If you are: a veteran, active service member, National Guard member, Reserve member, or a surviving spouse of a Veteran, you may qualify for VA loans in Florida, provided you meet the other requirements. And you can apply for it with zero down payments. However, that does not mean you do not need to shell out an amount from your pocket, as there are other fees to pay in the processing.
You can start right with your applications by fulfilling the following minimum requirements:
- For active duty service member, you must have served 90 consecutive days during wartime or 181 days of service during peacetime,
- Retired Veterans’ eligibility depends on whether their service occurred during wartime or peacetime.
- For National Guard members and reservists, you must have completed at least six years in the Reserves or National Guard (or been discharged due to a service-related disability)
- For other eligible personnel like spouses of service members who have died in the line of duty or due to a service-related disability, you may also qualify for VA loans in Florida.
So, do the items above sound complex? No worries; our team here at Homeplus Mortgage can guide you through your application.
In the meantime, here are the basics of VA loans in Florida that you should know about:
- Having a reputable broker/lender is a great help (VA loans in Florida are so much easier to navigate if you have somebody on your side who is an expert on the job).
- You need to get a VA Certificate of Eligibility.
- Be ready to produce your financial information for applications, including your income, assets, and credit information – these will help determine the maximum price of the home you are qualified to purchase.
- The lender contacts the VA and sends out a representative who will do the appraisal – the property will undergo a thorough inspection by the appraiser.
- After the appraisal and if the property passes for underwriting, they will inform you that your loan application meets the VA loan requirements. Your application approval for a VA loan should follow after that.
- You will then attend the loan closing and sign the documents as required. They will explain the loan terms along with the monthly payments.
Online looking for a reputable mortgage company that can guide you through the process of your application for VA loans in Florida? You might want to include Homeplus Mortgage in your list of prospects.