A friend recently asked me as an experienced FL mortgage professional of 18 years, what was my favorite loan program.  It has to be a VA home loan or VA Jumbo loan – of course.  There are so many advantages for qualified Veterans here in Florida whether purchasing a home under $417,000 or even higher.

FL VA home loans are limited to county limits, same as Fannie Mae and Freddie Mac.  For example, if you are a qualified Veteran seeking to purchase your dream home here in Brevard County, you could purchase a home up to $417,000; assuming you have enough VA Entitlement of course.  And the advantages are as follows:

  • No down payment requirement
  • No monthly private mortgage insurance payment
  • No prepayment penalty
  • Typically lower fixed rate than conventional loans
  • Sellers can contribute up to 4% towards Veterans closing costs and prepaids

And for those Veterans seeking a FL VA home loan for a home that is higher in price; you may qualify for a VA Jumbo loan.  Here’s an example; lets say the purchase price for your Brevard County dream home is $517,000.  Assuming you have enough VA Entitlement, you may be able to put $25,000 towards down payment and finance the remaining $492,000.  That, is less than 5% down payment and there is no private mortgage insurance.  And the interest rate for a VA Jumbo fixed loan is typically lower than on a standard Jumbo fixed rate mortgage

VA home loans for FL Veterans are, I believe, one of the best programs available for no down payment buyers, up to the County limits, and definitely something to consider for well qualifed US Veterans seeking to purchase and exceed those County limits.  For more information on qualifying for a VA home loan or VA Jumbo mortgage loan please feel free to call 800.333.3004 X3560 or email me at sthaggard@embracehomeloans.com.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  5500 Murrell Road Suite 201, Viera, FL 32940