You’re about to embark on a lifelong journey that starts with choosing your lender. Sound like enough pressure? We understand that it is and that you will not take this decision lightly. Unlike some other national lenders, we at Nationwide want your experience to feel small town but with the benefits of a powerful, experienced company. If you are here to check out our website and understand what we can offer you, you’ve come to the right place. You will find that Nationwide will offer the best rates—no one will be us in that department and you have our word on that.
Nationwide Home Loans is most proud of what we can do for the men and women that serve this great country. Veterans Affairs loans can serve some of the same purposes as FHA loans by reducing your down payment. VA loans in Fort Lauderdale also extend benefits even further by offering exceptionally low rates on fixed-rate mortgages. These loans are offered by qualifying private lenders—including Nationwide Home Loans—and are made possible through the backing of the federal government, which insures lenders against potential losses.
What Kind of Fort Lauderdale VA Loans Are Available?
The most common mortgage package for VA loans are purchase loans. These loans are provided by private lenders like us, but are protected by the federal government. This backing protects lenders from typical mortgage risks. First and foremost, this means that you are eligible for the best VA loan rates in Fort Lauderdale, but it also means very low interest rates on long term fixed loans.
With this kind of loan, you may be able to get access to credit not extended to you through more traditional avenues or large, corporate banks. Additional benefits include the possibility of no down payment or mortgage insurance requirement, and limited closing costs. This avenue is especially helpful for people who have cash-on-hand obstacles.
In addition to the best VA loan rates in Fort Lauderdale, Nationwide’s refinance loans can allow you to borrow against the equity in your existing home. These loans, worth up to one-hundred-percent of your home’s value, can be your answer to pay off other debts or fund your children’s college education, wedding, or other life event.
VA loan rates in Fort Lauderdale, FL are still at an all-time low and we want you to take advantage of them. Interest rate reduction refinance loans can help you take advantage of favorable market conditions and lower the monthly payments on your home. Refinance loans also provide you with the opportunity to switch from an adjustable-rate to fixed-rate loan, which can provide financial stability. ARMs are scary to have in the long-term and we want our customers to be comfortable for life.
What Else Can Nationwide Home Loans Offer Me?
While we are best known and most proud of being able to offer our service men and women VA loan rates in Fort Lauderdale that cannot be beat, we have many options for the general public. Here, you’ll find an overview.
A reverse mortgage is a low-interest loan for senior homeowners that uses a home’s equity as collateral. The loan amount is a percentage of the home’s value determined by the age of the youngest homeowner. In an economic climate that has been termed unfriendly to the elderly, this can be a good option, but not without risk. The loan does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away. Learn more by contacting a representative.
These are conventional loans that follow the terms and conditions established by the guidelines of Fannie Mae and Freddie Mac. Conforming loans are equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac’s and meets their funding criteria.
- Types of Conforming Loans
- 30 Year Fixed Rate Mortgage
- 15 Year Fixed Rate Mortgage
- Adjustable Rate Mortgages (ARM)
- Conforming 5/1 ARM
A 5/1 ARM product is an adjustable rate mortgage that has a fixed interest rate for the first 5 years, then adjusts annually. The biggest benefit of a 5/1 ARM loan is that the interest rate is lower than just about every other type of mortgage loan available but is consequently risky.
The FHA is a federal government agency within the U.S. Department of Housing and Urban Development, but can commonly be used instead of Fort Lauderdale VA loans.
FHA assists first-time buyers and others who would not qualify for a conventional loan, by providing mortgage insurance to private lenders. Interest rates for an FHA loan are usually the going market rate, while the down payment requirements for an FHA loan are lower than conventional loans. The required down payment can be as low as 3.5 percent and the closing costs can be included in the mortgage amount to help with low cash-on-hand situations.
A jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders and consequently, the interest rate is highter. The limit is $417,000 in most parts of the United States.
In sum, Nationwide Home Loans deal with all types of loans, especially finding you the best VA loan rates in Fort Lauderdale, as well as best conventional loan rates in the country. Click here to visit our website homepage to learn more.