Mortgage Glossary
VA Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs for eligible veterans, service members, and surviving spouses.
What VA Loan means
It offers zero down payment, no monthly mortgage insurance, competitive rates, and no loan limit for borrowers with full entitlement, in exchange for a one-time funding fee.
Florida example
A Florida veteran buys a $400,000 home with $0 down and no PMI through a VA loan. With over 1.5 million veterans in the state, it's one of the most powerful financing tools available.
Related program: Learn more →
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