VA

These loan options are especially created for qualified veterans, service members and their partners. This is designed to give qualified members the best option to have financial freedom. We honor and thank all veterans for their service and sacrifice.

How Do VA Loans in Work

The VA loan option is designed for qualified veterans, service members and their partners as an affordable option. Read more about other benefits down below.  The VA loans are protected and backed by the Department of Veterans Affairs. These loans have fixed or adjustable interest rates and a wide range of loan terms. 

How To Qualify For A VA Loan 

• A Certificate of Eligibility

• A minimum FICO Score of 620

• Must have a debt-to-income ratio of no more than 60%. You can find that estimate by adding your monthly payments debt payments and divide them by your total monthly income before taxes.

• Finances to cover the funding fee issued by the VA. This may be rolled into your loan. However, you may not have to pay this fee if the following criteria applies to you.

  • You have a service-connected disability.

  • You have received VA disability in the past or currently do.

  • You’re surviving spouse who qualifies.

VA Loan Benefits

• There is no need for down payment. Financing could be up to 100% of the purchase price

• You can qualify with a lower credit score along with more debt than other programs.

• You can use the VA loan benefit more than once - as long as you sell your home or pay off your mortgage.

If you are thinking about refinancing, the VA loan has great benefits as well.

• If you already have a VA loan, you can refinance up to 100% of your property’s value.

• You can refinance with an IRRRL Streamline if you have a loan already. 

VA Home Loan in Requirements For Your Property

• You or your spouse must move into the home within 60 days. However if deployed, and others, there may be an exception. 

• It must be your primary residence, not including a vacation or income property.

Why Choose Tampa Bay Home Mortgage

Tampa Bay Home Mortgage is ready and willing to provide quality service to those in need. We treat each need in accordance to the person and their needs. Choose us today!