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