Florida is one of the largest states for VA lending, with big military communities around Jacksonville, Pensacola, Tampa and the Space Coast, and generous property tax benefits for disabled veterans.
VA residual income in Florida
VA puts Florida in its South region. The money left each month after taxes, the housing payment, upkeep and debts must be at least:
| Household | Minimum a month |
|---|---|
| 1 person | $441 |
| 2 people | $738 |
| 3 people | $889 |
| 4 people | $1,003 |
| 5 people | $1,039 |
For loans of $80,000 or more; a lower table applies below that, and households over five add $80 a person. Source: 38 CFR 36.4340(e). The VA affordability calculator applies it to your numbers.
What is different in Florida
- VA’s residual income test uses the South region figures for Florida (table below).
- Veterans rated 100% permanently disabled from service can get a full exemption from property tax on their homestead; partial discounts apply at lower ratings, subject to the rules.
- Florida has no state income tax, which helps the residual income calculation.
- Insurance in coastal areas counts in VA’s debt-to-income and residual income figures, so get quotes early.
Questions
Can I get a VA home loan in Florida?
Yes, anywhere in the state for a home you’ll live in, with no down payment with full entitlement.
What is the maximum VA loan amount in Florida?
With full entitlement there is no VA limit; the lender approves the amount. With partial entitlement, the county conforming limit applies.
Do disabled veterans pay property tax in Florida?
Veterans with a 100% permanent service-connected disability can be fully exempt on their homestead; others may get partial discounts. The county property appraiser approves it. See also: Mortgage loans in Florida.
Related
VA loans in other states: California, Arizona, Ohio. All of Florida: mortgage loans in Florida.
