Loan Programs

VA Loans

VA loans are one of the most powerful mortgage benefits available to American veterans, active-duty service members, and eligible surviving spouses. They offer zero down payment, no private mortgage insurance, and competitive interest rates.

In the Florida Keys, VA loans are an excellent option for eligible borrowers purchasing a primary residence. The zero-down feature is particularly valuable where property values are high.

Details

Zero Down Payment

For a $600,000 Keys home, the zero-down benefit saves you $120,000 or more in upfront cash compared to a conventional 20% down payment.

No Private Mortgage Insurance

VA loans do not require PMI, saving you hundreds per month compared to conventional and FHA loans.

Competitive Interest Rates

VA loans typically offer some of the lowest rates available, often 0.25-0.50% lower than comparable conventional loans.

VA Funding Fee

Most VA borrowers pay a one-time funding fee from 1.25% to 3.3%. Veterans with service-connected disabilities may be exempt.

Keys Considerations

VA loans cover single-family homes, VA-approved condos, and multi-unit properties (up to 4 units) as primary residences. The VA loan limit in Monroe County is $832,750 for a one-unit property in most areas for 2026 for borrowers with full entitlement. Loan limits vary based on the number of units and whether the property is located in a designated high-cost area.

FAQ

Can I buy a condo in the Keys with a VA loan?

Yes, but the condo project must be VA-approved. Check with me before making an offer.

What is the VA funding fee?

For first-time use with no down payment, it is 2.15%. With 5% down it drops to 1.50%. Veterans with service-connected disabilities may be exempt.

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