LOAN PROGRAMS · VA
VA loans.Earned by your service.
VA loans are guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, service members and some surviving spouses. They are for homes you will live in, and they do not require monthly mortgage insurance.
By Abdallah H. Fragomeno, Mortgage Advisor, NMLS ID 366447 (opens in a new tab) · PREMIER Financial Group of Florida, LLC, NMLS ID 1318440 · Updated
Have questions? No problem.
VA loans in Miami: the short answer
- Who qualifies
- Eligible veterans, service members, and some surviving spouses. With your permission, we can usually get your Certificate of Eligibility quickly.
- Mortgage insurance
- None. VA loans have no monthly mortgage insurance.
- Loan limit
- Borrowers with full entitlement have no VA loan limit.
- Condos
- The building must be on the VA's approved list.
Who itfits best.
Veterans
With qualifying service.
Active duty and reserves
Including National Guard members who meet service requirements.
Surviving spouses
Some surviving spouses are eligible.
How itworks.
Certificate of Eligibility
Your Certificate of Eligibility confirms your benefit. We can request it for you.
No monthly mortgage insurance
VA loans do not have monthly mortgage insurance.
VA funding fee
Most borrowers pay a one-time funding fee. Some, including many veterans receiving VA disability compensation, are exempt.
Condos
The condo must be VA-approved. We check the building early.
Good to know.Before you decide.
Primary residence
You must plan to live in the home.
Using your benefit again
You can use your VA benefit more than once, and sometimes have more than one VA loan at a time.
Questions,answered.
Can I use my VA benefit more than once?
Yes. Your entitlement can be restored after a VA loan is paid off, and in some cases you can have more than one VA loan.
Do I have to pay the VA funding fee?
Most borrowers do, but some are exempt, including many veterans receiving VA disability compensation. Your Certificate of Eligibility shows your status.
Can I buy a condo with a VA loan?
Yes, if the building is on the VA's approved list. We check before you make an offer.
How do I get my Certificate of Eligibility?
With your permission, we can usually get your Certificate of Eligibility quickly, often during your first conversation with us, through the lender's system. You can also request it from the VA (opens in a new tab) yourself online.
Is there a VA loan limit in Florida?
Not for borrowers with full entitlement. If part of your entitlement is tied up in another VA loan, a limit can apply to the remaining portion.
How do I know if a condo is VA-approved?
Search the building on the VA condo report (opens in a new tab). If it is not listed, the association can apply, which takes time, so check early.
Can the seller pay my closing costs on a VA loan?
Yes. VA allows the seller to pay closing costs and certain concessions, within VA limits.
Do VA loans require an appraisal?
Yes. A VA appraiser confirms the value and that the home meets VA minimum property requirements.
OTHER LOAN PROGRAMS
YOUR MORTGAGE ADVISOR
Nice to meet you.I'm Abdallah.
Your trusted Miami mortgage advisor. I'm here to make your home financing simple and stress-free.
Abdallah H. Fragomeno · Mortgage Advisor · NMLS ID 366447
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Ready, set,pre-approved.
Apply online, then send the documents on my checklist. I'll take it from there.