Florida VA Loans

Secure a VA Mortgage in Florida

If you’re a veteran in the state of Florida and you want to purchase a home or refinance your current mortgage, consider a Florida VA loan.  Veterans who have served in the US Armed Services without a dishonorable discharge are eligible for a home loan guaranteed by the Department of Veteran Affairs (VA).

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What is the VA Loan?

The VA loan program exists to help veterans, men and women who have served this nation, purchase homes.  The loans don’t come directly from the VA, however.  Loans are funded by traditional lenders but backed by the VA.  This allows lenders to offer better rates and terms on the loans they provide to veterans, and this, in turn, makes the entire mortgage process simpler and cheaper for veterans.

VA Loan Benefits in Florida

VA loans in FL come with many benefits attached, and to learn more about the details of the VA loan program and what it can do to help you purchase your home, contact a VA loan specialist in your are as soon as possible.  Don’t put it off.

Some of the many benefits provided by VA loans include the following.

• No down payment required.  VA loans are among the last zero-down loans available.
• Lower closing costs.  Some fees are reduced for veterans.  This depends on the lender.
• No private mortgage insurance requirement.  The VA guarantees the loan.
• Low credit, income, and cash reserve requirements.
• No prepayment penalties.  You can pay your loan off as fast as you want.
• A wide variety of loan types and term lengths to meet your needs.

VA Loan Requirements and Eligibility

In order to qualify for a VA loan, you must meet the basic requirements.  You must have served in the military for a period of at least 90 days, continuously.  You must not have been dishonorably discharged.  You must be an American citizen.  A minimum qualifying credit score of 620 is recommended.  Additional requirements may be necessary based on your specific case.  A VA loan specialist can help you determine your options and obtain a certificate of eligibility from the VA office.

VA Refinance

You don’t have to use a VA loan to purchase a home.  You can also refinance your current mortgage to get a lower interest rate with a Florida VA Streamline refinance, or the VA IRRRL refinance.  It’s called a Streamline refinance because it’s quick, inexpensive, and simple.

Another option is the VA Cash-Out, which enables veterans to withdraw up to 100% of the equity out of their home to use as spendable cash. The Cash-Out refinance enables veterans to refinance into a VA loan if they do not already have one as well. 

A refinance is a good option if you’re able to secure an interest rate lower than your current interest rate.  This can save you a lot of money on your monthly payments.  Read below for further information about interest rates.

Florida VA Mortgage Rates

Mortgage rates for VA loans differ from place to place, and the rate you get may be higher or lower based on your credit score.  Lenders typically offer significantly lower rates to veterans, though.  You shouldn’t have any trouble securing a solid deal.  Still, do some research before you settle on a lender.  Compare mortgage rates in your area and contact several local lenders to get an idea of the current rates available in the market.  Fill out the form above to get started.

VA Lenders in Florida

You can use the above form to get in touch with several local Florida VA lenders.  The lenders in our network are specifically qualified to handle VA loans and have experience doing so.  It’s important to get in touch with at least four local lenders before you decide who to work with.  All lenders offer slightly different terms and rates.  Also, VA loan limits vary from place to place.  Only a local professional will be able to keep you posted with any changes made to the VA program.  You can get additional information from the Department of Veteran Affairs.

Florida Military Information

Florida boasts 11 active military bases.  Tyndall Air Force Base, MacDill Air Force Base, Hurlburt Field, Eglin Air Force Base, and Pensacola Naval Air Station are among the largest and most well known.  Many veterans who have served at these bases are eligible for VA loans in Florida.

VA Loan Lending Limits in Florida

Lenders in: Florida.