VA Loans

• No down payment as long as the sales price doesn't exceed the appraised value.
• No First Time Homeowner required.
• Lower credit scores possible.
• Can be combined with Florida Bond and FHLB (Federal Home Loan Bank) programs.
• One-time VA Funding Fee required. VA Funding Fee higher the second time the VA Loan is used.
• No private mortgage insurance premium requirement.
• VA rules limit the amount you can be charged for closing costs.
• Closing costs may be paid by the seller.
• No Prepayment Penalty Fee if the loan is paid out early
• Lender credit available.
• VA may be able to provide you with some assistance if you run into difficulty making payments.
• You can reuse the benefit but the cost is higher the second time.
• VA-backed loans are assumable, as long as the person assuming the loan qualifies.
• Must have Certificate of Eligibility and DD214 form.
• Primary Residences only