Skip to content
Fact Checked by Experts

VA Loans in Polk County, Florida: Take Advantage of the Zero Down Payment

VA loans are returning with the all-time lowest rate of mortgage delinquency in the country and a meager rate of foreclosures. Many Americans, who were shut out of homeownership because they had insufficient money for a down payment or other requirements, can now engage in the home buying world without any issues.

As the years tick by, the financial assistance to help get back on your feet may be limited or nonexistent. In this instance, using a VA Zero Down payment Loan can be just what you need to stay in your home and make ends meet.

VA loans are a type of mortgage that offers qualified veterans the opportunity to buy a home at a lower interest rate than is available to non-veterans. Here's what you need to know if you're a veteran looking for VA loans in Polk County.

What Is a VA Loan?

The US Department of Veterans Affairs (VA) offers VA loans to qualifying applicants who have previously served in the US armed forces and meet specific requirements. The VA guarantees that these loans will be repaid with your monthly payments and that they will not exceed your home's current value.

A VA loan is a mortgage that uses the US Department of Veterans Affairs (VA) power to help you get a home loan. The VA can help you get a VA-guaranteed loan with little or no down payment, fees, or other costs.

There are three types of VA loans in Polk County, Florida:

  • Veterans Administration (VHA) home loan - VHA home loans are the most common type of VA loan and are available to active-duty military, veterans over the age of 65, and certain family members of those who have died while on active duty. VA home loans are intended for first-time homebuyers and people who want to buy a new home. These loans typically require a minimum down payment of around 10 percent and may have special requirements, such as closing costs.

  • VA guaranteed loan - These loans are backed by the Veterans Affairs Department and are available to all veterans, regardless of their disability rating or income level. The VA-guaranteed loan is a government-insured loan and may be subject to income restrictions depending on their credit history.

  • VA guaranteed to refinance loan - The US Department of Veterans Affairs backs the loan. It offers low-interest rates and flexible terms that allow borrowers to pay off existing mortgages with lower monthly payments than they would otherwise be able to afford without a refinance loan. The minimum FICO score is 620. These are for veterans with a service-connected disability rating of 50 percent or more and low incomes (if you're married).

What is a Zero Down payment Loan?

A zero-down VA loan is at the top of the list of home loan options. This loan package allows you to finance 100% of the purchase price of your new home with no money down. The down payment is made by the seller, who can choose to use funds from their account or access a VA-guaranteed lender for a zero-down financing option. It's available in some of the most affordable areas in Polk County, including Lakeland and Winter Haven.

A zero-down VA loan aims to help veterans who have served in combat zones get into their dream homes as quickly as possible and avoid the typical hassle of buying a home, which is often filled with confusion, long waits, and high fees. It also allows them to build equity and save for their children's education expenses. In addition, it helps veterans avoid having to pay back any money they borrowed from lenders or other sources.

With zero closing costs and no application fees, you can apply for your new house without extra costs. You will also be able to get a VA mortgage faster than most conventional loans because the government approves it.

VA Funding Fees

The VA will provide a guaranty statement (also known as a VA guaranty) to the lender when it approves your loan. The guaranty statement shows your loan amount, interest rate, and other details.

If you're eligible for the VA mortgage program, you could receive a 100 percent loan-to-value limit. This means the lender must use 100 percent of the home's value as collateral for the mortgage loan. The VA guarantees your loan with its funds so that you may have no out-of-pocket costs. However, you must pay closing costs and fees usually paid by borrowers who don't have the VA's guarantee.

The VA may require a funding fee for certain loans. The funding fee is an amount you pay to the lender to help cover the cost of processing your loan application. VA funding fees are not taxed by the IRS and do not affect your credit score.

However, if you have a VA loan with an LTV greater than 100 percent, you will be required to pay VA funding fees for the life of the loan. You can find out how much your funding fee will be by calling the lender that handles your application before submitting it.

How to Qualify for a ZERO Down payment VA Loan in Polk County, Florida

In all 50 states, the US Department of Veterans Affairs allows veterans to qualify for a zero downpayment residential loan, provided they meet specific criteria outlined in the VA's 8-Point Pillars of Eligibility. Before applying for a VA loan, you must know what information is needed. This way, you can make a good choice about whether or not to apply for one.

There are two main approaches to qualify for a zero-down payment VA loan. You can use the VA's standard definition of a "disabled veteran," or you can qualify based on your spouse's or parent's income and assets. The first option is more common, but it often requires more documentation from you (or your spouse) and may require additional financial counseling from a VA loan officer.

If you're unsure which category best applies to you, call your local VA loan office and ask about their zero-down payment options.

Here are some of the factors that will help determine if you're eligible:

  • Income - Your income must be less than 150% of the area median income (AMI) to qualify for a ZERO downpayment VA home loan in Polk County, Florida. However, there are some exceptions to consider. If you're self-employed or unemployed, your income will be adjusted accordingly.

    Suppose you have several properties and make more than $50,000 yearly from rental properties. In that case, your income may be counted twice when determining whether or not you qualify for a zero down payment VA mortgage loan in Polk County, Florida. The minimum income requirement is $50,000 for single or married veteran applicants and $100,000 for family members looking to purchase homes on behalf of their veteran.

  • Credit Score - Your credit score is also significant when applying for a ZERO down payment VA mortgage loan in Polk County, Florida, because it determines how much interest. An excellent way to boost your credit score is by paying off all debts in full each month. If you can't, try using an installment loan to pay down debt quickly over time.

Besides the credit score, though, you may qualify if:

  • You're looking to buy a home between $100,000 and $250,000
  • You have no credit or other debt
  • Be at least 62 years old
  • Have a disability rating from the VA
  • Have a service-connected disability that prevents you from working
  • Have an annual income under $72,000 (single) or $99,000 (married)

One of the most important things to remember when applying for a zero-advance loan with us is that it's only available for homes in Polk County, Florida. If you want to apply for one of these loans, you'll need to contact the county office and request an application package with all the necessary documents required for approval.

Close up of a hand of a military man signing a home purchase document

Benefits of VA Loans

The VA Loans in Polk County, Florida, are offered through the US Department of Veterans Affairs (DVA), an agency within the United States Department of Veterans Affairs. The DVA offers mortgage and home loan refinancing options for active-duty service members and their eligible spouses and children.

VA loans offer borrowers several benefits when compared with conventional mortgages. Here are some of the main advantages:

  • No down payment required - Borrowers do not have to make a down payment on their house; hence no need for extra cash or funds from other sources. This program offers zero down payment and closing costs, which means you can buy your home with a smaller down payment and less cash out-of-pocket.

    You can request up to $417,000 in financing for your first home and up to $637,000 in financing for your second home without paying any upfront fees or penalties. Additionally, if you need to sell or refinance in the future, you won't have to pay any fees or points on your home loan. This can save you thousands of dollars in interest fees and closing costs.

  • Flexible terms - VA loans has no prepayment penalties. This makes them an attractive alternative to conventional mortgages because it gives borrowers more time to pay off the loan without worrying about early termination fees or penalty rates for early repayment.

  • Lower interest rates - Most VA loans have fixed interest rates and lower than those offered by private lenders and even lower than those offered by some government agencies such as FHA loans, which typically have variable rates determined by the Federal Housing Administration (FHA).

The zero-down payment option is an excellent way to get your VA loan if you have poor credit or no credit history. You will not have to pay any money upfront when you apply for this loan type, which means that you will not have any debt on your credit report when it comes to buying a home later on in life.

Top 5 Activities in Polk County, Florida for Veterans

It's no secret that Polk County is the home of several veterans, but you may not know that there are many ways to support our veterans and their families. Veterans can receive benefits through the Department of Veterans Affairs (VA) as well as from other government agencies, including the (SSA) or Social Security Administration and the Department of Defense (DOD), among others. Here are some of the top activities that veterans can pursue:

Outdoor recreation & bird watching

The Everglades Park and the Big Cypress National Preserve are located nearby and provide plenty of opportunities for outdoor recreation. With over 400 miles of trails and 50 miles of canoe trails, there's no shortage of places to explore beyond your backyard!

If you love birds but don't want to get dirty or have them nesting in your yard, check out one of the many birding hotspots in Polk County! Some popular locations include Loxahatchee National Wildlife Refuge and Little Lake Whitney Wildlife Management Area.


Veterans often have skills and knowledge that are valuable to other people. Veterans can volunteer at several local organizations such as Habitat for Humanity or local food banks. If you know of any programs or organizations that need volunteers, please let them know about it and offer your services to them.

They can also join various sports teams, including baseball, softball, and basketball. There are also opportunities for veterans to learn how to golf, take up fishing, and participate in numerous other outdoor activities such as biking, hunting, and boating on Lakeland's many lakes and rivers. The list goes on!

Get Education

Veterans can continue their education at any level, including school or college. They may also be eligible for student loan assistance to help them pay for their education. Veterans may qualify for assistance through the JTPA, which helps unemployed veterans obtain employment through training or education. The Department of Labor also offers counseling and job placement assistance, which can help veterans find work after leaving military service.


The Department of Veterans Affairs provides employment assistance to veterans who want to get back into civilian jobs, including job training and placement assistance through its Veterans Employment Center programs.

The Department of Labor and Employment offers this program to assist unemployed veterans looking to start a business or seek employment in any field. This program is designed to help you find a job or learn new skills that will help you get hired. It can even help you get paid for your training! This program is free for eligible veterans and open to all citizens in Polk County who are unemployed or underemployed.

Promote Healthcare with various activities

Veterans often have a great deal of experience delivering healthcare services, so they could be valuable resources when it comes time to promote Healthcare in Polk County, Florida. If you're interested in helping promote Healthcare within your community, talk with local doctors and nurses about ways you can help them with their efforts regularly.

The Polk County Veterans Outreach Center is a nonprofit organization that provides free services to veterans, their families, and the community. It allows veterans to join and promote healthcare services during their free time.


If you are a valid US armed forces veteran and reserve component member, there's a higher chance of getting a home loan than if you have not. Many veterans coming home from war often struggle to find work within their community or immediately return to school to earn the credentials required for employment in civilian positions.

If you're looking for an affordable mortgage backed by the government, then the VA loans program might be right! However, veteran zero-down payment loans provide an alternative way to buy a home while still receiving financial support from the government. The VA home loan program also allows veterans to refinance their existing mortgages at no cost if they meet specific requirements.

With over 50 years of mortgage industry experience, we are here to help you achieve the American dream of owning a home. We strive to provide the best education before, during, and after you buy a home. Our advice is based on experience with Phil Ganz and Team closing over One billion dollars and helping countless families.

Find The Right Mortgage

For more than 20 years, Phil have been helping customers achieve their home purchase and refinance goals by providing them with invaluable resources and support.

Schedule a FREE Consultation
Phil Ganz

Subscribe to Get Your First Time Homebuyer Checklist

Sign up for the weekly newsletter to stay up to date on the latest real estate market trends, loan news, and so much more!