VA will not be able to guarantee that your purchase is a sound investment. They also cannot promise that you will be able to sell the house for what you paid for it. Lastly, they will not be able to provide you with legal services regarding your home or your loan. If you would like to begin the application for your VA home loan, contact NHL Lending in Port Saint Lucie today!

Can you purchase your home with a VA home loan through NHL Lending?

Many times, we find it easy to focus on the latest headlines and ignore the underlying reasons for why owning real estate is important to most Americans. But, deep down, we all know that homeowners gain by simply having a special place that they have selected to live in on their own. They enjoy the ability and freedom to redecorate their home or alter their landscaping whenever they want too. When it comes to the financial side of owning your home, you know have the ability to obtain financing that guarantees the fact that you will have set payments and that your monthly payments won’t change in the future. This can be a game changer since we are all so used to seeing the price of many essential items increasing over time. For this reason, having set housing costs will be able to give you more financial security than most renters can achieve. Owning your home can be easy with the help of a VA home loan through NHL Lending in Port Saint Lucie!