A VA Loan in Florida is an extraordinary financing tool for our country's vets! It is one of the best things that the United States Congress ever did for our nation's military veterans and it humbles me and makes me very proud to be able to assist our country's veterans and active military personnel, and their families, with this incredible loan.
The maximum mortgage amount for a VA Loan in Florida is currently $417,000. A VA loan in Florida requires a down payment of 0% or $0. If you were going with a 5% down conventional loan, this would be saving you $20,850. If you were putting 10% down on a conventional loan, your VA loan in Florida would save you $41,700! And there is $Zero monthly MI on their VA loan.
For a Veteran, your VA loan in Florida is even better than an FHA loan.
There are a lot of false perceptions about using a VA Loan in Florida for your real estate transaction, and I am will begin dispelling them right now:
First, using a VA Loan in Florida is a bit stricter on property condition than an FHA loan even though they are both considered ‘government' loans. The VA appraiser will be checking out the most of the functional areas of the home, as the Veteran's Administration in Washington, DC, is going to make sure that the home is safe, healthy, and habitable for their vets.
The need for repairs is not a good reason to shy away from a VA Loan in Florida buyer! The listing agents will know up front what repairs will be required and should have their sellers prepped for this contingency anyways.
Veterans can also use their VA eligibility and the VA Loan in Florida product to refinance their current home loan. If the veteran's current loan is a VA loan, there is even a way to refinance without needing a new appraisal!
There are many other great reasons to use a VA Loan in Florida. I will be blogging about them all in my new VA Loan in Florida series. And, I am a VA Financing Expert. I am the expert knowledge source for all of your VA Loan in Florida questions so catch all of the articles in this series.
Andy Brown, Your VA, FHA, and USDA/RD Financing Expert! www.OnLineFloridaMortgage.com