VA Home Loans in Florida: 0% Down, No Monthly PMI for Veterans

VA loans in Florida: 0% down, no monthly PMI for veterans & active duty. 2026 funding fees explained by Jacksonville Mortgage Broker Douglas Wilkerson.

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What Is a VA Home Loan?

A VA home loan is a mortgage backed by the U.S. Department of Veterans Affairs. The VA doesn't lend the money itself — it guarantees a portion of the loan your lender makes. That federal guarantee is what lets lenders offer terms no other program can touch: no down payment, no monthly mortgage insurance, and competitive rates for eligible Veterans, active-duty servicemembers, and certain surviving spouses.

In plain English: if you served, you earned a home loan benefit that lets you buy in Jacksonville, Jacksonville Beach, or anywhere in Florida with $0 down and no PMI added to your payment every month. It is the single most powerful homebuying benefit available to those who served — and most eligible buyers don't use it nearly as aggressively as they could.

Douglas Wilkerson is a Marine Corps veteran and Mortgage Broker. He doesn't just process VA loans — he's used the benefit himself and structures VA purchases for a living.

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Who Is Eligible for a VA Loan?

VA eligibility generally covers:

• Veterans with qualifying service (length requirements depend on when and how you served)
• Active-duty servicemembers currently serving
• National Guard and Reserve members (generally after 6 years of service, or 90 days of active service)
• Certain surviving spouses of servicemembers who died in service or from a service-connected cause

You'll need a Certificate of Eligibility (COE) — Douglas can usually pull it in minutes through the VA's automated system once you apply. If you're unsure whether you qualify, don't guess: apply and find out. The COE answers the question definitively.

Already have the 60-second picture? Take the VA home loan quiz

Key Benefits of a VA Loan

• 0% down payment — no down payment required on purchases within your entitlement.
• No monthly PMI or mortgage insurance — ever. This alone can save hundreds per month versus FHA or low-down conventional.
• No prepayment penalty.
• The VA limits what lenders can charge you — including a 1% cap on the lender origination fee, and certain fees buyers simply aren't allowed to pay.
• Sellers can cover your costs — sellers may pay all of your loan-related closing costs plus up to 4% in concessions.
• No loan limit with full entitlement — since 2020, veterans with full entitlement face no VA cap on the loan amount. The only ceiling is what a lender approves.
• Reusable benefit — use it again and again; entitlement can be restored.
• Assumable — a future buyer may be able to assume your VA loan, a serious selling advantage.

The VA Funding Fee (2026)

The VA charges a one-time funding fee that keeps the program running for future veterans. It's not lender profit — it goes to the VA. Most borrowers roll it into the loan amount rather than paying cash at closing.

Purchase & construction loans — 2026 rates:

Down payment	First use	After first use
Less than 5%	2.15%	3.30%
5% to <10%	1.50%	1.50%
10% or more	1.25%	1.25%

Other loan types: IRRRL (streamline refinance) 0.5% · Cash-out refinance 2.15% first use / 3.30% subsequent use — the refinance rates don't change with down payment.

Who pays $0: Veterans receiving VA compensation for a service-connected disability, active-duty Purple Heart recipients, certain surviving spouses receiving DIC, and qualifying pre-discharge claimants are exempt from the funding fee entirely.

Example: a $400,000 first-use purchase with $0 down carries a 2.15% fee — $8,600 — which can be financed, making the total loan $408,600. With a 10%+ disability rating and an exemption, that fee is $0.

Calculate Your VA Payment Check Your BAH Numbers

VA Entitlement & Loan Limits (2026)

Full entitlement = no VA loan limit. If you've never used the benefit, or you paid off a prior VA loan and had entitlement restored, the VA will guarantee 25% of whatever loan a lender approves — with $0 down required regardless of price.

Partial (remaining) entitlement = county limit applies. If you have an active VA loan, or entitlement tied up in a property you still own, the 2026 baseline guaranty limit is $832,750 (the FHFA conforming limit; higher in high-cost counties). You can still buy above your remaining entitlement — you generally cover 25% of the difference as a down payment.

This matters most for PCS moves and repeat buyers in the Jacksonville market — including the large military community around NAS Jacksonville and NS Mayport. Don't assume a prior VA loan blocks the next purchase. Run the entitlement math first.

VA Eligibility Requirements

• Eligible service + valid COE (see above).
• Primary residence only — you must intend to occupy the home as your primary residence.
• Income & credit — the VA sets no minimum credit score and no published DTI cap, but lenders must verify stable income and acceptable credit history. Residual income (money left after all obligations) is a VA-specific check many buyers don't expect.
• Property standards — the home needs a VA appraisal with a Notice of Value and must meet the VA's Minimum Property Requirements (safe, sound, sanitary). Condos generally need VA project approval. Multi-unit (up to 4 units) is allowed if you live in one unit.
• Funding fee or exemption — paid at closing or financed, unless exempt.

How It Works With Douglas — Step by Step

1. Confirm your position. Take the 60-second VA quiz or call (904) 517-4049. Douglas pulls your COE, reviews your entitlement (full vs. remaining), and maps your buying power — including BAH if you're active duty.
2. Get pre-approved. A real VA pre-approval with your price range, expected payment (no PMI in it), and cash needed. Sellers near military installations know what a strong VA pre-approval looks like.
3. Shop and offer. Douglas helps structure offers that win — including how to use the VA's seller-concession rules instead of fearing them.
4. VA appraisal & underwriting. The VA-assigned appraisal confirms value and condition; underwriting clears the file. Douglas runs point on every condition.
5. Close with $0 down. Sign, fund, get keys. Most VA purchases close in 30–45 days.

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Comparing Your Options

VA beats nearly everything for eligible buyers — but it helps to see the alternatives:

FHA Loans — 3.5% Down USDA Loans — 0% Down Rural & Suburban

Not VA-eligible and buying in an eligible area outside the city? USDA offers 0% down with low monthly fees. Rebuilding credit or short on entitlement? FHA's 3.5%-down program is the fallback that still gets you in the game. Douglas runs every scenario side by side — you choose with numbers, not guesses.

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VA Home Loan FAQ — Florida Veterans

Who is eligible for a VA home loan?

Veterans with qualifying service, active-duty servicemembers, many National Guard and Reserve members, and certain surviving spouses. The definitive answer comes from your Certificate of Eligibility (COE), which Douglas can typically obtain in minutes once you apply.

Do I need a down payment with a VA loan?

No. VA requires $0 down for purchases within your entitlement — full or partial. You can still choose to put money down to reduce the funding fee or lower the payment.

Is there PMI or mortgage insurance on a VA loan?

No. VA loans have no monthly mortgage insurance or PMI — one of the program's biggest payment advantages over FHA and low-down conventional loans.

What is the VA funding fee in 2026?

For purchase loans: 2.15% of the loan amount on first use with less than 5% down (1.5% with 5%+ down, 1.25% with 10%+ down). After first use with less than 5% down, it's 3.3%. The fee can be financed into the loan. IRRRL streamline refinances are 0.5%.

Who is exempt from the VA funding fee?

Veterans receiving VA disability compensation, active-duty Purple Heart recipients, surviving spouses receiving Dependency and Indemnity Compensation (DIC), and servicemembers with qualifying pre-discharge disability ratings. If you're exempt, the fee is $0 — nothing financed, nothing paid.

Can the VA funding fee be rolled into the loan?

Yes. The funding fee is the one closing cost the VA allows you to finance directly into the loan balance. You'll pay interest on it over the life of the loan, so exempt borrowers save twice.

Is there a VA loan limit in 2026?

Not with full entitlement — since January 1, 2020, there is no VA cap; the VA guarantees 25% of whatever a lender approves. With partial (remaining) entitlement, the county conforming limit applies — $832,750 baseline in 2026 for Northeast Florida counties.

Can I use my VA loan more than once?

Yes. VA entitlement is reusable. Pay off a prior VA loan and sell (or otherwise free the entitlement) and it can be restored for the next purchase. Many veterans use the benefit 3, 4, 5+ times in a lifetime.

Can I have two VA loans at the same time?

Possibly. With sufficient remaining entitlement, you can keep an existing VA-financed home and buy another primary residence with VA financing. This comes up constantly with PCS moves around NAS Jacksonville and NS Mayport — don't assume you must sell first.

What can the seller pay on a VA purchase?

Sellers can pay all of your loan-related closing costs plus up to 4% of the price in concessions (things like prepaid taxes and insurance, or paying down your rate). Combined with $0 down, some VA buyers come to closing with very little cash out of pocket.

What is the VA appraisal and Notice of Value?

Every VA purchase requires a VA-assigned appraisal that does two jobs: confirm the market value and confirm the property meets the VA's Minimum Property Requirements (safe, sound, sanitary). The resulting Notice of Value sets the maximum the VA will guarantee. If the appraisal comes in low, Douglas renegotiates or restructures — it happens, and it's solvable.

VA vs. FHA — which is better for a veteran?

Almost always VA: $0 down instead of 3.5%, no monthly mortgage insurance instead of permanent MIP, and capped lender fees. FHA only enters the conversation for a veteran in narrow cases. If you're eligible, start with VA.

Can I buy a condo or multi-unit property with a VA loan?

Yes. Condos generally need to be in a VA-approved project. You can buy up to 4 units with a VA loan as long as you occupy one unit as your primary residence — rental income from the other units can help you qualify.

Can I use a VA loan for an investment property or second home?

No — VA loans are for primary residences you intend to occupy. (You can later convert a VA-financed home to a rental when you PCS or move, which is a separate and common strategy.)

What is a VA IRRRL (streamline refinance)?

The Interest Rate Reduction Refinance Loan lets you refinance an existing VA loan to a lower rate with minimal documentation — typically no appraisal and no income verification — at a 0.5% funding fee. When rates drop, it's one of the cheapest refinances in existence.

Talk to a Veteran Mortgage Broker About VA Loans

Douglas Wilkerson — Mortgage Broker, NMLS #1680719 · Marine Corps Veteran

Freeman Douglas Corporation
1548 The Greens Way, Ste. 4, Jacksonville Beach, FL 32250
Phone: (904) 517-4049
Email: [email protected]

Serving Jacksonville, Jacksonville Beach, NAS Jacksonville, NS Mayport, St. Augustine, Orange Park, Fernandina Beach, and all of Duval, St. Johns, Clay, and Nassau counties — plus veterans and active-duty buyers across Florida and additional states where licensed.

Freeman Douglas Corporation is a DBA of Edge Home Finance. This is not a promise to lend — all credit decisions are subject to approval. Douglas Wilkerson, NMLS #1680719 | Edge Home Finance, NMLS #891464. Verify licensing at nmlsconsumeraccess.org. Equal Housing Opportunity.