Florida

Branches located in Florida

Orlando

Jacksonville

Tampa

Welcome to Florida

The Sunshine State, where endless sunshine meets unparalleled coastal beauty. Known for its inviting climate, Florida offers stunning beaches from Miami to the Gulf Coast, along with diverse landscapes like the Everglades. The state's rich history echoes through the streets of St. Augustine and blends with the vibrant cultures of Miami, creating a unique mix of Hispanic, Caribbean, and Southern heritage.

Florida's dynamic economy thrives on tourism, agriculture, and technology, with hubs of innovation from Cape Canaveral's aerospace sector to Jacksonville's finance industry. Each city and town in Florida has its own personality, welcoming visitors and residents with a sense of community and hospitality. Whether you're drawn to the serene beaches, bustling urban areas, or tranquil retirement communities, Florida offers a quality of life that is as diverse and vibrant as its landscapes. Come experience the magic of Florida with Military Home Spot Lending, where we help you find your perfect home in this beautiful state.

Major Florida Cities

Florida's "Biggest Cities" section showcases the state's most populous urban centers, each a unique melting pot of culture, economy, and recreational activities. From Jacksonville's sprawling parks to Miami's bustling streets and Orlando's world-famous theme parks, these cities are not just the largest by numbers but also by the opportunities and experiences they offer. This section delves into the heart of Florida's urban life, highlighting what makes each city a vital part of the state's diverse tapestry.

Quick Links To Other City Pages

Jacksonville

Miami

Tampa

Orlando

St. Petersburg

Hialeah

Port St Lucie

Tallahassee

Palm Bay

Cape Coral

Fort Lauderdale

Hollywood

Veteran Benefits in Florida

Florida provides veteran homeowners with a wealth of benefits designed to make homeownership both accessible and affordable. From tax exemptions to competitive loan terms, veterans in the Sunshine State can take advantage of numerous financial incentives and support services that cater to their unique needs.

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Florida's Military Presence

Florida stands as a strategic pillar for America's defense, hosting an array of significant military installations that span across its peninsular landscape. From the panhandle's Naval Air Station Pensacola, the cradle of naval aviation, to the southern tip's Coast Guard Sector Key West, these bases are crucial for operations like training elite pilots, testing cutting-edge military technology, and coordinating national defense efforts. They underscore Florida's pivotal role in bolstering the military's readiness and reinforce the state's deep-rooted connections to the armed services.

• Naval Air Station Pensacola: Known as the "Cradle of Naval Aviation," NAS Pensacola is home to the Blue Angels and the National Naval Aviation Museum.
• Naval Air Station Jacksonville: A multi-mission base hosting a variety of naval aviation platforms and the maritime patrol reconnaissance community.
• Naval Station Mayport: One of the largest naval facilities in the country, located near Jacksonville, providing berthing and support for numerous ships.
• Eglin Air Force Base: Situated near Valparaiso, Eglin is known for its test and training range and hosts the Air Force Materiel Command's Armament Directorate.
• Hurlburt Field: An Air Force installation that houses the Air Force Special Operations Command (AFSOC) and the 1st Special Operations Wing.
• MacDill Air Force Base: Located in Tampa, this base is home to the United States Central Command and the United States Special Operations Command.
• Patrick Space Force Base: Near Cocoa Beach, Patrick SFB operates as a Space Force installation with launch facilities and controls the Cape Canaveral Space Force Station.
• Tyndall Air Force Base: Positioned east of Panama City, Tyndall is a training location for F-22 Raptor pilots and is undergoing reconstruction to become the "Base of the Future" after hurricane damage.
• Homestead Air Reserve Base: South of Miami, this base supports the Air Force Reserve Command with F-16 and rescue operations.
• Coast Guard Air Station Clearwater: One of the largest Coast Guard air stations in the United States, specializing in search and rescue and maritime law enforcement.
• Coast Guard Sector Key West: Provides maritime safety, security, and stewardship along the coastal waters of the Florida Keys.
• Coast Guard Sector Miami: Located in Miami, this sector is responsible for operations in the southeastern United States and the Caribbean basin.
• Coast Guard Sector Jacksonville: Covers operations in parts of both Florida and Georgia, including the commercial space launches from Cape Canaveral.
• Blount Island Command: A Marine Corps logistics base in Jacksonville, supporting maritime pre-positioning force operations.


 

Florida VA Loan Requirements

VA loan requirements in Florida align with those in other states, with specific eligibility criteria related to your service time and general requirements, such as fees and residency obligations.

To qualify for a VA loan, you typically need to meet one of the following service requirements:

• 90 days of active service during wartime
• 181 continuous days of active service during peacetime
• 6 or more years of service in the National Guard or Reserves
• Unremarried surviving spouse of a servicemember who died in the line of duty or due to a service-related disability

In addition to these service requirements, VA loans have other conditions, including:

• Funding Fee: A one-time fee that helps cover the cost of the loan, which varies based on the down payment amount and military category. Some borrowers may qualify for a reduced fee or an exemption.
• Occupancy Requirement: Borrowers typically need to occupy their new home within 60 days of purchase, with some exceptions.
• Primary Residence Use: VA loans must be used for the borrower’s primary residence, not for investment properties or second homes.

Florida also has specific property requirements:

• No Heating System Required: In certain South Florida counties (Broward, Charlotte, Collier, Dade, Glades, Hendry, Lee, Martin, Monroe, and Palm Beach), homes may not require a heating system.
• Licensed Installer for Manufactured Housing: New or proposed manufactured homes must be installed by a licensed installer.

Each lender may have their own set of qualification requirements, so it’s essential to speak with your Loan Officer for detailed guidance.

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Florida VA Loan Limits

VA loan limits in Florida can vary by county and change annually based on the housing market. Most counties in Florida adhere to the standard VA loan limit of $766,550 for a single-family home. However, Monroe County is an exception, with a higher loan limit of $929,200.

It’s important to note that VA loan limits do not cap the amount you can borrow, but rather determine how much of the loan can be covered with no down payment. When you have full entitlement, you can borrow as much as your lender allows without a down payment, as long as it’s within the county’s loan limit.

VA Loan Entitlement in Florida

VA loan entitlement represents the amount the VA will guarantee to the lender if the borrower defaults. There are two types of entitlement:

• Full Entitlement: When you have full entitlement, you can borrow up to 25% of the loan amount without a down payment. This entitlement makes VA loans attractive by reducing risk for lenders and offering favorable terms.
• Remaining Entitlement: If you’ve already used part of your entitlement, the VA will guarantee 25% of the county loan limit minus the amount of entitlement already used. This may require a down payment.

Your entitlement is a lifetime benefit that can be reused, subject to certain conditions. Consult your Loan Officer for more details on how entitlement works and how it impacts your loan options.

VA Loan Rates in Florida

Mortgage rates for VA loans fluctuate based on various factors, including economic conditions and individual borrower characteristics like credit score. VA loans generally offer lower interest rates than other loan types due to the government guarantee.

Types of VA Mortgage Programs in Florida

• VA Purchase Loan: Available with both fixed and adjustable rates, ideal for borrowers seeking consistent payments or those who anticipate relocation within a few years.
• VA Cash-Out Refinance Loan: Allows borrowers to refinance up to 100% of their home’s value, even from non-VA loans, to access cash for various needs.
• VA Streamline Refinance Loan: Also known as the VA Interest Rate Reduction Refinance Loan (IRRRL), this option offers a simplified refinance process with potential for lower rates and payments.

How to Get a VA Loan in Florida

To apply for a VA loan in Florida, follow these steps:

1. Apply for a Certificate of Eligibility (COE): This document verifies your eligibility for a VA loan. Your Loan Officer will assist you in gathering the necessary information.
2. Choose the Right Loan: Work with your Loan Officer to determine the best VA loan option for your needs.
3. Find a Home: Your lender may refer you to a Real Estate Agent to help find and negotiate a purchase agreement for your home.
4. Home Appraisal: Your Loan Officer will arrange for a property appraisal by a VA-assigned appraiser.
5. Loan Approval and Closing: If your lender is VA-authorized, they can approve and close your loan without needing separate VA approval.

Once these steps are completed, you’ll be ready to close on your new home and enjoy the benefits of a VA loan in Florida.

Real Estate in Florida

Florida's real estate landscape is as diverse and vibrant as its environment, offering a myriad of options for prospective homeowners and investors. From the luxurious beachfront properties in Miami to the serene suburban homes in Orlando, and the bustling urban dwellings in Tampa, the state caters to a wide range of preferences and budgets. Florida's booming economy, coupled with its no state income tax policy, continues to attract a growing population, fueling demand in the housing market. Additionally, the state's commitment to veteran benefits, such as property tax exemptions, makes it an even more attractive destination for homebuyers. Whether you're drawn by the allure of waterfront living, the charm of historic neighborhoods, or the convenience of city life, Florida's real estate market offers something unique for everyone, making it a perpetual hotspot for buyers and investors alike.