Tag: mortgage

the Mortgage Process in Puerto Rico

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Process of Obtaining a Mortgage The process of obtaining a mortgage for buying a home in Puerto Rico is similar to the process in many other places, but there are some specific aspects to consider due to Puerto Rico’s unique status as a territory of the United States. In this essay, I will outline the general steps involved in the mortgage process for purchasing a home in Puerto Rico. The first step in the mortgage process is to assess your financial situation and determine how much you can afford. This…

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Homebuying Tips: Getting Approved for VA Loan

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7 VA Loan Tips for Veterans

One standout benefit of serving in the military, National Guard, or Reserves is your qualification to apply for a VA mortgage. Administered through a broad range of lending institutions, VA loans are guaranteed by the federal government. That’s why they usually feature lower interest rates and more flexible qualification standards. Many service members buy their homes through the VA with no money down. Overall, lenders consider VA loans less risky than conventional private mortgages. To be eligible for a VA loan, you need to be an active or former member…

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