Your Complete FAQ Guide to VA Loans in Florida

VA loans are one of the most powerful mortgage options available to America’s veterans, active-duty service members, and eligible surviving spouses. In Florida—a state with a large and proud military population—VA loans offer a direct path to affordable homeownership. But while the benefit is substantial, the rules, eligibility requirements, and loan structure can feel complex if you’re navigating the process for the first time.

At Mortgage Pipeline, we specialize in helping Florida’s veterans understand the true value of their VA loan benefits and walk them through the process with clarity. Below is a comprehensive FAQ to address the most important (and most overlooked) aspects of using a VA loan in the Sunshine State.

What exactly is a VA loan, and who backs it?

A VA loan is a mortgage loan offered by private lenders—but backed by the U.S. Department of Veterans Affairs (VA). That means the VA does not lend the money directly (with rare exceptions), but instead guarantees a portion of the loan. This reduces risk for lenders and allows them to offer better terms to qualified veterans and service members.

Who qualifies for a VA loan in Florida?

Eligibility for a VA loan is based on military service history, and the VA has specific criteria:

• Active-duty military with 90 days of continuous service

• Veterans with 181 days of active-duty service during peacetime

• National Guard and Reserve members with 6 years of service

• Surviving spouses of service members who died in the line of duty or as a result of a service-connected disability

You'll need a Certificate of Eligibility (COE) from the VA to move forward, which Mortgage Pipeline can help you obtain quickly.

Do VA loans in Florida require a down payment?

In most cases, no down payment is required. This is one of the most appealing aspects of the VA loan program—eligible borrowers can finance 100% of the home’s value, even in competitive housing markets like Tampa, Jacksonville, or Miami.

However, if the purchase price exceeds the appraised value, or if you have remaining entitlement from another VA loan, a small down payment may be needed. Florida’s high-cost coastal markets can occasionally trigger this.

Is private mortgage insurance (PMI) required on a VA loan?

No—PMI is never required on a VA loan. This represents a significant monthly savings compared to conventional loans where borrowers with less than 20% down typically pay PMI. This VA advantage helps keep monthly payments lower and makes qualifying easier for Florida buyers.

Are there loan limits in Florida for VA loans?

As of 2020, the VA removed county-level loan limits for borrowers with full entitlement. This means eligible buyers in Florida can borrow as much as the lender is willing to approve, based on credit, income, and other underwriting criteria.

However, if you've used a portion of your entitlement on another VA loan that hasn’t been paid off or restored, limits may still apply. In Florida, counties like Monroe or Collier (with higher property values) were previously subject to VA loan limits—but these now apply only under specific conditions.

What is the VA funding fee in Florida, and can it be waived?

The VA funding fee is a one-time charge that helps sustain the program. It ranges from 1.25% to 3.3% of the loan amount, depending on the size of your down payment and whether you’ve used a VA loan before.

In Florida, as with the rest of the U.S., this fee can be rolled into the loan amount, so you don’t have to pay it upfront.

Importantly, many veterans are exempt from the funding fee—such as those receiving VA disability compensation. At Mortgage Pipeline, we help verify exemption status early to ensure you're not overcharged.

What types of properties can I purchase with a VA loan in Florida?

You can use a VA loan to purchase:

• Single-family homes

• Condos (in VA-approved communities)

• Multi-unit properties (up to 4 units) if you occupy one unit as your primary residence

• Manufactured homes (if they meet strict guidelines and are permanently affixed)

• New construction (though fewer lenders offer this directly)

Florida has a wide range of property types—from beachside homes to inland townhomes—and VA loans can be used across these markets, provided the property meets VA minimum property requirements (MPRs).

Can I use a VA loan more than once in Florida?

Yes, VA loans are reusable. If you’ve paid off your previous VA loan or sold the property, your entitlement can be restored. You can also have more than one active VA loan at a time, depending on your remaining entitlement and lender guidelines.

This is particularly useful for military families stationed at one Florida base but preparing for a PCS to another.

What credit score is needed to qualify for a VA loan in Florida?

While the VA doesn’t set a minimum score, most lenders prefer a credit score of 620 or higher. At Mortgage Pipeline, we work with borrowers across a wide credit range and help improve approval odds even for those on the edge of eligibility.

If you're recovering from past financial challenges, you may still qualify with compensating factors like strong income or cash reserves.

Can I refinance a current mortgage with a VA loan in Florida?

Yes. The VA offers two powerful refinance options:

1. VA IRRRL (Interest Rate Reduction Refinance Loan) – for current VA borrowers looking to lower their rate or monthly payment.

2. VA Cash-Out Refinance – for veterans looking to tap into home equity for renovations, debt consolidation, or other expenses.

Both are available to Florida homeowners and can significantly improve financial flexibility.

Why choose Mortgage Pipeline for your VA loan in Florida?

At Mortgage Pipeline, we specialize in guiding Florida’s military community through the VA loan process with transparency, respect, and expert support. Whether you’re buying your first home in Pensacola or refinancing your property in Fort Lauderdale, our team understands the intricacies of VA lending and Florida’s dynamic housing market.

We’ll help you:

• Understand your entitlement and eligibility

• Secure your COE

• Compare rates and lenders

• Close quickly and confidently

Ready to explore your VA loan options in Florida?

Homeownership is closer than you think—and your service has earned you one of the best mortgage programs available. Contact Mortgage Pipeline today to get started with a trusted team that’s committed to helping you make the most of your VA benefits.