As Fannie Mae and Freddie Mac tighten already squeezed underwriting guidelines; Florida first time buyers are finding it tough to obtain a Florida mortgage.  That is, first time buyers who are not Veterans.

Veterans have a great advantage in today’s first time home buyer mortgage market.  A qualified Veteran can borrow 100% of the home sales contract price; because VA will back the Lender with 100% guarantee against default.  Veterans can also obtain their Florida VA home loan without discount points or origination fees, and at lower rates than Fannie Mae or Freddie Mac, conventional, 100% programs. 

In fact, VA’s maximum guarantee includes loan amounts all the way up to $417,000.  If you need to borrow more, with full Entitlement, you can actually put 25% down of the difference between $417,000 and the purchase price.  And all of this is available to qualified Veterans without the need for private mortgage insurance.

If you are a Veteran and need some sound mortgage advice concerning your VA home loan or your Entitlement please feel free to contact our Florida VA mortgage professionals at BeechTree Mortgage, Inc. 

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