there are basically 2 types of Florida VA refinance mortgage loans.  One is the streamlined refinance where there is no appraisal requirement and no income qualifications.  It is referred to as the VA Interest Rate Reduction Refinance Loan or the IRRRL.  The other is refinancing your Florida mortgage, from a non-VA type mortgage or receiving cash out.  The cash out rules have changed.

The old cash out maximum’s have changed to benefit any US Veteran Florida homeowner thinking about refinancing to consolidate debts or to begin some home improvements.  Florida Veterans can now borrow up to 100% of their current home appraised value.  This provides more refinancing opportunities for Veterans in today’s tighter Florida mortgagemarkets.  The new loan amount must include the VA Funding Fee and closing costs can be rolled into the new VA Home Loan or paid separately.

For more information about your many benefits regarding your VA Home Loan refinancing options; please call our office at 888.399.0520  and ask for one of our VA Home Loan Specialists or contact me directly at 407.733.6425.

Many Veterans can find great information online while utilizing their VA Entitlement and purchasing their new home.  Start by Googling terms like; Florida VA home loan, Florida VA mortgage, or Florida VA Jumbo loan.  But make sure you compare more than just the interest rate.

Always ask for an upfront Good Faith Estimate reflecting your VA home loan request.  This VA estimate should be very accurate and include all closing costs associated with your VA loan. 

One cost in particular, is the allowed VA origination fee.  This fee is usually illustrated as 1% of the loan amount and is used to cover lender related charges.  Since VA doesn’t allow any “junk” fees, lenders make up that difference by charging this origination fee.

Veterans must compare low fixed VA interest rates with and without this origination fee.  Florida VA mortgage estimates with an origination fee should have a reduced interest rate because the lender is earning more.  For immediate comparison of our current VA home loan fixed Florida mortgages please call one of our Florida Mortgage Professionals at 888.399.0520.

My thoughts on buying down a fixed interest rate have changed with respect to the current VA Home Loan.  Typically a 1% discount point or fee will buy-down a fixed rate by.025%.  Then when calculating recovery periods you find t takes about 60 to 72 months to recoup the cost.  VA mortgage loans currently have lower recovery periods.

To buy down your fixed VA mortgage loan interest rate; you can now pay 1% (that is, 1% of the loan amount) and reduce your interest rate by 0.50%!  The recovery periods run from 30 to 36 months.  If you are purchasing your new Florida home by using your VA Entitlement you need to consider a fixed rate VA mortgage amortized over 30, 25, 20 or 15 years and compare buying the rate down – in today’s market.

For an immediate VA Florida mortgage Good Faith Estimate please contact our office at 888.399.0520 or email info@beechtreemortgage.com.

Thank you to our United States Veterans, everyone currently serving in the US military, and anyone considering to serve and defend our Country.  In today’s squeezed Florida mortgage markets, it’s great to know that Veterans can enjoy some of the best Florida mortgage financing available.    The Veterans Administration provides benefits to qualified Veterans that can’t be beat in today’s Florida mortgage arena.  Our Veterans deserve the very best in Florida mortgage financing.

Florida VA home loans allow no down payments, no monthly mortgage insurance, and no prepayment penalties.  In fact, sellers can contribute towards the Veterans closing costs and even buy-down their current VA home loan interest rate.  That’s the best way to obtain a lower fixed interest rate without having to pay for the discount.  That takes care of recovery period calculations – since it was not paid by the Veteran.

VA home loans are not only available for first time home buyer in Florida.  Florida homeowners who are qualified Veterans, can take advantage of the VA IRRRL, to reduce their interest rate without income or appraisal requirements.  Veteran homeowners can also refinance and take out cash for home improvements or debt consolidation too. 

For immediate assistance with all of your VA home loan questions, contact our experienced Florida VA experts at 888.399.0520 or Florida VA answers.

Great news regarding your VA Entitlement when searching for your new Florida VA Home Loan.  Nothing at all has changed.  Qualified Veterans can still take advantage of the following:

• Save your money – No down payment requirement    
• Lower your payment – No monthly private mortgage insurance    
• Get approved today – More credit flexible underwriting
• Save more money – No lender or bank fees at all
• No appraisal – Refinance with streamlined IRRRL; save time and money
• Lower your Jumbo Payment – VA Jumbo loan amounts allowed

With the news of the new housing bill being signed by Bush I wanted to make sure that Florida Veterans know they have one of the best and stable mortgage programs available to them.  Call one of our Florida VA mortgage professionals, 888.399.0520, and see how much home you are qualified to purchase.

Florida home prices are down and many first time buyers are seeking fixed rate mortgages with little or no down payment.  One of the oldest and best 110% financing programs still remains available to all qualifying Veterans.  The VA Home Loan.

Qualified Veterans can obtain 100% VA financing using their VA Entitlement.  In fact, there is no down payment requirement for loan amounts up to $417,000.  Other benefits include, no prepayment penalties, no monthly private mortgage insurance (PMI), and very low VA fixed interest rates.

If you are a Veteran or know  Veteran who is looking to buy thier first home here in Floirda; have them visit our website or contact one of our VA mortgage consultants at 888.399.0520 to discover all the benefits available with a fixed rate VA Home Loan mortgage.

Veterans searching for their new Florida home and VA home loan; will eventually need to provide their Certificate of Eligibility. This very important VA document is evidence that the Veteran is eligible to use the VA guaranteed home loan benefit. If you can’t locate yours, don’t worry. Here are a couple of ways to obtain your VA Certificate of Eligibility.

Traditionally, you would complete the VA Form 26-1880 and submit it to the VA Eligibility Center located in Winston-Salem, North Carolina. This can be done by the Veteran or with the assistance of your VA Florida Mortgage Professional.

Another method is available through your VA Florida Mortgage Professional. We use the ACE (Automated Certificate of Eligibility) system. This allows us to obtain your Certificate of Eligibility within seconds of request; reducing the traditional method. Keep in mind, although most certificates are retrieved through this Internet based method; some are not. This is usually due to insufficient data available to VA.

If you have questions regarding your VA Certificate of Eligibility or other related VA home loan questions; call our office at 888.399.0520. 

Attention all Veterans seeking a new VA Jumbo sized home loan.  VA allows loan amounts in Florida all the way up to $1,000,000, for qualified Veterans.  Since VA guarantees 100% of the loan amounts up to $417,000; Veterans can “self-insure” the rest.

This is done by allowing qualified Veterans to put 25% of the difference between the purchase price and $417,000.  The advantage for Florida Veterans is the dramatically lower VA 30 year fixed rate.  Veterans can achieve what the rest can’t.  They can purchase beautiful dream homes above the conventional loan limits and borrow Jumbo sixed mortgages at rates that are at least 2.50% lower than non-VA Jumbo fixed rate mortgages.

Veterans purchasing large homes in Florida should call our office at 888-399-0520 and receive their free VA Jumbo fixed rate Good Faith Estimate.  We have been doing this for years and we appreciate your dedicated service to protect our family and our Country.

As a Florida Mortgage Professional it is my job to not only match clients with specific mortgage loans to mee their varying needs; but to also shop for our lowest available interest rates.  I then must update any changes immediately on our very popular web site at BeechTree Mortgage.com .  This morning I noticed something unique to Florida Veterans and their search for fixed rate VA home loans.

Our 30 Year fixed interest rate available to Florida Veterans obtaining VA home loan amounts under the $417,000 loan amount, have increased slightly to almost 6.50%.  The great news, however, is the VA Jumbo Loan 30 year fixed rate is holding at 6.250%.  These are both available with no discount points and no origination fees charged to the Veteran. 

Remember the VA Jumbo home loan is limited to $1,000,000; and requires a down payment.  VA allows no down payment up to the VA home loan guarantee of $417,000.  For more information about a Florida VA fixed rate home loan or VA Jumbo fixed rate mortgage; please feel free to call our office at 888-399-0520 or email us at info@beechtreemortgage.com.

In today’s ever restrictive mortgage market; it’s nice to know that Veterans have a huge advantage when it comes to refinancing their current Florida VA mortgage home loan.

By removing the requirements of an appraisal, income or asset questions; Veterans can refinance into lower fixed rates or lower termed mortgages in a streamlined fashion.  The biggest qualifying criteria is that the Veteran has made the past 12 VA mortgage payments on time.  That’s really about it.

If you think your interest rate is too high or you want to reduce the term on your VA home loan mortgage and save thousands in long term interest; email our VA mortgage professionals or call our office now at 888-399-0520.