Florida VA Home Loans — $0 Down, No PMI, Ever

No. VA loans offer 100% financing with $0 down payment required for eligible veterans and active duty service members with full entitlement. This is one of the biggest advantages of a VA loan over conventional or FHA financing. On a $400,000 Florida home, that's $0 out of pocket for the down payment — compared to $14,000 for FHA (3.5%) or $80,000 for conventional (20%).

The VA funding fee is a one-time fee paid to the VA to help fund the loan program. For first-time use with $0 down, it's 2.15% of the loan amount. It can be rolled into the loan so you don't pay it out of pocket. The fee is completely waived for veterans with a service-connected disability rating of 10% or higher, and for surviving spouses of veterans who died in service.

Yes. Your VA loan benefit is reusable. You can have more than one VA loan in your lifetime, and in some cases simultaneously. If you've paid off a previous VA loan or sold the home, your full entitlement is restored. Even if you currently have one VA loan, you may have remaining entitlement for a second. Joe can pull your Certificate of Eligibility (COE) and explain exactly where you stand.

The VA itself does not set a minimum credit score — that's set by individual lenders. CrossCountry Mortgage requires a minimum 580 credit score for VA loans, which is more flexible than most banks. Veterans with scores of 620+ typically receive the most competitive rates. If your score is below 580, Joe can walk you through a free credit improvement plan to get you qualified.

VA loans offer several significant advantages: $0 down payment (vs 5–20% conventional), no PMI ever (conventional requires PMI with less than 20% down), more flexible credit requirements (580 vs 620–680), no prepayment penalties, and often lower interest rates. The VA funding fee replaces PMI but is a one-time cost that can be waived for disabled veterans. For most veterans, a VA loan is the clear winner.

Yes, but the condo must be in a VA-approved condo project. Many Florida condo complexes are already approved. If yours isn't, Joe can help navigate the approval process or find VA-approved alternatives in your desired area. The VA maintains a searchable database of approved projects. Single-unit condos, townhomes, and condos in VA-approved projects all qualify.

The VA IRRRL (also called a VA Streamline Refinance) lets you refinance an existing VA loan to a lower interest rate with minimal paperwork. No appraisal or income verification is typically required. The funding fee is just 0.5%, and it can be completed in as little as 15 days. If you currently have a VA loan and rates have dropped, this is one of the easiest refinances available.

Joe typically closes VA loans in 21–30 days. The VA appraisal process can sometimes add a few days compared to conventional loans, but with proper preparation and responsive communication, VA loans close on a very competitive timeline. Joe's team at CrossCountry Mortgage ensures all paperwork — including your COE, appraisal ordering, and underwriting — is processed efficiently from day one.