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 Rates subject to change without notice

The Standard VA loan limit in Florida for 2024 is $766,550 for most counties | Monroe County VA Loan Limits are higher at $929,200
VA Loan Limits are based on data from the Dept. of Veterans Affairs
Check to See Florida VA loan limits here

Florida VA Loan Requirements

Florida VA Loan Requirements

The first step in obtaining a VA loan is to determine your eligibility for the program. To be eligible for a VA loan, you must meet certain service requirements established by the Department of Veterans Affairs. These requirements vary depending on whether you are an active-duty service member, veteran, National Guard or Reservist, or the surviving spouse of a service member or veteran.

Generally, most veterans, active-duty service members, and eligible surviving spouses are eligible for a VA loan. Service requirements typically include:

  • Having served on active duty for a certain period of time
  • Having been discharged under certain conditions
  • Being a member of the National Guard or Reserves
  • Being the surviving spouse of a service member or veteran who died as a result of service-related injuries or conditions.

Once you determine your eligibility, we will apply for your certificate of eligibility [ COE ]. The COE is a document that verifies your eligibility for a VA loan. You can also apply for a COE online or by mail. 

VA Loan Requirements

Military members – To be eligible for a VA loan, you must be an active-duty or former member of the armed forces with at least:

      • 90 days of consecutive service during wartime, or
      • 181 days of service during peacetime, or
      • 6 years of service in the National Guard or reserves.

VA Funding Fee

The VA funding fee is a one-time fee that is required for all VA loans. The amount of the fee varies depending on the size of the down payment and whether it’s the borrower’s first or subsequent use of a VA loan. For first-time VA loan borrowers, the funding fee ranges from 2.3% to 1.4% of the home’s purchase price, depending on the size of the down payment. If the down payment is less than 5%, the fee is 2.3%, if it’s 5% or more, the fee is 1.65%, and if it’s 10% or more, the fee is 1.4%. The fee can also be waived in certain cases, such as if the borrower is receiving disability compensation from the VA.

The funding fee for a cash-out refinance is actually higher than a purchase loan or a Streamline/ IRRRL. The VA funding fee for cash-out refinance loans is typically 2.30% for first-time use borrowers, and 3.6% for repeat use borrowers, regardless of the size of the down payment or equity in the property. This is because cash-out refinance loans are considered to be higher risk for the lender, and the increased funding fee helps to offset that risk.

When your ready to get started on your VA loan, we are VA Loan experts to guide you through the entire process, the first step is getting you pre-approved. You can apply online or you prefer to speak with one of our VA Mortgage Experts, we would be happy to speak with you. Call or text us at 407-955-4575.

Get Pre-Approved by Florida VA Loan Experts

Florida VA Loan Requirements