• VA Loan Guidelines 

    1. No Down Payment On A VA Loan

    • VA Loans do you have an up front funding fee some may be exempt.
    • We will order a certificate of eligibility in order to determine if you are exempt from a funding fee. 
    • We will likely also need your DD214 in order to determine eligibility along with your COE - certificate of eligibility.
    • We will contact the VA and can a response much more quickly than if you called the VA yourself as we have unique access.

    2. No Mortgage Insurance On VA Loans

    • VA loans require neither a down payment or mortgage insurance.  This is a HUGE attraction to go with a VA loan.
    • FHA loans and conventional loans typically do carry mortgage insurance. No mortgage insurance for the life of loan.

    3. VA Home Loans Don't Allow a Prepayment Penalty

    • A VA loan won't restrict your right to sell your home if you decide you no longer want to own it. 
    • You can sell, refinance, or pay off this loan at any time and there will be no penalty against the VA.

    4. It's Easy to Qualify for VA Loans

    • The VA allows for more flexibility with debt to income ratios and approvals. We offer up to 60% debt to income.
    • This debt to income ratio can vary from banks to lenders but as a broker we can typically cap out at 60%.
    • Click this interesting eligibility link to review:  https://www.benefits.va.gov/homeloans/purchaseco_eligibility.asp

    5. VA Loans Closing Costs Are Lower

    • The VA limits the closing costs lenders can charge to VA loan applicants as your Jacksonville mortgage broker.
    • Closing costs are a little bit less but there are mostly your standard closing costs associated with all loans.

    Please consult the use of a Loan Calculator or Mortgage Calculator or call us at 904.513.8000 for help with that and for more information about mortgage rates.  We will discuss interest rates over the phone and can work with a mortgage payment calculator if you don't have one.