Metroplex Mortgage

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USDA and VA Loan Experts

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VA Loans – Understanding the Basics

The VA Loan is available to millions of veterans and active duty members in the United States.

WHAT IS THE VA HOME LOAN BENEFIT?

Per VA.gov, “VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan against loss, enabling the lender to provide you with more favorable terms.”

Additionally, when compared to conventional programs, VA loans offer more flexible qualifying criteria and is commonly known its No Down Payment financing.

WHAT ARE UNIQUE BENEFITS OF THE VA LOAN PROGRAM?

  • 100% Financing: VA loans offer no down payment which offers an immediate reduction in out of pocket expenses!
  • No Private Mortgage Insurance
  • You do NOT have to be a first-time homebuyer
  • Must be an eligible service member to qualify
  • Additional “Bonus” Entitlement can be available – ask for details!

Soldier saluting

VA INTEREST RATE REDUCTION REFINANCE LOAN (IRRRL):

  • Borrower must be eligible for a VA loan
  • Existing mortgage must be a VA loan
  • Acceptable mortgage payment history required
  • No cash out allowed
  • No appraisal required
  • Closing costs can be included with new loan amount
  • Great program which helps reduce monthly payment and interest

CASH-OUT REFINANCE:

  • Borrower must be eligible for a VA loan
  • Existing mortgage does not have to be a VA loan
  • Acceptable mortgage payment history required
  • Existing mortgage/lien is required & property may not be “Free and Clear“
  • Full appraisal is required by a VA appraiser

ARE YOU INTERESTED IN A VA MORTGAGE?

VA approved lender

As a VA approved lender, Metroplex Mortgage Services has dedicated systems in place for VA qualifying which helps walk homebuyers through the process from pre-qualification through closing.

Just call or email to discuss your scenario and let us show you the “Metroplex” difference!

(800) 806-9836 Ext. 280
PreQualify@MPLX.org

Metroplex is a VA Approved Lender. Not only do we understand the VA loan approval process, but most of all we appreciate working with our military heroes! At Metroplex Mortgage Services, we Thank You for your dedication and service!

If you are in the market for a home, it is important to become pre-qualified. You can get started in less than 5 minutes! Or you may contact us with any questions you may have.

GET PRE-QUALIFIED FOR A VA LOAN NOW!
QUESTIONS? CONTACT US HERE.

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What are the 2022 VA Loan Limits in Florida, Texas, Tennessee, and Alabama?

What are the 2022 VA Loan Limits in Florida, Texas, Tennessee, and Alabama? How do you calculate a VA maximum mortgage amount? The VA home loan program can be an extremely powerful option which provides for well-known benefits such as no down payment, no monthly PMI, and flexible credit qualifying. However, the VA program can also be a secret weapon for financing larger loan amounts which is especially important when dealing with properties that have higher sales prices. In today’s
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Requirements for the Florida Homestead Exemption

Requirements For The Florida Homestead Exemption What is the Florida Homestead Exemption? How does the Florida Homestead Exemption work?  The Florida Homestead Exemption allows homeowners in the state of Florida save money on their property taxes by reducing the taxable value of their property. This lower taxable property value then results in lower property taxes. Timing and eligibility details are critical when looking to qualify for this exemption. Let’s break down how the Florida Homestead Exemption works, how and who can
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Differences between FHA, VA, USDA, and Conventional Loans for Private Road Properties

Differences between FHA, VA, USDA, and Conventional Loans for Private Road Properties You found the perfect home, but the property is located on a private road. How do loans for private road properties differ between mortgage programs? How can a property located on a private road affect your loan approval? When a property is located on a private road, there are important steps that need to be taken to help secure financing. However, there are also differences between private road
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How much can a seller contribute towards closing costs for a buyer?

Tampa FL USDA and VA Approved Lender

How much can a seller contribute towards closing costs for a buyer?  What is the most a seller can contribute towards closing costs on USDA, VA, FHA, and Conventional mortgages? How much can a seller contribute towards closing costs for a buyer? Due to the variety of questions we receive on our subject today, I feel it is important to give you the facts in order to help keep your all important financing headed to the closing table! Obviously, the amount
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How do you Qualify for a Mortgage after a Chapter 7 or Chapter 13 Bankruptcy?

Qualify for a mortgage after bankruptcy in Tampa Florida

How do you Qualify for a Mortgage after a Chapter 7 or Chapter 13 Bankruptcy in Florida, Texas, Tennessee, or Alabama? What are Conventional, VA, USDA, and FHA bankruptcy waiting periods? As you can imagine, this is one of the most common questions that we receive and in today’s video I will explain the differences between VA, USDA, Conventional and FHA bankruptcy waiting periods and explain how to qualify for a mortgage after a Chapter 7 or Chapter 13 bankruptcy.
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Metroplex Mortgage

VISUALLY or HEARING IMPAIRED?
CLICK HERE for 42 USC 3606 DISCLOSURE


© 2020 Metroplex Mortgage Services, All Rights Reserved.

OFFICES

Alabama, Florida, and Tennessee

8622 N Himes Avenue
Tampa, FL 33614
Local: 813-935-8330
NMLS # 185264

811 US Hwy 27 S
Sebring, FL 33870
863-593-2001
NMLS # 2152298

Texas

13612 Midway Road, Suite 333-05
Dallas, TX 75244
Local: 972-934-1223
NMLS # 356690

RESOURCES

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  • ABOUT US

Contact Metroplex Mortgage

Metroplex Mortgage Services, Inc. lends in the following states: Alabama, Florida, Tennessee & Texas. Any loan program may require sufficient equity and certain conditions may apply.

As a VA Approved lender, we are not endorsed or affiliated with the Department of Veteran Affairs. As a USDA Approved lender, we are not endorsed or affiliated by the U.S. Department of Agriculture.

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