VA Loan Benefits for Orlando-Area Veterans
What the VA loan benefit actually covers, and how to use it buying a home in Central Florida.
By Ryan Kennedy, NMLS #1434300 · Orlando Mortgage Broker, Icon Mortgage Group
What the VA loan benefit actually covers, and how to use it buying a home in Central Florida.
By Ryan Kennedy, NMLS #1434300 · Orlando Mortgage Broker, Icon Mortgage Group
Central Florida is home to a large veteran and military community, and the VA loan benefit remains one of the strongest available to eligible buyers. Here's what it actually offers.
Most eligible VA borrowers can finance up to 100% of the purchase price with no down payment — one of the only loan programs that still offers this.
Unlike FHA or a low-down-payment conventional loan, VA loans don't carry monthly private mortgage insurance, which meaningfully lowers the monthly payment.
Most borrowers pay a one-time VA funding fee, which can typically be financed into the loan rather than paid out of pocket. Some borrowers, including those receiving VA disability compensation, are exempt.
Your COE confirms your VA loan eligibility and remaining entitlement. If you don't already have one, we can help you request it as part of your pre-approval — it's usually a quick process.
VA entitlement can potentially be reused for a future purchase, including after a previous VA loan is paid off or, in some cases, while a previous VA loan is still active, depending on your remaining entitlement.
VA loans can finance properties with up to 4 units as long as you occupy one unit as your primary residence — a path some veterans use to start building rental income.