VA Home Loans in Bridgeport Illinois
For eligible veterans and active duty military personnel a Bridgeport VA mortgage loan can be a wonderful benefit to take advantage of. The Department of Veterans Affairs guarantees these loans, which can finance as much as 100% of the value of the property, ensuring low rates and easier qualification guidelines when compared to conventional loans.
Bridgeport VA Benefits
In addition to the excellent VA mortgage rates, and no money down option there are a number of advantages to obtaining a Bridgeport VA home loan, such as:
- Buy a Bridgeport Home with No Down Payment
- Refinance up to 120% of your Home’s Value
- Use your VA Benefits even if you used them in the past
- Ask us how we can pay for your pest inspection
- No mortgage insurance premiums
![VA Mortgage Loans](https://brmortgagebrokers.com/wp-content/uploads/2018/08/va-home-loans.jpg)
Get Pre-Approved for a Bridgeport VA Home Loan
Bridgeport VA One Time Construction to Close
Building a Bridgeport home might be complicated, but financing it doesn’t have to be. This is where our One-Time Close Construction to Permanent Loan comes in. Financing the land and construction in two phases seems a little cumbersome to us. Rather than one closing prior to breaking ground, and then a second closing prior to move in day, this program has just one closing. In one settlement the financing for the construction, lot purchase (if not already owned), and permanent loan are all arranged.
Benefits of a Bridgeport One Time Close Construction to Permanent Loan.
One appraisal, one set of closing costs, one underwriting and approval process…Eliminating the redundancy of a second closing reduces all of these costs, potentially saving the borrowers time and money when it counts.
Because the interest rate is locked in prior to the single closing and before the start of building, it eliminates the concern that rates could rise during construction. Any increase in rates could make the home less affordable or even jeopardize loan approval if ratios are tight.
Once the loan is finalized, the payments don’t start until the home is complete. This is a huge selling point for many buyers who need to pay for another place to live until they can move into the new property.
Once the closing is complete and the loan is in place, borrowers don’t have to worry about re-qualifying. With many traditional construction to permanent loans, the buyers will have to re-qualify at the end of the construction phase. Now the buyers can enjoy preparing for life in the new home without concern that purchasing new furniture or other items could impact their loan approval.
![VA Construction Loan](https://brmortgagebrokers.com/wp-content/uploads/2018/08/va-construction-loan.jpg)
Bridgeport VA Mortgage Hotline 888-882-1058
![VA Home Renovation](https://brmortgagebrokers.com/wp-content/uploads/2018/08/va-renovation-home-loan.jpg)
VA Renovation Hotline 888-882-1058
Bridgeport VA Renovation Loan
The VA Renovation Loan brings together some of the most innovative and attractive features of several popular mortgage programs. It provides no money down financing that covers not only the current value of the property, but the cost of remodeling and repairs as well. This program is intended for minor updates and work done on the home at a cost under $50,000, with no minimum renovation cost requirement. Because the Veteran Administration requires that a property meet minimum property standards in order to qualify for Bridgeport VA financing, it is not uncommon for deals to fall through during the inspection phase. The seller may not want to pay for all the repairs needed to ensure the home meets the VA’s high standards. With a Bridgeport VA Renovation Loan the buyers may be able to move forward with the purchase of a home they love, while borrowing the additional funds needed to fix the issues with the property, still with zero down payment.
Bridgeport is a historic seaport city in the U.S. state of Connecticut. The largest city in the state, it is located in Fairfield County at the mouth of the Pequonnock River on Long Island Sound. As of 2017, Bridgeport had an estimated population of 151,267,[4] making it also the 5th-most populous in New England[5] Located 60 miles from Manhattan and 40 miles from the Bronx, it is bordered by the towns of Trumbull to the north, Fairfield to the west, and Stratford to the east. The Greater Bridgeport area is the 48th-largest urban area in the United States.
The showman P.T. Barnum was a resident of the city and served as the town’s mayor in the late 19th century. Barnum built four houses in Bridgeport, and housed his circus in town during winter. The first Subway restaurant opened in the North End section of the city in 1965.[6] The Frisbie Pie Company was located here, and Bridgeport is credited as the birthplace of the Frisbee.[7]