Your Service. Your Home. A Benefit Worth Understanding.
For eligible military borrowers, a VA loan can offer no down payment and no monthly mortgage insurance. Let’s review your eligibility and build a home financing plan around your next chapter.
What is a VA loan?
A VA loan is a mortgage made by a lender and backed by the U.S. Department of Veterans Affairs. Eligible Veterans, service members, and certain surviving spouses may use this benefit to finance a primary residence.
Great For
Situations where this program may be worth exploring, subject to eligibility and underwriting.
Eligible military buyers
A useful starting point for borrowers who may qualify through military service or surviving-spouse eligibility.
Keeping savings available
Eligible borrowers may purchase with no down payment when entitlement, the purchase price, appraisal, and lender requirements allow.
Buying again after a move
The VA benefit can be reused. We’ll review any existing VA loan and your available entitlement before planning the next purchase.
The basics to understand before you apply
- Certificate of Eligibility: Your COE helps confirm your service-based eligibility and entitlement. It does not replace loan approval.
- No monthly mortgage insurance: VA loans do not require conventional PMI or FHA mortgage insurance.
- Funding fee: A VA funding fee may apply each time you obtain a VA loan unless you qualify for an exemption. It is charged once per loan, rather than monthly. If financed, it increases your loan balance and the interest paid.
- Closing costs: No down payment does not mean no money is needed at closing. We’ll review fees, prepaid taxes and insurance, and any permitted credits.
- Occupancy and property: The home must meet VA requirements and be intended for your own occupancy. Eligible properties may include a one- to four-unit home when you occupy a unit.
Is there a VA loan limit in Florida?
Borrowers with full entitlement do not have a VA county loan limit. Your approved amount still depends on income, credit, the property’s value, and lender requirements.
If you have remaining rather than full entitlement—for example, an existing VA loan—county limits can affect the amount available without a down payment. We’ll review your COE and current obligations before quoting a plan.
Documents we’ll usually start with
Your checklist depends on how you earn income and your individual circumstances. Common starting items include:
- Certificate of Eligibility, or service information so we can help request it
- DD Form 214, a statement of service, or other applicable eligibility records
- Recent pay stubs, W-2s, and documents for retirement or other qualifying income
- Bank statements and details of monthly debts
- Information about an existing VA loan and funding-fee exemption documentation, when applicable
We may request additional records during underwriting. Clear, complete documentation helps us give you useful answers early.
Common questions
Is the benefit only for first-time buyers?
No. Eligible borrowers can use VA financing more than once, subject to entitlement and loan requirements.
Is every eligible borrower exempt from the funding fee?
No. Eligibility for a VA loan does not automatically exempt you from the funding fee. Exemptions include:
- Veterans receiving VA compensation for a service-connected disability.
- Veterans entitled to that compensation who receive retirement or active-duty pay instead.
- Surviving spouses receiving Dependency and Indemnity Compensation (DIC).
- Service members with a proposed or memorandum VA rating received before closing that establishes eligibility for compensation based on a pre-discharge claim.
- Active-duty service members who provide evidence, on or before closing, that they have received a Purple Heart.
I’ll help confirm your exemption status with the lender and VA before closing.
Does no down payment mean no closing costs?
No. Closing costs and prepaid expenses may still apply. The final amount depends on your transaction, any allowable credits, the funding fee, and whether a down payment is needed.
Have a question about eligibility? Ask Tom to review your scenario. Program information reviewed October 7, 2026.
Let’s see how this fits your homebuying plans.
We’ll review your interest rate, monthly payment, and closing costs together so you understand how the loan fits your goals.