Important information for Disabled Veterans!

If you have a VA Disability rating, there are some things that you should know as it gives you some unique advantages when buying a home. Please see below and if you have any questions please call for clarification, we’re happy to help.

Your Disability Rating means you are automatically exempt from the VA Funding Fee

If you have a VA Disability Rating of 10% or more, you are automatically exempt from the VA Funding Fee. This is a substantial fee, that currently ranges from 2.15% to 3.6%, so you get a significant savings on your VA loan.

Your VA disability income is increased by 25% for qualifying purposes.

Because your VA disability compensation is tax-free, we are allowed to increase it by 25%. If you are receiving $4000 for example, we can use 25% more, or $5000 for qualifying purposes. This means you can qualify for a larger loan amount and buy a nicer home.

Your VA disability compensation is already visible on your Certificate of Eligibility

When we pull your Certificate of Eligibility (COE) from the VA portal, we can view your VA disability compensation amount, as it’s right on the certificate. This means that most time, you don’t have to provide any further proof of your VA disability compensation, because it’s already on a government document.

If you are qualifying based on only your VA compensation, we can proceed with no other proof of income whatsoever, making your VA loan application incredibly easy to process.

Your 100% disability rating means you are property tax exempt

If you have a 100% VA disability rating, you are exempt from property taxes in Florida.

Because we understand that you will not be paying property taxes, we are allowed to disregard the property taxes when qualifying you for your VA loan. This means you can buy a more expensive, nicer home, because there’s no taxes required in your debt ratio.

We also do not require an escrow account for your property taxes, as we know you will not be paying taxes in the future.

This saves you thousands at closing, and allows you to qualify for the best home possible, because we understand the VA program and maximize your VA benefits.

Your proposed VA disability rating can be enough to buy a home

If you have a proposed VA Disability Rating, that can be enough to get started today on your VA loan application.

We have closed VA loans with nothing but the proposed rating, so don’t delay and wait to apply.

We work directly with the VA, and many times we can get your Certificate of Eligibility updated with your proposed disability rating. This means you can close on your new home today, and not wait months for the VA to update your records.