Home Loans for Military Veterans & Active Duty
American Hero Mortgage is a leader in no point, no origination fee mortgage loans. Veterans in Florida who are buying a home can benefit from this program. Rates are not going to stay low forever. Now is the right time to get that house you always wanted. Our program is dedicated to the Veterans that put their personal life on hold each day to serve, protect our country.
As banks tighten lending standards, demand has increased tremendously in recent years for Veterans Affairs mortgages, known as VA loans. The VA loan remains one of the few mortgage options for borrowers who don't have down payments. Available to more than 22 million veterans and active military members, VA loans are somewhat easier to qualify for than conventional mortgages. The VA has guaranteed nearly 500,000 loans this year, says John Bell, assistant director of loan policy at the VA. That's 30 percent more than the number of VA loans issued last year and nearly three times the number of VA loans issued in 2008.
VA helps Service members, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit.
Advantages of a Veteran loan
The days of no-down-payment mortgages are long gone, but not for veterans. Loans guaranteed by the VA can be obtained without any down payment.
Another plus: A VA loan doesn't require mortgage insurance, as do Federal Housing Administration and conventional loans with less than 20 percent down payment. The benefit translates into significant monthly savings for VA borrowers. For instance, a borrower who takes a $200,000 FHA-insured mortgage may pay more than $200 a month for mortgage insurance alone. With a VA loan, you don't have to save all the money you would have to save for a conventional loan.
Veterans Affairs does not require a minimum credit score for a VA loan, but lenders generally have their own internal requirements. Most lenders ask for a credit score of 620 or higher.
Veterans must show sufficient income to repay the loan and shouldn't have excessive debt, but the guidelines are usually more flexible than for conventional loans.
VA guidelines allow veterans to use their home-loan benefits a year or two after bankruptcy or foreclosure.
Mortgages for Veteran in Florida - Mortgages for Veterans in Broward County - Mortgages for Veterans Miami
Please read our testimonial page as to what the Veterans are saying about American Hero Mortgage