Veterans searching for their new Florida home and VA home loan; will eventually need to provide their Certificate of Eligibility. This very important VA document is evidence that the Veteran is eligible to use the VA guaranteed home loan benefit. If you can’t locate yours, don’t worry. Here are a couple of ways to obtain your VA Certificate of Eligibility.

Traditionally, you would complete the VA Form 26-1880 and submit it to the VA Eligibility Center located in Winston-Salem, North Carolina. This can be done by the Veteran or with the assistance of your VA Florida Mortgage Professional.

Another method is available through your VA Florida Mortgage Professional. We use the ACE (Automated Certificate of Eligibility) system. This allows us to obtain your Certificate of Eligibility within seconds of request; reducing the traditional method. Keep in mind, although most certificates are retrieved through this Internet based method; some are not. This is usually due to insufficient data available to VA.

If you have questions regarding your VA Certificate of Eligibility or other related VA home loan questions; call our office at 888.399.0520. 

First time home buyers purchasing their dream homes in Florida should know their home financing options. Many Florida first time home buyers are seeking low to no down payment mortgages.  Here are a few mortgage programs to consider.

My favorite of course is the 100% guaranteed VA Home Loan.  A qualified Veteran can borrow as much as $417,000 with no down payment requirement. There is no prepayment penalty and no private mortgage insurance.  Fixed interest rates for these 100% Florida VA home loans are very low.  And the sellers can contribute up to 4% towards the Veterans closing costs, and/or prepaids. 

Next, of course, is the ever popular FHA mortgage. With an Florida FHA home loan, a new home buyer can put down as little as 3%.  The best part is this 3% down payment requirement can be provided as a “Gift” from a relative or even from an approved non-profit organization such as Nehemiah or Ameridream.

Although Fannie Mae’s FLEX 100% programs are no longer available in Florida; you might consider their FLEX 97% Program.  This mortgage program allows you to borrow up to 97% of your new Florida home purchase price.  The seller can contribute up to 3% towards your closing costs and prepaids; and the down payment can be from flexible sources such as “gift” from relatives, or a non-profit organization.

For more information on these or other Florida first time home buyer programs with little or no down payments; please call our Mortgage Professionals at 888.399.0520 or email.