THE BEST HOME LOAN IN AMERICA.
VA HOME LOANS
at a Glance
Minimum Down Payment
Minimum Down Payment to avoid PMI
Minimum mid-credit score
Min/ Max Loan Amount
$50,000 - No Upper Loan Amount Limit
Loan Repayment Terms
15 years or 30 years
HELPFUL LINKS FOR VA LOANS:
LOAN SIZE LIMITS
$50,000 Minimum Loan Size
There is no upper limit to VA loan size in Florida.
VA FUNDING FEE
VA collects a one-time funding fee at closing, and the veteran can finance this into the new home loan, instead of having to pay it out-of-pocket at closing. For a Veteran using their benefit for the first time with a down payment < 5%, the funding fee is equal to 2.3%. For a Veteran using their benefit *after the first use*, with the a down payment < 5%, the funding fee is equal to 3.6%, If you have a service-connected disability, you may be entitled to have the funding fee waived entirely.
ACCEPTABLE HOME TYPES
VA accepts the following property types:
* Type 1 Refinance - A cash out refinance of any existing VA loan where the new loan amount and funding fee do NOT exceed the payoff amount of the existing loan.
CONDO APPROVAL WITH VA
Yes, VA financing can be used to purchase condominiums. The condominium association must be approved by the VA.
NOTE: If the name does not appear on the list below, but the condominium association insists that they are approved, please call us and we may be able to help resolve this issue.
Owner-occupied homes only
This is not a commitment to lend. Not all borrowers will qualify for the loan programs listed. All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.