WELCOME TO 1st florida mortgage - Florida VA Home Loans
Florida VA New Purchases & Mortgage Refinance | Proudly Serving Our US Military
Florida VA Lender
1st Florida Mortgage is a preferred VA lender in Florida for new home loans and here to help insure that you maximize the government assistance with your next home loan. As 2023, Florida US Vets are eligible to get up to 100% financing on loan values up to $726,200. If you have problems with your credit, or need help finding a realtor, or just have general questions before you begin the buying process, don’t hesitate to ask, we are here to help.
A couple of items that you will need to get started during your application:
- Veteran’s VA certificate of eligibility
- Past 2 years w2 statements, one month of most recent less or pay stubs
- Two (2) months of most recent bank statements
- Copy of DD214 (if the veteran has been discharged/separated from the military).
For VA home loan eligibility you will need satisfactory income and sufficient income and valid certificate of eligibility.
Buying a new home? Let’s us help. We are an approved VA lender in Florida and have dedicated loan officers and underwriters that know and understand VA loans. As a VA approved lender in Florida, we close thousands of VA loans every year. Our mortgage professionals know what they are doing and can close loans fast- just ready our reviews!
- No Down Payment Required to conforming Limits
- No Monthly Mortgage Insurance
- Lower Rates / Easier Credit Qualifying
- Higher Debt to Income Ratios
- Lower Credit Scores / Alt Credit OK
- Jumbo Available with Down Payment
- Seller Paid Closing Costs to 4%
- Funding Fee Can Be Financed
- Streamline Refinance Available
- Manufactured Housing OK (Subject to Restrictions)
Jump in front of the line - Get Pre-Qualified
FLORIDA VA HOME LOANS
- Direct Mortgage Lender- Low Rates & Fees
- Streamline Process, Fast Closings & On Time Funding
- Same Day Pre-Qualifications
- Close in as little as 20 Days
Video – Florida VA Loans
VA Loans Florida (2022)
VA home loans in Florida are fully backed by the government and offer a myriad of advantages for your home purchase or mortgage refinance. Here are the six biggest advantages of VA home mortgages in Florida:
No money down
While conventional loans generally require 20% down payments, no such thing is required with a VA home loan under the local conforming limit. Down payments are still of course and option but they are not a requirement as you can finance up to 100% of your loan. The VA does allow for jumbo loans, but do require you to pay 25% of the difference between the loan amount and the loan limit which as of June, 2022 is $647,200.
No PMI
Conventional loans with less than 20% down require PMI but with a VA loan you do not have to pay mortgage insurance.
Competitive interest rates
VA loans are backed by the federal government and this means they provide lenders safety and flexibility. What this means for you is a lower mortgage rate than you might receive with another type of loan.
Easier to Qualify
Just like with the lower rates, VA loans are backed by the US government which means that lenders (banks) assume much less risk, which translates to less stringent qualification standards.
Fewer credit restrictions
Easier to qualify means fewer restrictions. With a Florida VA Loan, you’re allowed a higher debt-to-income ratio and lower credit scores are OK
Seller assistance
With VA loans the sellers can pay up to 4% of closing costs.
Easy refinance
VA streamline or cash-out financing is available for VA loans. Streamlined refinancing lowers the rate of an already existing loan which makes refinancing simple and painless. This means you can always take advantage of lower rates when interest rates drop. Note that the cash-out option does require a credit check and appraisal.
