Naples FL Blog

VA loans in Florida
November 24th, 2009 9:24 AM

Today I have a guest blogger, Robert Stretch, who is an on line marketing specialist with VAMortgageCenter.com.  Robert has written us an article discussing VA loans.  If you are a Veteran or know a Veteran, you may want to take a moment to read this article.

VA LOANS IN FLORIDA

Thousands of active duty military members and veterans flock to Florida. For some, it’s the perfect place for retirement. Others relocate to the Sunshine State to live near one of its many military installations — there are more than a dozen.

Increasingly, veterans and their families in Florida and across the country are turning to the VA for help in purchasing a home. Veterans have earned significant financial benefits because of their service, and a low-cost, flexible home loan program is one of the major pieces.

In fact, the Department of Veterans Affairs guaranteed more than $68 billion in single-family loans this fiscal year, an 80-percent increase from last year. VA loans feature no down payments or private mortgage insurance — qualified buyers can purchase a home  worth up to $729,000.00 without putting down a single dollar.

Other significant benefits of VA loans include:

  • Negotiable interest rate
  • Sellers can pay up to 6 percent of all closing costs
  • Borrowers can even finance the VA’s funding fee
  • The ability to prepay without financial penalty

Veterans and active duty military in Florida can also use the government’s $8,000 first-time home buyers’ tax credit with a VA loan, making these low-cost loans even more cost-effective.

Veterans don’t need perfect credit to qualify for a VA loan. The program itself does not have income or credit restrictions. But the VA does not issue loans, it only guarantees them. Most lenders who actually provide the loan will examine a prospective borrower’s credit and financial history.

In general, applicants with credit scores below 620 may struggle to obtain financing.

To be eligible for a VA loan, applicants must first get a Certificate of Eligibility (COE) from the VA. This formal document basically proves that the applicant has a VA entitlement. Those who may qualify for a VA loan are:

  • Military members who’ve served 181 days on active duty or three months during war time may be eligible.
  • People who have spent at least a half-dozen years in the National Guard or Reserves
  • Spouses of those killed in the line of duty

Not everyone who meets the eligibility requirements will qualify for a loan. But VA loans help scores of borrowers who might struggle to secure financing. About 80 percent of VA borrowers wouldn’t have been able to qualify for a conventional loan.

The VA uses lending limits throughout the country. Right now, the loan limit in Florida is $417,000.00. The agency also has competitive rates on jumbo loans for home buyers looking to spend more than the loan limit.

Thanks Robert for the great information!

Are you looking to own a home in Naples?  Search here, once at the search page, you can search by development or map area, save your search and new listing updates will be e-mailed to you.

Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

Care to share a comment with us?  Just click on the post a comment link at the bottom of this blog entry.  Comments are always welcome.

Want to subscribe to this blog?  Just click on  Subscribe or the Subscribe link at the bottom of this blog entry.

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Naples.  Her 31 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780.

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Posted in:General
Posted by Lynn H. Wilber on November 24th, 2009 9:24 AMPost a Comment

The Naples Board of Realtors® released the October 2009 home sales report.  The number of pending sales more than doubled comparing October 2008 to October 2009.  While inventory has decreased, the overall Naples market still has an inventory of homes for sale that could last 14 months.

Interestingly, the overall market under $300,000.00 has an inventory that could last 9 months.  A "normal" market is considered to have an inventory that could last 6 months.  It would appear that the bottom of the market for the under $300,000.00 buyers is drawing near. 

If you missed the Naples International Film Festival last weekend, they are showing some of the films for a second time tonight.  I read that their first showing had 1,100 people in attendance at The Phil.  While I was a day late and a dollar short in getting tickets, I did walk over to the Mercato last Friday and had a drink with a friend in the new Silverspot Cinema.  We also had a cheese plate appetizer that was delicious.  While we were there, we ran into several of our friends who had purchased tickets in advance for the show.  The lounge area provided a great place to relax and catch up with friends.

I have to tell you that the restaurants in the Mercato were packed last Friday.  My friend and I tried to get into the newly opened restaurant, Bravo, to no avail.  We ended up meeting my husband Don, at Piola's for pizza.  Our waitress, Ashley, was attentive even with so many customers in the restaurant.  While Piola's offer a ton of different pizza choices, Don still longs for more Chicago style pizza places in Naples.  I have to say that I did enjoy the pizza!

The Naples Botanical Gardens reopens today.  There will be activities and entertainment today and tomorrow for the public.  This 70 acre garden, is the second largest developed botanical garden in the state!  There is even a Children's Garden feature at the Naples Botanical Garden.  If you are in town this weekend visiting the gardens could be a fun family event.

I want to take a moment to wish all my blog readers a very Happy Thanksgiving.  Where ever you are this Thanksgiving it is my wish that you are surrounded by people you wish to be with and that you are able to enjoy the holiday!

Are you looking to own a home in Naples?  Search here, once at the search page, you can search by development or map area, save your search and new listing updates will be e-mailed to you.

Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

Care to share a comment with us?  Just click on the post a comment link at the bottom of this blog entry.  Comments are always welcome.

Want to subscribe to this blog?  Just click on  Subscribe or the Subscribe link at the bottom of this blog entry.

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Naples.  Her 31 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780.

YouTube | Linkedin | Google | Website | Twitter | Facebook   


Posted in:General
Posted by Lynn H. Wilber on November 14th, 2009 1:34 PMLeave a Comment

If you are in Naples this weekend, you might want to spend some time at the first Naples International Film Festival.  Films of various themes will be screened at Silverspot Cinema, the Von Leibig Art Center and the Norris Center.  In addition to all the films being shown, various kids activities and bands will be taking place at the Meracto in the grassy area across from the Silverspot this weekend.  These events certainly sound like fun and even I hope to get over there and enjoy some of the events!

Speaking of events, Halloween on 5th proved to be another fun evening.  Don and I attended along with my brother James and his wife Millie from River Grove, IL.  It was delightful to see all the costumes of not only the kids and adults but also the canines!  I'm not as clever as some when it comes to costumes but I did get in the spirit!

Millie and I get into the Halloween spirit!

While we were on 5th, we decided to grab a quick bit to eat at Bella Maria, which is a tappas restaurant.  I have to tell you that the empanadas were delicious.  Despite the large number of patrons because of the Halloween event, our waiter Carlos managed to get our food and drinks to the table in record time.

During the last couple of weeks we had friends and family fly in from Chicago, Boston and New York to celebrate my husband Don's 60th birthday.  We had a party for Don for which I served one of Don's favorite foods, Chicago Italian Beef Sandwiches.  I had the beef flown in from Serrelli Street in Chicago.  Don longs for a Serrelli Street to come to Naples and truly enjoyed his beef sandwich.  It was a joy to work with Patti Serrelli.

Don enjoys his Chicago Italian Beef Sandwich from Serrelli-Street 

While most of our friends and family had to fly home shortly after the party, my brother James and his wife Millie stayed longer and were able to enjoy some beautiful Naples' sunsets:

James and Milie enjoy Naples sunsets and weather warmer than Chicago land.

A lucky evening at the Seminole Indian Casino with friends from Long Island:

Getting ready for a fun evening at the Seminole Indian Casino

A family tradition of breakfast at the Clock restaurant:

The Clock always has yummy breakfast fare.

and for James, a relaxing time deep sea fishing:

James taking a break while deep sea fishing

It was wonderful that we could be surrounded by friends and family for Don's birthday.  It was also great to be able to share some of the fun things Naples has to offer with them also.

Are you looking to own a home in Naples?  Search here, once at the search page, you can search by development or map area, save your search and new listing updates will be e-mailed to you.

Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation.  Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

Care to share a comment with us?  Just click on the post a comment link at the bottom of this blog entry.  Comments are always welcome.

Want to subscribe to this blog?  Just click on  Subscribe or the Subscribe link at the bottom of this blog entry.

Please note that I receive no compensation for mention of any businesses or events.

About the author:

Lynn Wilber is a Real Estate Professional who lives in Naples.  Her 31 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers.  For more information, please contact Lynn Wilber or call 239-594-2780.

YouTube | Linkedin | Google | Website | Twitter | Facebook   


Posted in:General
Posted by Lynn H. Wilber on November 6th, 2009 11:09 AMLeave a Comment

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