Loan Programs · VA
VA home loans in Florida.
Zero down payment. No PMI. Competitive rates. The VA loan benefit is one of the most powerful tools available to U.S. veterans and active-duty service members — and one of the most underused.
0%
Down Payment
None
PMI Required
None*
Loan Limit
0–3.3%
Funding Fee
Why VA beats everything else
The benefits, in plain English.
0% Down Payment
The only widely available zero-down program for non-rural buyers. Keep your savings invested or in reserve rather than tied up in a down payment.
No PMI, Ever
Conventional loans require PMI when you're under 20% equity. FHA requires MIP. VA loans have neither — saving $200–$600/month on a typical purchase.
No Loan Limit
Veterans with full entitlement can borrow any amount a lender approves without needing a down payment. Especially powerful in Orlando's higher price ranges.
Competitive Rates
VA loans consistently have lower rates than conventional loans for comparable borrowers — typically 0.25–0.5% lower — because the government guarantee reduces lender risk.
Flexible Credit
No official minimum credit score from the VA. Most lenders want 580–620. The program accommodates borrowers with credit events that would disqualify them from conventional programs.
Reusable Benefit
You can use VA financing multiple times — for a new purchase after selling, simultaneously if you have remaining entitlement, or after a foreclosure in some cases.
Who qualifies
VA loan eligibility.
| Who | Service Requirement |
|---|---|
| Active Duty Service Members | 90 continuous days of active service during wartime; 181 days during peacetime |
| Veterans | Same active service minimums as above, discharged under other than dishonorable conditions |
| National Guard / Reserves | 6 years of service, OR 90 days of active duty under Title 10 or Title 32 |
| Surviving Spouses | Spouse of veteran who died in service or from service-connected disability, and who has not remarried |
Full eligibility details at VA.gov. A Certificate of Eligibility (COE) is required to close — Ryan can help you obtain one.
The cost of the benefit
VA funding fee rates.
The funding fee replaces PMI. It's a one-time charge — typically financed into the loan — that helps fund the VA program for future veterans. Veterans with a service-connected disability rating of 10%+ are fully exempt.
| Scenario | Fee Rate |
|---|---|
| First use — 5% down or less | 2.15% |
| First use — 5–9.99% down | 1.50% |
| First use — 10%+ down | 1.25% |
| Subsequent use — 5% down or less | 3.30% |
| Subsequent use — 5–9.99% down | 1.50% |
| Subsequent use — 10%+ down | 1.25% |
| Exempt (disability rating 10%+) | 0% |
Common questions
VA loan FAQs.
Can I use my VA benefit more than once?
Yes. VA entitlement can be restored after you pay off and sell the home, or after a foreclosure in some cases. You can also have two VA loans simultaneously if you have sufficient remaining entitlement — this is common for active-duty members who relocate before selling their current home.
What is the VA funding fee and who pays it?
The VA funding fee is a one-time fee that replaces the private mortgage insurance required on conventional and FHA loans. It's typically financed into the loan. Rates vary by down payment amount and whether it's first or subsequent use. Veterans with a service-connected disability rating of 10% or more are exempt from the funding fee entirely.
Do VA loans have loan limits?
For veterans with full entitlement (first VA loan or entitlement fully restored), there is no loan limit — you can borrow as much as a lender is willing to approve with no down payment. Loan limits only apply if you have remaining (partial) entitlement from an existing VA loan.
Can I use a VA loan to buy a condo or investment property?
VA loans can be used for condos if the project is on the VA-approved condo list. VA loans are for primary residences only — they cannot finance investment properties or vacation homes. However, you can use a VA loan on a 2–4 unit property if you live in one of the units.
You earned this benefit. Use it.
Ryan will pull your Certificate of Eligibility, walk through your VA entitlement, and get you pre-approved — at no cost and no obligation.
Ryan Solberg · MLO NMLS #1784218 · Mortgageinc NMLS #2028516 · Licensed in Florida