VA Loans in Florida: A Guide for Veteran and Military Buyers

For eligible veterans, service members and some surviving spouses, a VA loan is one of the most valuable financing tools available. In Miami-Dade County, where the down payment alone can be the biggest hurdle to buying, the ability to purchase with no money down and no monthly mortgage insurance can change what is realistic.

Drew Kern and The Kern Team work with veteran and military buyers across Palmetto Bay, Pinecrest, Cutler Bay and greater Miami-Dade. This guide covers how the program works, what it costs and where it differs from a conventional loan.

What is a VA loan?

A VA loan is a mortgage issued by a private lender, such as a bank or mortgage company, and partially guaranteed by the U.S. Department of Veterans Affairs. The VA does not lend the money. Its guaranty reduces the lender’s risk, which is what allows lenders to offer zero down payment, no private mortgage insurance and competitive rates.

Who is eligible for a VA home loan?

Eligibility generally extends to:

• Veterans who meet minimum service requirements and were discharged under conditions other than dishonorable
• Active-duty service members after a minimum period of service
• National Guard and Reserve members who meet service requirements
• Certain surviving spouses of service members or veterans

Minimum service time depends on when and how you served. The VA publishes the specific requirements by era, and a lender can usually confirm your eligibility quickly.

How do I get a Certificate of Eligibility?

Your Certificate of Eligibility, or COE, confirms to the lender that you qualify for the VA benefit. There are three ways to request one:

• Through your lender. Most VA-approved lenders can pull your COE online in minutes. This is usually the fastest option.
• Online through VA.gov. You can apply directly with your service information.
• By mail. Using VA Form 26-1880, which is the slowest route.

Veterans typically need a DD-214. Active-duty members need a statement of service signed by their commander or personnel office. Guard and Reserve members may need retirement point statements or other service records.

Your COE also shows your entitlement. Borrowers with full entitlement have no VA loan limit, though lenders still set limits based on income, debt and credit. If you have an active VA loan on another home, your remaining entitlement and the county loan limit can affect how much you can borrow without a down payment.

Do VA loans really require zero down payment?

Yes, for eligible borrowers with full entitlement, subject to lender approval. There is also no monthly private mortgage insurance, which on a conventional loan with less than 20% down can add a meaningful amount to the monthly payment.

Zero down does not mean zero cash to close. Buyers still pay closing costs, prepaid items and the funding fee unless it is financed or waived. The VA allows sellers to pay a buyer’s normal closing costs and caps additional seller concessions at 4% of the home’s reasonable value. In practice, a well-negotiated VA purchase can significantly reduce out-of-pocket costs. Our September guide to Florida closing costs breaks down what those costs typically include.

How much is the VA funding fee in 2026?

The funding fee is a one-time charge paid to the VA that helps keep the program running. It is calculated as a percentage of the loan amount and depends on your down payment and whether you have used a VA loan before.

On a $500,000 loan with no down payment, a first-time user would pay a funding fee of $10,750. Most buyers roll the fee into the loan, and the VA allows it to be financed on a purchase.

Some borrowers pay no funding fee at all, including veterans receiving VA compensation for a service-connected disability, eligible surviving spouses receiving Dependency and Indemnity Compensation and active-duty service members who have received the Purple Heart. If you have a pending disability claim, ask your lender how a future rating could affect the fee.

What does a VA appraisal look for?

A VA appraisal does two things. It confirms the home’s value, and it checks the property against the VA’s Minimum Property Requirements, which are designed to make sure a home is safe, structurally sound and sanitary. In South Florida, appraisers commonly look closely at:

• Roof condition and remaining life
• Working electrical, plumbing and A/C systems
• Water intrusion, wood rot and moisture damage
• Peeling paint on homes built before 1978
• Safe access and functioning utilities

Florida is one of the states where the VA requires a wood-destroying insect inspection for most single-family homes. For condos, that inspection is generally required only if the appraiser sees signs of a problem.

If the appraisal is likely to come in below the contract price, the VA’s Tidewater process gives the buyer’s agent a short window to submit additional comparable sales before the value is final. And if the value still comes in low, VA contracts include language that lets the buyer cancel without losing their deposit or renegotiate the price.

A VA appraisal is not a home inspection. A full independent inspection is still worth the cost.

Can I use a VA loan to buy a condo in Miami-Dade?

Yes, but the condo project must be approved by the VA. You can search the VA’s condo approval list before you fall for a unit. If a building is not on the list, approval may be possible, but the process takes time and is not guaranteed. For condo buyers, checking this first can save weeks.

How does a VA loan compare to a conventional loan?

A conventional loan can make more sense in a few situations, such as buying a second home or investment property, or when a repeat VA user can put 20% down and avoid both mortgage insurance and the 3.3% funding fee. A lender who works with both can run the numbers side by side.

In a competitive situation, some sellers still assume VA offers are harder to close. A complete pre-approval, a clear timeline and an agent who knows the VA process go a long way toward changing that impression.

Are there Florida property tax benefits for veterans?

Florida offers several exemptions on top of the standard homestead exemption. Veterans with a service-connected disability rating of 10% or higher may qualify for an additional exemption, and veterans with a 100% permanent and total service-connected disability may qualify for a full exemption on their homestead property. Applications are filed with the Miami-Dade Property Appraiser.

Frequently Asked Questions

Can I use a VA loan more than once?

Yes. The benefit can be reused, and in some cases you can have more than one VA loan at a time if you have remaining entitlement.

Can I use a VA loan for a vacation home or rental?

No. VA loans are for a primary residence, and you generally need to move in within a reasonable time after closing.

What credit score do I need for a VA loan?

The VA does not set a minimum credit score. Lenders set their own, so requirements vary.

Can a VA loan be assumed by the next buyer?

Yes. A qualified buyer can assume a VA loan with lender approval and a 0.5% funding fee, which can be a selling point when rates are higher than your existing rate.

Do I need a VA-approved lender?

Yes. Choose a lender with VA experience, since familiarity with the appraisal and closing process helps keep your timeline on track.

If you have served and are considering a home in Palmetto Bay, Pinecrest or Cutler Bay, Drew Kern and The Kern Team can help you line up a VA-experienced lender and build an offer that sellers take seriously.

Drew Kern, The Kern Team