VA loans are backed by the Department of Veterans Affairs. Serving active duty military, veterans, and surviving spouses, VA loans offer 100% financing with zero monthly mortgage insurance.
Best For:
Eligible active-duty service members, veterans, Reservists, and National Guard personnel.
Key Guidelines & Requirements
- Certificate of Eligibility (COE) verifying qualifying service history
- Generally 580+ credit score (though VA has no official minimum)
- Sufficient residual income based on family size and region
- Must occupy as primary residence
Program Benefits & Considerations
Pros:
- ✓ 0% down payment required
- ✓ No monthly mortgage insurance (PMI)
- ✓ Competitive wholesale interest rates and limited closing fees
Considerations:
- ! One-time VA Funding Fee applies (waived for service-disabled veterans)
- ! Primary residences only (no investment properties)
Frequently Asked Questions
Is a down payment required for a VA loan?
No, qualified veterans can finance 100% of the purchase price.
Is there monthly PMI on a VA loan?
No, VA loans never require monthly mortgage insurance.
See If You Qualify For Florida VA Home Loans
Mark Harris will review your scenario and provide an exact wholesale rate and payment quote.
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