By Josh Richardson (NMLS 2448184) and Anna Richardson (NMLS 2045806) | Updated September 2026
A VA loan lets eligible veterans, active-duty service members and some surviving spouses buy a home in Tampa Bay with no down payment and no monthly mortgage insurance. Most borrowers pay a one-time VA funding fee instead, which you can finance into the loan or avoid entirely if you qualify for an exemption.
Who qualifies
Eligibility comes from your service record. You need a Certificate of Eligibility (COE), and we can help you request it. Lenders also set their own credit and income requirements, so being eligible is the first step rather than the approval.
What the funding fee costs
The 2026 VA funding fee for a purchase depends on your down payment and whether this is your first use of the benefit:
| Down payment | First use | Subsequent use |
|---|---|---|
| 0% | 2.15% | 3.3% |
| 5% or more | 1.5% | 1.5% |
| 10% or more | 1.25% | 1.25% |
Veterans who receive VA disability compensation, and some others, are exempt from the fee. [Verify against the VA’s current funding fee page before publishing.]
Loan limits
Borrowers with full VA entitlement have no VA loan limit. Your lender’s guidelines and your income still decide how much you can borrow.
What Tampa Bay buyers should plan for
Florida homes carry homeowners insurance and flood-zone considerations that affect both your monthly payment and your appraisal. We walk through them before you write an offer. [Add 2-3 local specifics you can stand behind: for example homes near MacDill Air Force Base, closing-cost differences between Hillsborough and Pinellas, and VA-approved condo projects.]
Why use a broker for a VA loan
We work with 140+ lenders, so we compare VA options across lenders instead of offering one lender’s program. [Add one real client story, with the client’s permission.]
Denied for a VA loan somewhere else? One lender’s “no” is often about its own extra rules, not the VA’s. Get a free VA loan second opinion.
PCSing to MacDill or retiring to Florida? See our military relocation guide.
Frequently asked questions
Can I use a VA loan more than once? Yes. You can use the benefit again after selling a home, and in some cases while keeping a previous one. The funding fee is higher for subsequent use with no down payment.
Can I buy a condo with a VA loan? Yes, if the condo project is VA-approved. We check this at the start so you do not lose time on a building that will not qualify.
Do I need 20% down to avoid mortgage insurance? No. VA loans have no monthly mortgage insurance at any down payment.
Does a VA loan work for a home in Pinellas or Pasco County? Yes. VA loans are not limited to Hillsborough County; the property must meet VA appraisal standards wherever it is.
Ready to talk? Call (727) 888-6650 or start a pre-qualification.
Your Home Loan Team, powered by GoRascal (NMLS 2072896), Tampa, FL. Equal Housing Opportunity. All loan approvals are conditional, not guaranteed, and subject to lender review of all information. A loan is conditionally approved when the lender has issued an approval in writing, but until all conditions are met, a loan cannot be funded. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. GoRascal is an Equal Opportunity Mortgage Broker headquartered in Brooklyn, NY. This licensee is performing acts for which a mortgage broker license is required. GoRascal is licensed by the Florida Office of Financial Regulation, NMLS# 2072896. GoRascal is approved to originate Conventional, FHA, VA, and USDA loans, and has the ability to broker such loans to Conventional, FHA, VA, and USDA approved lenders. GoRascal is not acting on behalf of or at the direction of HUD/FHA or the VA. Government & Licensing Disclosures | NMLS Consumer Access
