Florida VA Mortgage Loans

Florida VA Mortgage Loans

Across Florida, VA mortgage loans are a popular choice for many veterans. A VA loan means that veterans living in Florida can buy a home with 100% financing and yet they are not required to pay monthly mortgage insurance. Another reason that VA loans are popular with veterans in Florida is because when it comes time to refinance, the VA streamline refinance program makes it easy. The VA IRRRL streamline refinance program is one of the easiest refinance programs available.

Most people who have a VA loan are aware that they don’t make their monthly mortgage payments to the VA, the VA is only an insurer of your loan in the event of default and not the actual lender. Should there be a default on a VA loan, the VA steps in and protects the lender against the loss. Because the VA insures against default, many lenders are eager to loan money under the VA loan programs.

Florida VA Loan Highlights

• With VA loans, all closing costs can be rolled into the loan
• No MI (Mortgage Insurance) on VA loans
• Possible to get 100% financing with VA loans
• There is no prepay penalty on a VA loan
• A funding fee is charged on all VA loans – except for veterans who have at least 20% disablilty

Florida VA Loan Certificate of Eligibility

In order to qualify for a VA loan, the first step is to prove that you are eligible under the VA guidelines. In order to demonstrate that you are eligible for the VA loan program, you will need to provide a copy of your Certificate of Eligibility that you got (or can get) from the VA. If you need help getting your Certificate of Eligibility, your loan officer should be able to help you.

For people who are already in a VA loan program, the Florida VA streamline refinance can help you reduce your mortgage payment by taking advantage of lower rates when they are available. When you participate in the VA streamline refinance program, you can lower your payment without having to pay out of pocket expenses. The VA IRRRL streamline refinance is really the easiest refinance program available – no matter what kind of refinance you compare it to.

Florida VA Mortgage Loan Experts: Contact Us

To find out if the VA loan program is right for you, be sure to contact one of our Florida VA loan experts. We are happy to work with you to find answers to any questions that you may have.