VA Loan FAQs in Florida | Florida State Mortgage Group

VA mortgages are among the most affordable loans for home purchase or refinance in Florida. These homes loans are backed by the Department of Veterans Affairs, and are available to qualifying veterans, active duty service members, and eligible surviving spouses. If you are thinking of applying for a VA mortgage, you may have many questions. Here are answers to some frequently asked questions about VA home loans.

Q: What are the benefits of VA mortgages?
- A: VA mortgages allow eligible borrowers to purchase a home with zero down payment and no PMI. That saves you two major expenses. This type of mortgage also features affordable rates and flexible credit qualifications.
Q: What can I use a VA mortgage for?
- A: You can buy a home with a VA mortgage, build one, or refinance.
Q: Are VA loans only for veterans, or can active-duty service members also apply?
- A: VA loans are designed for both veterans and active-duty service members. You will need to meet the service requirements (see below). So, if you are still in the service, you can still apply. Eligible surviving spouses can also use VA mortgage benefits.
Q: What is the service requirement to qualify for a VA mortgage in Florida?
- A: Typically, you must have served a minimum of 90 consecutive days of active service during wartime, or 181 consecutive days during peacetime. But the requirement can vary depending on your era of service. There are also some exceptions for people who served in the National Guard or Reserve. During your consultation, we can review your service record, and help you figure out if you qualify for a VA mortgage.
Q: Can I use a VA mortgage multiple times?
- A: Yes. In fact, you can use your VA mortgage benefits as many times as you want. There is no limit.
Q: Can I still get a VA mortgage if I was foreclosed upon or declared bankruptcy?
- A: Yes, you can still qualify for a VA loan following a bankruptcy or foreclosure. You just need to wait for the mandatory waiting period to elapse before you can successfully apply.
Q: What is the funding fee for a VA home loan?
- A: The funding fee for a VA mortgage can range from 1.25% up to 3.3%. If you are an eligible disabled veteran, the funding fee may be waived. You are not required to make a down payment with a VA mortgage, but doing so may help you to reduce the funding fee.
Q: How do I get my COE during the VA mortgage application process?
- A: When you apply for a VA mortgage, you will need to obtain your Certificate of Eligibility (COE) from the Department of Veterans Affairs. What this document is depends on your scenario. Retired veterans and current or retired members of the National Guard or Reserve need to get their discharge or separation papers (DD214). Active-duty service members need a signed statement of service instead. You can request this through the mail, or online using the Web LGY portal. We can access this portal for you and make the request, saving you the effort. This speeds up the VA mortgage application process.

Buy a Home with a VA Loan in Florida

Florida State Mortgage Group can help you buy a home or refinance in Fort Lauderdale,

Broward County, or anywhere else in Florida. If you are ready to get started, please give us a call today at (954) 359-3000 to schedule your VA mortgage consultation. Let’s get you into your new home.

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Florida State Mortgage Group, Inc - Greater Fort Lauderdale Mortgage Broker

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AUWAL ADAMU H.

15:26 28 Sep 23

I can't thank Steve at Florida State Realty Group enough for helping me purchase my Fort Lauderdale condo. He made the entire process smooth and efficient. Highly recommended!

Nkechi G.

15:13 28 Sep 23

Betty at Florida State Mortgage Group is a true professional. She helped me invest in a great property in Fort Lauderdale. Her expertise and dedication are top-notch. I couldn't be happier.

Art K.

15:30 27 Sep 23

Once our regular bank delayed our loan application, we became exceptionally nervous. We were in jeopardy of not only losing our new home but our deposit. We are eternally grateful that we were referred to Steve McWilliam. We had initially Googled Fort Lauderdale Mortgage Broker and he was the number one mortgage broker but we had already started the process with our local bank which was a horrible experience and mistake. We can highly recommend Steve as he delivered above and beyond what we had expected.

Harry K.

20:07 15 Sep 23

Stephen is an expert in this bussiness.Excellent attention, fast respond to all our questions.

Scott M.

02:17 22 Oct 22

Steve and his team did a fantastic job with my loan and I would highly recommend! They are extremely knowledgeable and professional and will certainly use them again! I have had a few other friends use Steve and they all have positive things to say. 5 stars!

Isabel E.

13:54 08 Oct 22

Stephen and Betty over delivered not only my needs in securing a loan to purchase my dream house but we’re profferesional and courteous every step of the way. I am blessed to have had met them. Thank you GOD

Anand S.

21:58 07 Oct 22

Steve is an excellent person to work with and have excellent knowledge about home loans. He is able to close my both the loans very efficiently. I recommend Steve to whoever wants home loans.

James B.

03:11 20 Nov 21

From my first call to Steve Mc William to the second we closed, it was the best service ever. I felt as if I were their only customer. Everything was top notch and professional.

Stephen B.

15:59 19 Nov 21

J C

21:36 13 Nov 21

Mr McWilliam was extremely thorough and informative. He even provided excellent advice on some other non related mortgage questions I had. He listened carefully to my goals and provided me with the best product for my financial situation. I have never met any one so thorough. Thank you.

Crystal T.

14:04 12 Nov 21

angelo C.

21:26 08 Nov 21

Linda R.

19:27 18 Jan 21

Steve did a great job on our refi. Thanks for making it happen.

12:15 30 Jul 20

Steve and his team at Florida State Mortgage Group, Inc. went above and beyond to help me get my mortgage for our families new home. Steve is very professional, experienced, and the company offers excellent customer service. I highly recommend anyone in the need of a mortgage to contact Florida State Mortgage Group, Inc.

Lana M.

16:22 13 Feb 20

Stephen McWilliam was an amazing person to deal with. Our deal was pretty complicated on all aspects and he was so professional, he got it done !!! Thank you so much for all the hard work you put into this deal!!!

Erica Bethe L.

16:21 22 Jan 20

Working with Steve and Florida State Mortgage Group was singlehandedly the best and most seamless part of buying our home. I could not recommend them more highly.

Charlie C.

14:45 14 Jan 20

Stephen went above and beyond to help me in my situation. Thank You 👍

Brian M.

15:02 13 Jan 20

Steve did a wonderful job securing a mortgage for me based on the parameters I gave and seeing everything through to completion. No hiccups for me along the way in a process that can be very painful if not managed well.

Shannon D.

01:34 12 Jan 20

Steve and the team at Florida State Mortgage Group are exceptional. I was looking for a townhouse for my family when Steve and his team were referred to me. Florida State Mortgage Group showed me I could easily afford a single family home. Steve handled everything from providing a list of homes, securing the home loan, insurance options and closing.I’ve referred Florida State Mortgage Group to friends and family. Each person has experienced the same level of knowledge and quality of service.5 STARS

Florida G.

19:08 11 Jan 20

I was very pleased with Steve and the ease of the process. No hiccups or surprises. Highly recommended for mortgage services.

Michelle V.

17:20 08 Jul 19

I worked with Betty to buy my first house here in South Florida and I could not be happier! She was amazing. She was always available to answer my questions and she was very patient. She was extremely knowledgeable, even getting me approved for a HUGE tax exemption I will receive annually . She always had all the paper work ready on time and explained everything in detail. I could not image a better agent. I'm SO glad we made the decision to work with her. Thanks Betty!

Justin P.

16:01 08 Jul 19

Betty did an amazing job originating our loan. She is knowledgeable, accessible, and eager to provide the best for her clients. I HIGHLY recommend her!

Ganel A.

00:59 26 Feb 19

you guys are doing a great job keep it up.

Mike H.

17:15 20 Feb 19

Natalie R.

20:59 12 Feb 19

We had a great experience with Florida State Mortgage Group. Would recommend them and will use them again in the future.

Sean Z.

18:28 05 Feb 19

Steve McWilliam was a tremendous help in securing my mortgage a few years ago. He’s also been a great source of knowledge in the time since. I highly recommend him as someone you can trust.

Scott Y.

17:42 04 Feb 19

The smartest, most helpful and insightful mortgage loan person I’ve ever used. On our first attempt to buy he saved us from disaster. On our second attempt he was finished and ready to close before everyone else! Our loan was a VA so we expected it to take extra time...nope. For our next loan we won’t use anyone else.

Mike M.

03:25 03 Feb 19

Knowledgeable, Professional and results oriented!!

Hugh B.

19:22 02 Feb 19

If your looking for a highly professional, easy to work with and lightning fast mortgage team, then Florida State Mortgage is for you.I wouldn’t go anywhere else for my mortgage needs.Hugh B.Davie, Florida

Madison C.

00:53 30 May 18

They were a pleasure to work with and they helped us get through the financing of our first home in Florida. Highly recommended!

Peter P.

07:26 22 Feb 18

They helped me get a loan for my first-home purchase. At first I wasn't sure what to expect working with them, but they quickly put those worries to rest! They were very patient with us every step with professionalism.

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