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.
VA loans are government-insured home loans that are a military benefit to qualifying veterans of the United States military in exchange for their service to our country.
The defining trait of a VA loan is that there is no down payment requirement. Like Conventional or FHA loans, qualifying is straight-forward, although income is calculated in a slightly more comprehensive manner. The home being financed undergoes a more rigorous home appraisal inspection to ensure that the veteran is buying a quality home free of structural and/or deferred maintenance issues. Additionally, VA loans tend to be more flexible on past credit troubles.
Have you experienced a recent housing event, such as a foreclosure, bankruptcy, short sale, deep-in-lieu? Be sure to check our WAITING PERIOD CHART to make sure that the proper waiting period has elapsed.
If you are relocating to the Greater Tampa Bay area and surrounding communities, like Tampa, Riverview, Wesley Chapel, Trinity, Apollo Beach, Hyde Park, Clearwater, Safety Harbor, St Petersburg, Carrollwood, Westchase, Lutz or Lithia, we understand the local communities. If you are Active-Duty and are being stationed at MacDill AFB, we can make the transition go smoothly.
If you're a qualifying US Veteran, and have questions about VA financing, we'd love the opportunity to answer all of your questions.
LOAN SIZE LIMITS
$50,000 Minimum Loan Size
There is no upper limit to VA loan size in Florida.
ACCEPTABLE HOME TYPES
VA accepts the following property types:
TIP: Start by selecting VA first to see VA payment options
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.
VA Financing 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
* 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.
Owner-occupied homes only
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.
View Current VA Funding Fee Chart
View Condominiums Approved by VA
VIEW WAITING PERIOD CHART
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