VA Loan Florida

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VA Loan Overview

VA Loan Florida are home loans made available to military veterans, reservists, and active-duty members for the purchase of a primary residence. The Veterans Administration does not lend money for VA loans; instead, it guarantees the top twenty-five percent of the loans made by private lenders, such as Security America Mortgage, to those who qualify. Qualified veterans can use the VA Home Loan Benefit to purchase a home with zero money down, no private mortgage insurance, and have the sellers pay all of their closing costs. These benefits, along with highly competitive interest rates, are making the VA home loan for the preferred loan choice for many veterans.

 

VA Loan History

VA Loan Florida program was enacted by Congress in 1944 as a way to extend benefits to returning veterans as part of the Servicemen’s Readjustment Act. The government set up a system in which private lenders would make home loans to veterans and in return, the government would guarantee the lender against any loss in the event of a default.

In 1992 the VA Loan program was expanded to allow Reserve and National Guard members the ability to obtain a VA home loan provided they had at least six years of honorable service. As of today, more than 18 million veterans have used their VA home loan benefits. In the wake of the 2007 housing crisis, the VA home loan program has seen increased usage as many lenders throughout the country have tightened their lending standards.

 

VA Loan Interest Rates and Cost

Veterans home loans Florida has the same cost associated with closing as all other home loan products. There are two key differences in terms of closing costs with a VA home loan. First, if negotiated into the purchase contract, all closing costs and prepaid items can be paid by the seller, totaling up to four percent of the purchase price. Second, the Department of Veterans Affairs charges a VA Funding Fee on every loan it guarantees. The VA Funding Fee is paid directly to the VA and helps to pay for the VA Home Loan Program for all current and future homebuyers. The VA Funding Fee ranges from 1.25 percent to 3.3 percent but is waived for veterans with service-connected disabilities. The VA Funding Fee can be paid in full at closing or rolled into the loan at closing. Typically, Veterans home loans Florida interest rates are lower when compared to Conventional and FHA loans. VA Loan Calculator can help you determine your payments. If you are looking for a VA Loans In Florida, don’t hesitate to fill out the form above to get started!

Veterans Home Loans Florida Benefits

– No Down Payment For VA Loans Saving enough money for a down payment can be very difficult for active duty service members who are moving from base to base. With no down payment required for a Veterans home loans Florida, many veterans can purchase a home with little to no money out of pocket.

– Lower Interest Rate Because the Department of Veteran Affairs guarantees each loan, interest rates are typically 0.25 to 1 percent lower than those of conventional loans.

– No Mortgage Insurance Since the VA guarantees the lender the top 25 percent of the loan, no mortgage insurance is required. Most conventional loans require a borrower to put down at least 20 percent of the purchase price or pay mortgage insurance. Mortgage insurance can be costly and does not ever go towards reducing your principal balance.

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Florida County Limits

va loan florida

Florida County Limits

FIPS State Code FIPS County Code County Name State CBSA Number One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit
12 001 ALACHUA FL 23540 $453,100 $580,150 $701,250 $871,450
12 003 BAKER FL 27260 $453,100 $580,150 $701,250 $871,450
12 005 BAY FL 37460 $453,100 $580,150 $701,250 $871,450
12 007 BRADFORD FL $453,100 $580,150 $701,250 $871,450
12 009 BREVARD FL 37340 $453,100 $580,150 $701,250 $871,450
12 011 BROWARD FL 33100 $453,100 $580,150 $701,250 $871,450
12 013 CALHOUN FL $453,100 $580,150 $701,250 $871,450
12 015 CHARLOTTE FL 39460 $453,100 $580,150 $701,250 $871,450
12 017 CITRUS FL 26140 $453,100 $580,150 $701,250 $871,450
12 019 CLAY FL 27260 $453,100 $580,150 $701,250 $871,450
12 021 COLLIER FL 34940 $453,100 $580,150 $701,250 $871,450
12 023 COLUMBIA FL 29380 $453,100 $580,150 $701,250 $871,450
12 027 DE SOTO FL 11580 $453,100 $580,150 $701,250 $871,450
12 029 DIXIE FL $453,100 $580,150 $701,250 $871,450
12 031 DUVAL FL 27260 $453,100 $580,150 $701,250 $871,450
12 033 ESCAMBIA FL 37860 $453,100 $580,150 $701,250 $871,450
12 035 FLAGLER FL 19660 $453,100 $580,150 $701,250 $871,450
12 037 FRANKLIN FL $453,100 $580,150 $701,250 $871,450
12 039 GADSDEN FL 45220 $453,100 $580,150 $701,250 $871,450
12 041 GILCHRIST FL 23540 $453,100 $580,150 $701,250 $871,450
12 043 GLADES FL $453,100 $580,150 $701,250 $871,450
12 045 GULF FL 37460 $453,100 $580,150 $701,250 $871,450
12 047 HAMILTON FL $453,100 $580,150 $701,250 $871,450
12 049 HARDEE FL 48100 $453,100 $580,150 $701,250 $871,450
12 051 HENDRY FL 17500 $453,100 $580,150 $701,250 $871,450
12 053 HERNANDO FL 45300 $453,100 $580,150 $701,250 $871,450
12 055 HIGHLANDS FL 42700 $453,100 $580,150 $701,250 $871,450
12 057 HILLSBOROUGH FL 45300 $453,100 $580,150 $701,250 $871,450
12 059 HOLMES FL $453,100 $580,150 $701,250 $871,450
12 061 INDIAN RIVER FL 42680 $453,100 $580,150 $701,250 $871,450
12 063 JACKSON FL $453,100 $580,150 $701,250 $871,450
12 065 JEFFERSON FL 45220 $453,100 $580,150 $701,250 $871,450
12 067 LAFAYETTE FL $453,100 $580,150 $701,250 $871,450
12 069 LAKE FL 36740 $453,100 $580,150 $701,250 $871,450
12 071 LEE FL 15980 $453,100 $580,150 $701,250 $871,450
12 073 LEON FL 45220 $453,100 $580,150 $701,250 $871,450
12 075 LEVY FL $453,100 $580,150 $701,250 $871,450
12 077 LIBERTY FL $453,100 $580,150 $701,250 $871,450
12 079 MADISON FL $453,100 $580,150 $701,250 $871,450
12 081 MANATEE FL 35840 $453,100 $580,150 $701,250 $871,450
12 083 MARION FL 36100 $453,100 $580,150 $701,250 $871,450
12 085 MARTIN FL 38940 $453,100 $580,150 $701,250 $871,450
12 086 MIAMI-DADE FL 33100 $453,100 $580,150 $701,250 $871,450
12 087 MONROE FL 28580 $529,000 $677,200 $818,600 $1,017,300
12 089 NASSAU FL 27260 $453,100 $580,150 $701,250 $871,450
12 091 OKALOOSA FL 18880 $453,100 $580,150 $701,250 $871,450
12 093 OKEECHOBEE FL 36380 $453,100 $580,150 $701,250 $871,450
12 095 ORANGE FL 36740 $453,100 $580,150 $701,250 $871,450
12 097 OSCEOLA FL 36740 $453,100 $580,150 $701,250 $871,450
12 099 PALM BEACH FL 33100 $453,100 $580,150 $701,250 $871,450
12 101 PASCO FL 45300 $453,100 $580,150 $701,250 $871,450
12 103 PINELLAS FL 45300 $453,100 $580,150 $701,250 $871,450
12 105 POLK FL 29460 $453,100 $580,150 $701,250 $871,450
12 107 PUTNAM FL 37260 $453,100 $580,150 $701,250 $871,450
12 109 ST. JOHNS FL 27260 $453,100 $580,150 $701,250 $871,450
12 111 ST. LUCIE FL 38940 $453,100 $580,150 $701,250 $871,450
12 113 SANTA ROSA FL 37860 $453,100 $580,150 $701,250 $871,450
12 115 SARASOTA FL 35840 $453,100 $580,150 $701,250 $871,450
12 117 SEMINOLE FL 36740 $453,100 $580,150 $701,250 $871,450
12 119 SUMTER FL 45540 $453,100 $580,150 $701,250 $871,450
12 121 SUWANNEE FL $453,100 $580,150 $701,250 $871,450
12 123 TAYLOR FL $453,100 $580,150 $701,250 $871,450
12 125 UNION FL $453,100 $580,150 $701,250 $871,450
12 127 VOLUSIA FL 19660 $453,100 $580,150 $701,250 $871,450
12 129 WAKULLA FL 45220 $453,100 $580,150 $701,250 $871,450
12 131 WALTON FL 18880 $453,100 $580,150 $701,250 $871,450