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VA Loan Limits

The Department of Veterans Affairs Wants YOU to Get Large Loan Limits from MCity!

The Department of Veterans Affairs Helps Soldiers Become Proud Homeowners


You served or currently serve your country, now let your country serve you with a VA home loan specifically designed for veterans and active military personnel who wish to purchase a home. These loans are guaranteed by the Department of Veterans Affairs and are available to almost 30 million eligible veterans and active duty personnel.

In 1944, the Servicemen's Readjustment Act (also known as the GI Bill of Rights) was signed into law by President Franklin D. Roosevelt and extended a wide variety of benefits to eligible veterans. The VA Home Loan Guarantee Program was created to help the many deserving soldiers returning from WWII become proud homeowners. Since then, the eligibility to obtain a VA mortgage and enjoy its benefits has been extended to almost all veterans and military personnel and over 18 million of these home loans have been insured by the government. VA loans offer a zero down payment and many other long-term advantages, which make it a smart loan option to consider. The various benefits and loan limits in Florida are discussed below.

What Are the Benefits of a Department of Veterans Affairs Home Loan?

If you're curious about some of the benefits of obtaining a Department of Veterans Affairs home loan in Florida compared to a more traditional loan, you'll find many good reasons to explore this option:

  • Most VA home loans offer zero down payments.
  • The buyer is informed of reasonable value by a VA-approved, licensed appraiser.
  • VA home loans have negotiable interest rates which are often lower than convention loans.
  • There are no mortgage insurance premiums on VA loans.
  • VA mortgage closing costs are comparable to and often lower than other forms of financing.
  • There is no penalty for prepaying your mortgage.
  • Your Department of Veterans Affairs mortgage can be used as a VA home purchase loan to buy a house, condominium, or townhouse, or to build a new home, make energy-efficient improvements, or refinance an existing VA home loan.
  • Even if you don't qualify for other loan programs, you may still be able to qualify for a VA loan in Florida.
  • The loan limit includes up to $6,000 toward the cost of any energy-efficiency improvements.
  • The seller may contribute up to 6% toward Veteran's closing costs and prepaid items.
  • The buyer does not pay "junk fees" as listed by Department of Veterans Affairs.
  • The VA funding fee may be included in the total amount financed.
  • VA assistance may be available to buyers who default due to temporary financial difficulty.

MCity Mortgage, Inc. has various available loan programs and would be happy to help you figure out if a Department of Veterans Affairs loan is right for you. Contact one of our representatives and we'll be more than happy to assist you with your Certificate of Eligibility

VA Home Loan Limits in Florida – How Much Can I Borrow?

In all but one Florida County, the loan limit for a VA mortgage is $417,000. The exception is Monroe County (the Florida Keys), where the loan limit is $437,500. The best way to begin the borrowing process is to understand what a VA entitlement is and how it affects your VA loan limit.

There are also options for refinancing your Department of Veterans Affairs home loan. These include streamline and cash out refinancing.

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