NMLS ID:1747872

 

 

 

© 2018  BEACON POINT MORTGAGE SOLUTIONS, LLC 

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Terms of Use 

LOAN PROGRAMS & RATES expressed are representative of some product offerings but are subject to CHANGE at anytime.

*Florida Second Home Specialist is not a state designation nor a Florida State endorsement.

“THIS PRODUCT OR SERVICE HAS NOT BEEN APPROVED OR ENDORSED BY ANY GOVERNMENTAL AGENCY, AND THIS OFFER IS NOT BEING MADE BY AN AGENCY OF THE GOVERNMENT.” 

Instead this service reflects the scope of our work and commitment to make it easy for out of state residents to finance a second residence in Florida.

 

Call us! 800-466-0664

Veteran Loans

If you are an eligible Veteran than you are in luck.  VA loans are provided by private lenders  to Service members, Veterans, and eligible surviving spouses to become homeowners. The VA Loan provides veterans with a federally guaranteed home loan which may require no down payment. This program was designed to provide housing and assistance for veterans and their families.

The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties.

 

As part of our mission to serve you, we can help you obtain a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain home ownership for your personal use.

What are the advantages of a VA Loan?

A VA Loan is the only mortgage program that will allow you to make a purchase with 100% financing. The interest rates are often the most competitive.  A  Cash Out Refinance loans allow you to use the equity in your property to payoff debt, fund education, or make home improvements. 

  • No down payment as long as the sales price doesn't exceed the appraised value.

  • No private mortgage insurance premium requirement.

  • VA rules limit the amount you can be charged for closing costs.

  • Closing costs may be paid by the seller, generally up to 4%.

  • No pre-payment penalty. The lender can't charge you a penalty fee if you pay the loan off early.

  • You don't have to be a first-time homebuyer.

  • You can reuse the benefit.
  • VA-backed loans are assumable, as long as the person assuming the loan qualifies.

Additionally there are services that may be offered to veterans in danger of defaulting on their loans. The VA may be able to provide you some assistance if you run into difficulty making payments. If property taxes are discouraging you from making your purchase. Don't forget most states including Florida offer tax reduction exemptions that reduce the assessed value of your property based upon your Veteran or Disabled Veteran Status. Contact the Property Appraiser for the county where the property is located or County Assessor for more information.

 

 

 

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Reach your Goal of Home Ownership

Order Certificate of Elegibility & Learn More

VA home loans are available to military personnel that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action.  Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits.

Purchase Loans and Cash-Out Refinance:VA-guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (for active duty service members).

ELIGIILITY REQUIREMENTS

An Interest Rate Reduction Refinance Loan (IRRRL)  sometimes referred to as a Streamline Refinance Loan. This  refinance permits paying off an existing VA loan at a much lower interest rate, thus a lower mortgage payment. 

 

Interest Rate Reduction Refinance Loan: A new Certificate of Eligibility (COE) is not required. You may take your Certificate of Eligibility to show the prior use of your entitlement or your lender may use our e-mail confirmation procedure in lieu of a certificate of eligibility. 

 

REFINANCES

To be eligible, you must have

1. A valid Certificate of Eligibility (COE) is required for your purchase. For a Refinance the lender will want to see your previously issued COE.

HOW TO APPLY 

Satisfactory credit, sufficient income to meet the expected monthly obligations.

UNDERWRITING REQUIREMENT 

VA Elite

Beacon Point 1

Take advantage of industry-leading government rates and pricing. 

  • 640+ FICO

  • $125,000 minimum loan limit

  • Maximum loan amount can exceed county limits

  • Fixed term and ARM loans eligible

  • Single family primary residences

VA IRRRL

Beacon Point 2

Beacon Point serves  those who have bravely served in the Armed Forces with VA IRRRL with no appraisal. Take advantage of your VA benefits by streamlining your current VA loan into a lower interest rate.

  • No underwriting fees or tax service fees.

  • LTVs available up to 150% with no appraisal,

  • No AVMs with a 680+ FICO.

  • No income or asset overlays.

  • Fast closings, often less than 20 days.

ARMS

Beacon Point 3

Beacon Point aggressive ARM pricing can provide a lower payment for you.​

  • 3/1 and 5/1 Treasury ARMs available.

  • Qualify at the note rate.

  • Jumbo loans eligible.