VA Loans

South Atlantic Financial Services proudly offers mortgage loan products for active-duty military and Veterans in Miami. 

A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA) that is available to most U.S. service members. VA loans offer a loan guaranty benefit to help eligible veteran borrowers refinance or buy a home. VA loans do not require any monthly mortgage insurance included in the loan amount, and a Veteran borrower could purchase a home without putting any money down.

To check your eligibility for a VA Loan, call us at (305) 667-8776

Basic VA Home Loan Requirements

What can a VA loan be used to buy?: Primary residence home only
Maximum Loan Amount: Maximum Loan Amount: $548.250 for a single family home in MOST counties in Florida. *2021 limits
Down Payment Requirement: 0% of the purchase price
Available Loan Terms: 5yr or 7yr ARM, 15 and 30 year fixed mortgage
Is Monthly Mortgage Insurance Required?: No. This is a great advantage of VA Loans.
Are there Property Eligibility Requirements: Yes. A home’s general condition is considered during a VA appraisal. VA Minimum Property Requirements or “MPR” are an important part of the VA loan process. One of our VA Loan Specialists can provide the current standards provided by the U.S. Department of Veterans Affairs.
Income Eligibility Requirements: 
No minimum or maximum income limits but you are expected to have a stable, reliable income that can cover your monthly expenses, including the new mortgage payment. You will also be required to meet VA’s residual income requirements and South Atlantic Financial Services will handle checking this out for you. 

Maximum Debt to Income Ratio: Contact a VA Loan Specialist at (305) 667-8776 for the most up-to-date information on the debt to income ratios.
Are Seller Paid Closing Costs allowed: Yes. For a VA Loan, the seller may pay up to 6% of the purchase price towards closing costs.
Are gift funds allowed?: Yes. For VA Loans, a borrower may receive unlimited gift funds for a primary residence purchase.

Advantages of a VA Home Loan

Get Pre-approved for a VA Mortgage Today

South Atlantic Financial Services specializes in VA loans.  We love helping to guide Veterans through each step of the VA home loan process.  

Contact Our Team at (305) 667-8776 or Schedule a Call today to get started on your VA pre-approval.

Choose Where to Start

Get Pre-Approved
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