If you’re a veteran looking to purchase a home in Maryland, a VA loan may be the perfect option for you. These loans, which are backed by the Department of Veterans Affairs, offer a number of benefits, including no down payment requirements and more lenient credit standards. First Home Mortgage is here to help — contact us when purchasing your next home!
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Understand the Eligibility Requirements
Before you begin the process of getting a VA loan in Maryland, it’s important to understand the eligibility requirements. These requirements vary depending on the type of service and the length of service, but generally, veterans and active-duty service members are eligible. Additionally, some surviving spouses may also be eligible. It’s important to confirm your eligibility with the VA, so you can be sure that you qualify for a VA loan.
Consider Down Payment Assistance
One of the major benefits of a VA loan is that there is no down payment requirement. However, if you’re looking to purchase a home in Maryland, you may want to consider down payment assistance programs. These programs, which are offered by state and local organizations, can provide you with the funds you need to make a down payment. First Home Mortgage offers our own assistance programs, so get in touch with one of our experienced team members to learn more.
Get Pre-Approved
Before you start shopping for a home, it’s important to get pre-approved for a VA loan. When you get pre-approved, the lender will review your credit, income, and assets to determine how much you qualify for. This process will also help you identify any issues that need to be addressed before you apply for a loan.
Work with A VA-approved Lender
To get a VA loan in Maryland, you’ll need to work with a VA-approved lender. It’s important to shop around and compare rates and fees from different lenders to find the best deal. Be sure to also ask about any additional services that the lender may offer, like closing cost assistance or credit counseling.
The My Home Mortgage Team at First Home Mortgage is a Top Rated Local® lender with the widest range of Down Payment Assistance Programs. Purchasing a home is one of life’s most significant purchases, so contact us to get started today!
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Testimonials
Patient & Helpful
Tammi was very patient and very helpful throughout the entire application process. Being a first-time home buyer I didn't know a lot of this which made me frustrated but I was able to get approved and now I am a homeowner thanks to Tammi!
— James C.
No Pressure or Stress!
Tammi Lewis made my home buying experience very easy. I felt no stress or pressure. Tammi was with me every step and made sure I understood everything with detailed talks. My credit score was low and Tammi advised me how to raise it. So that the Loan process would be approved with no problems. Any one know that wants to buy their first home I am recommending Tammi Lewis and First Home Mortgage.
— Charlie F.
Professional & Timely
Rob made sure my experience as a first time home buyer was smooth and painless. Very professional and got things done in a timely manner. Could not have asked for more!
— Samantha J.
Great Experience for a New Homeowner
Rob was at all times, willing to go over the numerous pages of information with me. I am a new homeowner and had many as this was my first time navigating the home-buying waters. He explained things to me in a way that I understood and got me all of my documents in a timely and efficient manner. I enjoyed working with him and would refer him to anyone who is looking.
— Erica F.