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VA Home Loans

Zero down payment VA loans for veterans, active-duty service members, and eligible spouses in Lake Mary and throughout Florida. No PMI required.

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What Are VA Loans?

VA (Veterans Affairs) loans are government-backed mortgages exclusively for eligible veterans, active-duty service members, National Guard members, reservists, and surviving spouses. These loans offer exceptional benefits including zero down payment and no private mortgage insurance (PMI) for qualified borrowers in Lake Mary, FL, and throughout Florida.

VA Loan Benefits for Florida Veterans

Zero Down Payment

100% financing available - no down payment required for qualified veterans.

No PMI

No private mortgage insurance required, saving hundreds per month.

Competitive Rates

Lower interest rates than conventional loans in most cases.

Reusable Benefit

VA loan entitlement can be used multiple times throughout your lifetime.

VA Loan Eligibility in Florida

To be eligible for a VA loan, you must meet one of the following service requirements:

  • Active Duty: Served 90 consecutive days during wartime or 181 days during peacetime
  • National Guard/Reserves: 6 years of service or 90 days active duty
  • Surviving Spouse: Spouse of service member who died in line of duty or from service-connected disability

VA Loan Requirements

  • Certificate of Eligibility (COE): Required to prove VA loan eligibility
  • Credit Score: Typically 620+, though some lenders may accept lower
  • Debt-to-Income Ratio: Generally 41% or less, though exceptions exist
  • Property Requirements: Must be primary residence, meet VA standards

VA Loan Limits in Lake Mary, FL

In 2024, VA loans in Seminole County (Lake Mary) have no maximum loan limit for qualified borrowers with full entitlement. However, if you have remaining entitlement or are using a second VA loan, loan limits apply. Our team can help you understand your specific entitlement.

VA IRRRL (Streamline Refinance)

Veterans with existing VA loans in Lake Mary and throughout Florida can use the VA Interest Rate Reduction Refinance Loan (IRRRL) to lower their interest rate with minimal paperwork and no appraisal in most cases.

Frequently Asked Questions About VA Loans

VA loans are available to veterans, active-duty service members, National Guard members, reservists, and eligible surviving spouses. Service requirements vary: 90 days active duty during wartime, 181 days during peacetime, or 6 years in National Guard/Reserves. See our Florida VA Loan Eligibility Guide for detailed information.

Yes! VA loan entitlement can be reused multiple times throughout your lifetime. If you've paid off a previous VA loan, you regain full entitlement. If you still have a VA loan, you may have remaining entitlement to use for another purchase, though loan limits may apply.

The VA funding fee helps offset the cost of the VA loan program. For first-time use with no down payment, the fee is 2.15% of the loan amount. For subsequent use, it's 3.3%. The fee can be rolled into the loan amount. Veterans with service-connected disabilities are exempt from the funding fee.

No, VA loans are only for primary residences. However, if you currently have a VA loan on your primary residence and are relocating for work, you may be able to use your remaining entitlement to purchase a new primary residence while keeping your current home (which would then become a rental).

For borrowers with full VA entitlement, there are no loan limits in 2024. However, if you have remaining entitlement from a previous VA loan, or if you're using a second VA loan, loan limits apply based on your county. Most Florida counties have a limit of $766,550 for 2024.

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Ready to Use Your VA Loan Benefit?

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