VA Loan

Veteran's Loan

The mortgage program was established by the U.S. Department of Veterans Affairs to help veterans and their families obtain home financing.

The department does not directly originate these specific types of loans but they do help dictate the rules and criteria of who may qualify for this type of mortgage loan. They will also back or insure these types of loans. The VA home loans are designed as a long-term financing option for qualified military personnel and their spouses. It is a great program with a lot of opportunities and advantages to refinance or purchase a new home.

Who's Eligible for VA Home Loans in Florida

  • Veterans of War
  • Active-duty Personnel qualifies after approximately six months of service.
  • Members of the reserve and National Guard must wait six years to apply, but if you are called into active duty before that, you gain eligibility after 181 days of service.
  • Surviving spouses of military personnel that have died during active duty
  • Spouses of active-duty personnel who have been captured during active service, detained by a foreign power, or missing in action

You may also qualify for VA construction loans in Florida if you:
Served 90 consecutive days of active service during wartime.
Served 181 days of active service during peacetime.
Have been an active member of the National Guard or Reserves for six years or more.
Are married to a service member who died in the line of duty or as the result of a service-related disability.
Note that time of service is not the only requirement that qualifies you for a VA loan. Applicants must also meet other lender requirements.

Veterans Affairs program provides

  • The purchase of a home with no down payment as long as the amount financed is less than the appraised value
  • Private mortgage insurance is not necessary
  • Lenders are restricted to what can be charged to close a VA loan
  • No pre-payment penalties
  • Future assistance if hardship occurs that results in trouble with making payments

Additional Details

  • You do not have to be a first time home buyer
  • You may utilize this service multiple times if you qualify
  • VA loans are assumable if the assuming person meets the VA qualifications

What are the benefits of VA loans in Florida?

Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.



VA construction loans have no down payment requirement, so homebuyers can finance up to 100 percent of the purchase price of their home. This means that a qualifying veteran who is approved for a mortgage will not be asked to pay any money as a down payment. Homeowners can also refinance up to 100 percent of their home’s value, or in some cases even higher.



VA loans do not require private mortgage insurance. Federal Housing Administration (FHA) loans and conventional loans with less than 20 percent down require PMI, which can add up substantially over the life of the loan. The VA does however charge a funding fee based on the borrower’s type of U.S. service, loan amount, type of loan, and down payment, among other factors.



Although the VA mortgage is not offered directly through the Veterans Administration, the VA home loans are partially guaranteed by the federal government. This allows lenders to offer loans at very competitive terms and interest rates in comparison to other types of mortgages.


While a VA mortgage’s qualifying requirements are less strict than those for a conventional loan, an applicant still needs to have sufficient income to buy a home. However, since many veterans have spent time overseas and have not always established credit, the VA reviews the entire loan profile holistically before making a decision based on a variety of other factors.

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Features of VA loan

All loans are not created equal, a personal loan has become a great option for people to use.

Funding Fee Flexibility

The VA funding fee (which helps the VA offer all the benefits of the VA loan program) can be financed into the loan, so you will not have to pay it upfront in cash.

Not one-time

Another important piece of information: If you are eligible for a VA loan you can use the VA loan benefit over and over again on subsequent homes or when refinancing a VA loan into another VA loan – as long as each loan is repaid first, such as when a home is sold.

Lower Closing Costs

The VA limits the closing costs lenders can charge to VA loan applicants. This is another way that a VA construction loan can be more affordable than other types of loans. Money saved can be used for furniture, moving costs, or anything else.

Not one-time

Another important piece of information: If you are eligible for a VA home loan you can use the VA loan benefit over and over again on subsequent homes or when refinancing a VA loan into another VA loan – as long as each loan is repaid first, such as when a home is sold.


Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

VA loan are a more affordable option for qualified veterans, service members and their spouses.

VA loan are backed, or guaranteed, by the Department of Veterans Affairs. There are different loan types with fixed or adjustable interest rates, and a range of loan terms.

A Certificate of Eligibility.
The VA will issue you a Certificate of Eligibility if you meet their guidelines for type and length of service.
If you don’t have one already, we can apply for your Certificate of Eligibility for you.
A minimum FICO® Score of 620.
A debt-to-income ratio (DTI) of no more than 60%. Estimate your DTI by adding your monthly debt payments (such as credit card and car payments) and dividing the total by your monthly income before taxes.
Money to cover the funding fee charged by the VA. This may be rolled into your loan. You may not have to pay this fee if one of these criteria applies to you:
You have a service-connected disability.
You receive VA disability or have in the past.
You’re a surviving spouse who qualifies.

You or a spouse must move into the home within 60 days. There are exceptions to this, including deployment.
It must be your primary residence, not a vacation home or income property.