Veterans · Florida
VA loans
The strongest loan product in the country, and the one most frequently left on the table — usually because a listing agent told a veteran that VA offers are hard to close, or because nobody ever explained that the entitlement is reusable.
What makes a VA loan different?
A VA loan offers 100% financing with no down payment and no monthly mortgage insurance at any loan-to-value — the only mainstream program with both. A one-time funding fee of 1.25% to 3.3% applies, can be financed into the loan, and is waived entirely for veterans receiving service-connected disability compensation.
What the benefit actually is
One hundred percent financing with no down payment required at all. No monthly mortgage insurance at any loan-to-value, which is unique to VA. No statutory loan limit for a veteran with full entitlement. The seller may pay all of your closing costs plus up to 4% in concessions. The entitlement is reusable, the loan is assumable by a qualified buyer, and rate-and-term refinancing runs through the IRRRL streamline with minimal documentation.
The funding fee, plainly
VA charges a one-time funding fee instead of monthly mortgage insurance, and it can be financed into the loan rather than paid in cash. On a first-time use with nothing down it is 2.15% of the loan amount; it falls to 1.5% at 5% down and 1.25% at 10% down. Subsequent use with nothing down is 3.3%.
Next step
Find out if this fits your file
Five minutes, no credit pull to start, and a straight answer from a licensed loan officer.
Straight answers
Frequently asked
Do VA loans require mortgage insurance?
No. VA loans carry no monthly mortgage insurance at any loan-to-value, including 100% financing. There is a one-time VA funding fee — 2.15% of the loan amount for a first-time use with less than 5% down — which can be financed into the loan and is waived entirely for veterans receiving service-connected disability compensation, Purple Heart recipients on active duty, and eligible surviving spouses.
Can you use a VA loan more than once?
Yes. VA entitlement is reusable. Once a previous VA loan is paid off, or entitlement is otherwise restored, it can be used again. A subsequent use with less than 5% down carries a higher funding fee of 3.3%, though that fee is still waived for exempt veterans.
Is there a VA loan limit in Florida?
Not for a veteran with full entitlement. County loan limits only apply where entitlement has been partially used or is otherwise reduced. With full entitlement the loan size is governed by what the lender will approve and what the property appraises for.
Often compared with
Related programs
Down payment assistance
Florida Hometown Heroes
Florida Hometown Heroes provides 5% of your first mortgage loan amount toward the down payment and closing costs — a m…
Read moreBuying
First-time buyer
Florida Hometown Heroes provides 5% of the first mortgage, from $10,000 to $35,000, at 0% interest with no monthly pay…
Read moreBuying
Conventional
Three percent for a qualified first-time buyer, and five percent otherwise. Below 20% equity you pay private mortgage…
Read moreTell us the obstacle. We'll tell you if this removes it.
A licensed Florida loan officer, on the phone, with a straight answer either way.