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VA Loans in Florence Alabama and the Surrounding Areas
Serving those who have served their country, VA Loans in Florence Alabama can be perfect choices for veterans, active duty members of the military, and even spouses of those who have served. If you meet the lenient requirements set by the U.S. Department of Veterans Affairs, you could take advantage of significant benefits that are not offered to the average potential borrower. These include the option to make no down payment with 100% financing, no need to get private mortgage insurance, and interest rates that are competitive. If you choose to get a VA Loan from The Mortgage Link, you’re joining fellow service members who have taken advantage of this program since 1944.
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The Big Benefits of VA Loans
- With 100% financing, there’s no need for a down payment
- No need to pay mortgage insurance each month
- Debt-to-income ratios of 50% and higher may not disqualify potential borrowers
- Closing costs are regulated and often lower than with conventional mortgages
- VA compensation to eliminate the funding fee is available to some borrowers
- With generous loan limits, you may be able to qualify for a Jumbo Loan exceeding the usual limit in your housing market
- Flexibility to choose a condo, single-family home, manufactured house, and, in some cases, new construction
- Closing costs can be paid by the seller, up to 4% of the loan’s total
- Lower your monthly mortgage payments through refinancing
- No income limit to qualify
- No limit for purchase price
- More relaxed credit requirements in comparison to conventional loans
- Qualified borrowers can get more than one VA Loan, from refinancing to the purchase of a second home
So give us a call today to learn more and see how a VA Loan might be the right choice to help you with refinancing or buying a home in Mississippi.