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All About The VA Loan Jacksonville

Are you a military service member or veteran looking to buy a home in Jacksonville, FL? The Department of Veterans Affairs offers unique resources to help those with military experience purchase a home with a low or zero down payment. In this comprehensive guide, we will explore the benefits and requirements of VA loans in Jacksonville, FL, and provide you with valuable insights to navigate the process successfully.

What is a VA Loan?

A VA loan is a mortgage option available to veterans, active service members, and surviving spouses. Unlike conventional loans, VA loans are backed by the Department of Veterans Affairs, offering competitive interest rates and flexible terms. Qualified individuals can use VA loans to purchase single-family homes, condominiums, multi-unit properties, manufactured houses, and even new constructions.

Benefits of VA Loans in Jacksonville, FL

VA loans in Jacksonville, FL come with numerous benefits that make homeownership more accessible and affordable for veterans and their families. Let’s explore some of the key advantages:

1. Zero Down Payment

One of the standout benefits of VA loans is the ability to buy a home without making a down payment. While most other loan types require a down payment of at least 3% of the loan amount, VA loans allow qualified veterans to purchase a home without any upfront payment. This eliminates the need to save for a substantial lump sum and opens up homeownership opportunities for more individuals.

2. Lower Interest Rates

VA loans consistently have some of the lowest average interest rates in the market. According to data from Optimal Blue, VA loans have maintained this competitive advantage for the past two years. The lower interest rates not only make monthly payments more manageable but also result in significant long-term savings over the life of the loan.


3. Flexible Credit Guidelines

VA loans were designed to expand access to homeownership, and they continue to fulfill that mission by offering more flexible and forgiving credit underwriting requirements. While credit score minimums vary by lender, VA loans often have lower score requirements compared to other loan types. Additionally, VA loans do not have a hard cutoff for debt-to-income ratio and typically have shorter waiting periods following negative credit events, such as bankruptcy or foreclosure.

4. Closing Cost Limits

Financing a home purchase often incurs various closing costs and fees. With VA loans, lenders are limited in how much they can charge a veteran to originate and process the loan. Furthermore, sellers in a VA transaction can contribute towards the buyer’s loan-related closing costs and concessions, up to 4% of the loan amount. Certain costs and fees are also prohibited from being paid by VA buyers, further reducing the financial burden.

5. No Private Mortgage Insurance (PMI)

Unlike conventional loans, VA loans do not require private mortgage insurance (PMI). PMI is an additional monthly cost that buyers usually have to pay if they cannot make a 20% down payment. The absence of PMI for VA loans saves veterans money and allows them to allocate their funds towards other priorities, ultimately boosting their homebuying budget.

Eligibility for VA Loans in Jacksonville, FL

To be eligible for a VA loan in Jacksonville, FL, veterans and service members must meet certain requirements. These requirements include basic time-in-service and character of service criteria. Additionally, some surviving spouses may also be eligible for VA loans. Here are the general eligibility guidelines:

·        90 consecutive days on active duty (wartime)

·        181 consecutive days on active duty (peacetime)

·        6 years in the Guard or Reserve, or 90 days under Title 32 orders (with at least 30 consecutive days served)

Veterans can obtain their Certificate of Eligibility (COE), a formal document issued by the VA that confirms they meet the eligibility guidelines. While it’s not necessary to obtain the COE before starting the home loan process, veterans need to meet both VA and lender guidelines related to credit score, debt-to-income ratio, and other factors.

Types of VA Loans in Jacksonville, FL

The VA loan benefit offers qualified veterans in Jacksonville, FL multiple powerful home financing options. Let’s explore the different types of VA loans available:

1. VA Purchase Loan

A VA purchase loan allows veterans and service members to buy new or existing homes with a zero down payment. This type of loan is versatile and can be used to purchase single-family homes, condominiums, manufactured homes, multi-unit properties, and even new constructions. It’s important to note that policies and guidelines may vary among lenders, and not all lenders offer all types of VA purchase loans.


The VA Interest Rate Reduction Refinance Loan (IRRRL), also known as VA Streamline, is a popular choice among veteran homeowners looking to refinance their existing VA loan. The VA IRRRL offers a simplified and low-cost refinance option that often does not require credit underwriting, income verification, or an appraisal. This streamlined process helps veterans take advantage of lower interest rates and potentially lower their monthly mortgage payments.

Jacksonville, FL VA Loan Requirements

While VA loans generally follow the same processing steps nationwide, there are specific requirements set by the VA for certain areas, including Jacksonville, FL. These requirements may vary based on factors such as energy efficiency, insect inspections, and environmental hazards. Here are some specific VA loan requirements for Jacksonville, FL:

·        A heating system is not required in certain south Florida counties, including Broward, Charlotte, Collier, Dade, Glades, Hendry, Lee, Martin, Monroe, and Palm Beach.

·        New or proposed manufactured housing must be installed by a licensed installer.

·        Certain leaseholds, such as Okaloosa Island, Proud Ground Pinellas, and Santa Rosa Island, have been accepted by the VA. Lenders must ensure that the remaining term of the lease exceeds the term of the new loan by at least 14 years.

Why Choose Guaranteed Rate for Your Jacksonville, FL VA Loan?

As a proud partner of the USO, Guaranteed Rate is dedicated to helping guide and support veterans and their families through the home buying or refinancing process. Qualifying borrowers in Jacksonville, FL pay no lender fee on VA loans throughout 2020, which can result in savings of $1,440. With a commitment to excellent customer service and expertise in VA loans, Guaranteed Rate is an ideal choice for your Jacksonville, FL VA loan needs.

Frequently Asked Questions

What do I need to apply for a Jacksonville, FL VA Loan?

To apply for a VA loan in Jacksonville, FL, borrowers must first obtain a Certificate of Eligibility (COE). This document provides documented proof of the applicant’s history of service and entitlement to a VA loan. The COE allows applicants to demonstrate their military service history to a lender. The specific requirements for proving service can vary based on the applicant’s service history and current status.

Do I need private mortgage insurance with a Jacksonville, FL VA Loan?

No, private mortgage insurance is not required for VA loans. The backing and guarantee provided by the US government eliminate the need for PMI. This, combined with zero down payments and lower interest rates, can result in significant savings for VA loan borrowers throughout the duration of their mortgage.

Are interest rates lower for Jacksonville, FL VA Loans?

Yes, VA loans offer lower interest rates compared to traditional conventional mortgages. The lower interest rates are a result of the government backing and guarantee provided by the Department of Veterans Affairs. Lower interest rates can lead to substantial savings over the life of the mortgage, making VA loans an attractive option for veterans in Jacksonville, FL.

Is a Jacksonville, FL VA Loan backed by the U.S. Government?

Yes, VA loans are backed by the Government National Mortgage Association, also known as Ginnie Mae. Ginnie Mae was created to provide access to homeownership for underserved populations, including military veterans and their families. By purchasing VA loans, Ginnie Mae creates a secondary market for these loans, allowing lenders to offer more favorable terms and conditions.


If you’re a veteran or active service member looking to buy a home in Jacksonville, FL, VA loans offer valuable benefits and opportunities. With zero down payments, lower interest rates, and flexible credit guidelines, VA loans make homeownership more accessible for veterans and their families. By choosing a reputable lender like Guaranteed Rate and understanding the specific requirements for VA loans in Jacksonville, FL, you can navigate the process with confidence and achieve your homeownership goals.

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