Mortgage Help
Loan information and resources

There are many unique financing options available for active military service members and veterans. Read below to see which option works for you.

Reach out to us any time with questions. We’d be happy to assist you with your home-buying or selling process.

VA Loans
 

VA Loans come highly recommended by financing professionals due to their unique advantages over traditional loans. Some of those unique advantages include no down payment, lower monthly payments, and less stringent qualifications. Because these loans are government-backed, it can be easier to qualify for financing with a VA loan.

While traditional loans require the buyer to carry private mortgage insurance if less than 20% is included as a down payment, VA Loan options forego the need for the buyer to carry PMI. Also, many times young service members haven’t had time to build up a strong credit history. Because of this, VA Loans carry less restrictions when it comes to credit reports and history.

One of the most important features of VA Loans is they contain competitive interest rates. Many VA Loans carry a rate of .5 to a full 1% less than traditional loan rates.

To see if you qualify for a VA Loan, visit HERE.

First Time Home Buyer Programs

 

The Florida Housing Finance Corporation offers several options for those looking to purchase their first home. These programs can help individuals who don’t have a strong credit history, or who haven’t saved up a sizeable down payment.

FHA Loans are the go-to financing option for many first-time home buyers in Florida. These loans are popular because of their flexible requirements and security. They are federally backed and can approve individuals with low credit.

FHA Loans also only require a 3.5% down payment.

See why this loan is so popular by reading more HERE.

Looking to purchase a suburban or rural property eligible for a USDA Loan? READ HERE about this under-utilized financing option including a zero-down payment feature and streamlined approval for those with a credit score of 640 or higher.

Military HAP Program

 

The military’s Housing Assistance Program offers relief for those suffering financial hardships for a variety of reasons.

The HAP program was started to help military members who faced financial struggle due to a Permanent Change of Station. The initiative was put in place decades ago and expanded after the housing crisis of 2008 when impending PCS moves coincided with an almost stagnant market.

Though different versions of the law exist, the root of the bill aims to provide monetary relief to eligible military members “who suffered a financial loss on the sale of their primary residence when they were not able to sell their homes under reasonable terms or conditions.” (Military Wallet)

In 2009, the bill was further expanded to include military members who incurred a significant injury, wound, or illness while in the line of duty.

To see if you are eligible and meet the criteria for the military HAP Program, VISIT HERE.

 

Experiencing a Permanent Change of Station? Check out these guides from Military Town Advisor to help you with the process.