Find your perfect home with a VA loan through NHL lending in Tampa!
Recent VA home loan rates were below their levels despite the predicted forecast for higher rates. The current rates are almost an entire point lower than they were a year ago. These lower rates have a lot to do with the current international unrest that is causing investors to purchase U.S. Treasury bonds, and that demand is what is responsible for the low VA loan rates.
While there are certain qualifications that you will have to meet to be eligible for a VA home loan, NHL Lending in Tampa can help. They can sit down with you and find out if you are qualified and help you fill out all of the necessary paperwork.
It is important to know that the continued economic growth that is currently occurring in America may cause interest rates to increase in the future. This means that higher mortgage rates are looming in the future. Due to this fact, now is the best time to lock in these low mortgage rates and purchase the home of your dreams. You can learn more about VA home loans, contact NHL Lending today.
How can you use your VA home loan in Tampa?
How can you use your VA home loan and can you use it for more than just purchasing a home? You may use your VA-guaranteed financing for the following:
• To buy a home, new or used
• To purchase a townhouse or condominium unit in a project that has been approved by VA
• To build a new home
• To repair, alter, or improve a current home
• To simultaneously purchase and improve (repair) a home
• To improve your current home through installment of a solar heating and cooling system or other energy efficient improvements
• To refinance an existing home loan that you currently have
• To refinance an existing VA loan to reduce the interest rate
• Add energy efficiency improvements
• To buy a manufactured (mobile) home and lot
• To buy and improve a current lot on which to place a manufactured home that you already own and occupy
• To refinance a manufactured home loan to acquire a lot for that home
As you can see, there are many uses for your VA home loan benefits. In fact, these home loans are very versatile and can help you out in some situations. If you would like to learn more about VA home loans in Tampa, contact our lenders today.
Are you eligible for a VA home loan in Tampa?
First, you may want to know what service does not qualify you to use a VA home loan. You will not be eligible for VA financing based on the following services:
• World War I service
• Active Duty for Training in the Reserves
• Active Duty for Training in the National Guard unless you were “activated” under the authority of title 10, U.S. Code
If you were involved in the above-mentioned services, then you should know that you may be eligible for other veterans’ home loan benefit. If you participated in the above-mentioned services, then you may qualify you for a HUD/FHA veterans’ loan. In fact, under the National Housing Act loan program, the Federal Housing Administration of the Department of Housing and Urban Development administers a loan program for veterans. You will also want to know that financing under this program is available under more favorable terms than the terms that are available to nonveterans. Again, this is something that our lenders can help you find out if your eligible to receive these benefits by helping you complete VA Form 26-8261a. If you have lost your discharge papers, then you will want to obtain a Certificate instead of Lost or Destroyed Discharge so that you can take advantage of these housing benefits.
Are you worried that your home loan entitlement may expire? If so, then worry no more! As a matter of fact, your home loan eligibility is good until you are ready to use it as long as you remain on active duty. If you are discharged or released from active duty before using their entitlement, a new determination of your eligibility will have to be made. This new decision will be based on the length of your service and the type of discharge that you received. To learn more about your eligibility, ask questions, or to get more information about VA home loans in Tampa, contact NHL Lending.