Buy a Home With $0 Down Using Your VA Benefit

You earned one of the most powerful home loan benefits available. We help you use it correctly.

For eligible Veterans and active-duty service members, a VA loan can provide 100% financing with no down payment and no monthly private mortgage insurance (PMI).

That means you may be able to purchase a home without spending years saving for the 3%, 5%, 10% or 20% down payment required by many other loan programs.

Your VA benefit can get you into the home. Smart loan structuring can help you keep more of your money in the bank.

Zero Down Doesn’t Always Mean Zero Out of Pocket

This is where good VA loan advice matters.

A VA loan does not require a down payment, but a home purchase can still include closing costs, prepaid property taxes, homeowners insurance and other expenses.

Depending on the transaction, seller concessions and seller-paid closing costs may be used to substantially reduce the amount you need at closing.

That’s why we like to get involved before you make the offer.

We can work directly with you and your Realtor to help structure the offer correctly from the beginning—so everyone understands the VA financing, estimated closing costs, and available options before the contract is signed.

Already working with a Realtor?

Have them call us before you make the offer.
727-777-4999

Why Veterans Choose VA Financing

No Down Payment Required
Qualified Veterans can finance up to 100% of the home’s eligible purchase price without making a traditional down payment. On a $400,000 home, a conventional buyer putting 5% down would need $20,000 just for the down payment—before closing costs. A qualified VA buyer may be able to finance the entire purchase price.

No Monthly PMI
Most low-down-payment conventional loans require private mortgage insurance.
VA loans do not require monthly PMI, which can mean a significantly lower monthly housing expense.

Flexible VA Underwriting
VA underwriting looks at more than a credit score.
Income, debts, residual income, credit history and the overall strength of the borrower are considered when determining qualification. That’s one reason experienced VA loan structuring can matter so much.

Seller-Paid Costs and Concessions
VA guidelines provide flexibility for certain seller-paid costs and concessions.
Used correctly, these provisions can help a Veteran preserve cash rather than draining savings simply to get through closing.

VA Loans Aren’t Something We Also Do.
They’re All We Do.
Florida’s VA Mortgage Center specializes exclusively in VA home loans.
We don’t divide our attention between conventional, FHA, USDA and dozens of other mortgage products.

We chose VA lending as our specialty.
That means when you call us with a question about VA entitlement, disability income, PCS orders, military separation, seller concessions, residual income, credit challenges or an unusual VA scenario, you’re talking to people who work with these situations every day.
Veterans earned this benefit. They deserve a lender who knows how to use it.

Your VA Benefit Was Earned. Let’s Make Sure You Get the Most From It.
Whether you’re buying your first home or using your VA benefit again, we’ll help you understand your options, structure the financing correctly and know what to expect before you make an offer.

Call Florida’s VA Mortgage Center: 727-777-4999

Or apply online to get started.

• No Down Payment Necessary.

  Homebuyers will usually need at least a 5 percent down payment for conventional loans or a 3.5 percent down payment for FHA financing. On a $200,000 loan, that's $10,000 for conventional borrowers and $7,000 for FHA. For many first-time homebuyers, coming up with that kind of cash up can be challenging. Being able to purchase with $0 down means VA borrowers don't have to spend years saving to scrape together a big down payment.

• Less Stringent Qualifications.

  Many first-time homebuyers might not yet have a strong credit history, which can make it more difficult to get approval for a mortgage or qualify for an affordable interest rate. Since the VA Loan is government-backed, VA Loans are easier to qualify for at competitive rates.

• Lower Monthly Payments.

  Since VA Loans don't require the added monthly expense of private mortgage insurance (PMI), they tend to leave more money in your pocket each month. In addition, the competitive VA Loan rates can save a typical buyer thousands over the lifespan of the loan.

Have questions? Speak with a trusted VA-lending specialist

In addition to the VA Loan, Florida’s VA Mortgage Center is proud to offer several other financing options for homebuyers; including USDA loans, FHA loans, and traditional mortgages.

Just ask if one of these options is better for you!

VA jumbo loans offer veterans and military buyers significant benefits, especially compared to the conventional jumbo landscape. With a VA jumbo loan, homebuyers have increased access to homes in high-cost metro areas, while utilizing their VA loan benefits – including the flagship $0 down.

What is a VA Jumbo Loan?

Typically, a VA loan is considered a VA jumbo loan when the loan amount exceeds the county-specific VA loan limit. The VA loan limit for most counties in 2023 is $726,200 but reaches $1,089,300 in high-cost areas.

It’s important to remember that VA loan limits don't represent a cap on your purchasing power. There is no maximum VA loan amount set by the government.

Instead, the loan limits help determine how much veterans without their full VA loan entitlement can borrow before needing to put money down. Veterans with full entitlement can borrow as much as a lender is willing to lend without the need for a down payment.

VA Jumbo Loan Requirements

A VA jumbo loan, also known as a VA high-balance loan, allows eligible veterans and service members to borrow more than the standard VA loan limit, which varies by location. However, VA jumbo loans come with specific requirements and guidelines. Here are some key requirements for VA jumbo loans:

1. Eligibility: To qualify for a VA jumbo loan, you must meet the basic eligibility requirements for VA loans, including having sufficient entitlement and meeting the service requirements. Additionally, you must meet the credit and income requirements set by the lender.

2. Loan Limits: VA jumbo loans are designed for loan amounts that exceed the standard VA loan limits. The exact loan limits for VA jumbo loans can vary by county and may change annually.

3. Down Payment: While VA loans typically do not require a down payment, VA jumbo loans may require a down payment. The specific down payment amount depends on the lender's policies and the loan amount. Some lenders may require a down payment of 25% of the amount exceeding the VA loan limit.

4. Credit Score: Lenders may have stricter credit score requirements for VA jumbo loans compared to standard VA loans. A good credit score is essential to qualify for a VA jumbo loan, and the minimum credit score required may vary among lenders.

5. Income and Debt-to-Income (DTI) Ratio: Lenders will assess your income and DTI ratio to ensure that you can comfortably afford the larger loan amount. The DTI ratio is typically limited to 41% or lower, but some lenders may allow higher ratios with strong compensating factors.

6. Residual Income: Lenders often consider residual income, which is the income left after paying all monthly debts and expenses. Meeting the residual income requirements is crucial to qualify for a VA jumbo loan.

7. Appraisal: VA jumbo loans require a VA appraisal to determine the property's value. The appraisal is conducted to ensure that the loan amount does not exceed the property's value.

8. Funding Fee: VA jumbo loans may have a higher VA funding fee compared to standard VA loans. The funding fee is a one-time fee paid to the VA and can vary based on factors like military category and down payment.

9. Lender Requirements: Each lender may have its own specific requirements and guidelines for VA jumbo loans. It's essential to work with a lender experienced in VA jumbo loans to understand their specific criteria and policies.

10. Documentation: You'll need to provide the necessary documentation, including income verification, tax returns, bank statements, and other financial records, to support your loan application.