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Veteran's Day 2017 - The VA Home Loan Mortgage

Veteran's Day 2017 - The VA Home Loan Mortgage

November 11th – Happy Veterans Day!

Thank you to all who have faithfully served our great nation in the greatest armed forces in the world!

As a Veteran, a small token of appreciation that we can give back to you for your service and sacrifice is an affordable path to home ownership through the use of a VA loan.

One of the best benefits of a VA home loan is the very low costs of out of pocket expenses for home purchasing versus a traditional home loan.

In most cases, a Veteran can purchase a home with ZERO (0) Down Payment!

The video above, presented by Low VA Rates,  is a quick presentation of how the VA loan process works. Below is a bulleted list of the highlights from the slides.

·        Where and How to start

o   Certificate of Eligibility (COE)

o   Work with a Realtor familiar with VA loans

o   Contact a good VA lender

o   Get pre-qualified

o   Make an offer

o   Get your VA loan done

o   Enjoy your dream home

·        Certificate of Eligibility (COE)

o   Your “Golden Ticket”

o   Demonstrates you are eligible for a VA loan and the VA will guarantee the lender

o   Must have served honorably for a pre-determined period of time

·        Work with a Realtor

o   As a buyer you do not pay for this service (It’s Free!!)

§  The home seller pays for your Realtor’s service

o   Negotiate on your behalf

o   Make sure they have worked with Veterans before

o   Much better deal for you

·        Contact Mortgage Broker who is a reputable VA lender

o   Having an expert VA lender is very important

·        Get Pre-Qualified

o   Job / Pension / Fixed Income

o   Rental history

o   Sufficient Income

o   Credit History (No FICO score requirement!)

·        Make an Offer

o   Your second “Golden Ticket”

o   Pre-approval makes you legit

o   Seller will take you seriously

o   Need to get home under contract

o   Very exciting time

·        Finalize Your VA Loan

o   Validate everything from pre-approval

§  Don’t go out and accumulate new debt (no new car, no financing new furniture, don’t lose your job!)

§  Time frame can be 10 days to over a month

·        Move Into Your Dream Home

o   It is no longer a dream – Keys to your new home!

o   Memories

o   Security

o   Asset

o   Tax Savings

Don't forget to Like and Share this with a Veteran!


What is a Renovation Mortgage?

What is a Renovation Mortgage?

HomeStyle renovation Mortgage.jpg

Renovation Mortgage - What is it? How does it work? Why it's a great option for home buyers in Jacksonville.


Renovation Mortgages permits borrowers to include financing for home improvements in a purchase or re-finance transaction of an existing home. Renovation Mortgages provides a convenient way for borrowers to make renovations, repairs, or improvements totaling up to 50 percent (more or less depending on the program) of the as-completed appraised value of the property with a first mortgage, rather than a second mortgage, home equity line of credit, or other, more costly financing method. Eligible borrowers include individual home buyers, investors, nonprofit organizations, and local government agencies. One of the loans that allows you to customize is the Fannie Mae HomeStyle Renovation Loan . 

Here are the 3 simple and quick steps on how this works:

1.  Renovation cost into loan. No out of pocket.

2. Allows higher LTV up to 95%, than cash out only at 80%.

3. Minimum down payment if using for Purchase.


Many options exists today for a Renovation Mortgage in addition to the FannieMae products.

ARE YOU HAVING A TOUGH TIME LOOKING FOR A HOUSE? Cut search times in half. Because now you can make any home in the right area your DREAM HOME WIN/WIN for everyone!

HAVE YOU SEEN HGTV's FIXER UPPER? This is the Renovation Loan they use in the Show.

Below are a few local Jacksonville and Northeast Florida mortgages brokers that specialize in Renovation Mortgages:

Chris Childers, Sharp Mortgages
904-631-8292 |

Jamie Zeitz, HomeBridge
904-710-1744 |

John Adams, loanDepot
904-639-5571 |

Be sure to tell them that Scott DeVore, Licensed Realtor + General Contractor, recommended them when you contact them!

Also, don't forget to hit like and share our page!!!