Buy a home at a reasonable rate with a VA loan in Okaloosa, FL
VA loans were established prior to the end of World War II and have since assisted numerous veterans, service members, and military families in fulfilling their dream of owning their a home. In recent times, the program has become increasingly significant, with VA loan volume skyrocketing and offering substantial financial advantages that enable countless veterans to purchase homes, thereby making homeownership a possibility for those who may not have qualified otherwise.
If you sacrificed comfort and security to help protect our great nation, Mission One Mortgage thanks you for your service. We believe that there's no greater honor than to serve those who have served our country. We're not afraid to go above and beyond for our veterans because that's exactly what they did for us.
What is a VA Loan in Okaloosa, FL?
A VA loan is a mortgage option that is backed by the government and available to Veterans, service members, and surviving spouses. It is offered by private lenders such as banks and mortgage companies and not directly by the Department of Veterans Affairs.
VA home loans come with competitive interest rates and terms and can be used to purchase a variety of properties, including:
- Single-Family Homes
- Condominiums
- Multi-Unit Properties
- Manufactured Homes
- New Construction Homes
One of the great benefits of VA loans is that eligible Veterans can buy a home with no down payment, no mortgage insurance, lenient credit requirements, and the lowest average fixed rates in the market.
This program was created by the federal government to make it easier for those who have served our country to become homeowners, and it is widely considered the strongest benefit program available for this purpose.
The VA has a guarantee program that ensures the government will pay back the lender a portion of a VA loan if the borrower fails to make payments. This guarantee reduces the risk for lenders, and as a result, they can offer more favorable terms and require no down payment.
Compared to conventional loans, VA loan rates are typically lower. The rate could either be fixed, meaning payments will remain the same, or adjustable, meaning that payments could change over time. However, keep in mind that adjustable-rate mortgages (ARMs) come with some risk, as you'll pay more if rates rise.
If you are eligible for a VA loan, you can complete the VA mortgage application process through lenders like Mission One Mortgage. While many lenders offer VA loans, not all of them do, and some lenders specialize in serving VA loan borrowers. Generally speaking, it's best to apply with multiple lenders in order to compare rate offers and find the best deal.
Debbie Haberny, the proud broker-owner of Mission One Mortgage, is a certified Vetted VA Professional. The main objective of her team is to simplify the mortgage process for veterans by providing them with relevant tools and knowledge. Debbie and her team of mortgage experts base their expertise on the VA Handbook and are committed to showing veterans all the options and opportunities available to them with their VA benefits. They also connect veterans with qualified lenders and resources to ensure their VA loan process is seamless.
Whether you're a first-time home buyer or a seasoned homeowner, we'll help you understand the differences between financing programs so you can select the one that's best for you.
What are the Biggest Benefits of Having a VA Loan in Okaloosa, FL?
At Mission One Mortgage, we work with many Veterans who know that VA loans exist but don't quite understand the full range of benefits they provide. If that sounds familiar, keep reading. This section was written especially for you.
01
Benefit:
No Down Payment Needed
One of the standout benefits of the VA Loan program is that qualified borrowers can purchase a home without having to make a down payment up to the conforming loan limit of their county. This is a significant advantage over conventional and FHA loans, which typically require minimum down payments of 5 percent and 3.5 percent, respectively.
For example, on a $400,000 mortgage, a conventional loan would require a $20,000 down payment, while an FHA loan would require $14,000. Saving up that kind of cash can take service members and veterans years, but with the VA Loan, they can pursue homeownership without having to scrape and stockpile for years on end.
03
Benefit:
Less Strict Credit Requirements
It's important for military buyers to stay informed about credit score requirements when considering home financing options. Although credit score requirements have eased up a bit, it's still necessary to meet certain benchmarks set by conventional and FHA lenders. However, even meeting these benchmarks can be a challenge for many buyers.
Most VA lenders require a credit score of at least 620, which falls in FICO's "Fair" credit score range. Borrowers will typically need to meet a higher threshold for conventional mortgages, particularly if they want to secure a low-interest rate. It's worth checking out VA Loan rates to learn more about financing options.
Despite common misconceptions, military buyers don't need a perfect credit score to obtain financing. While a higher credit score can certainly help, it's important to remember that VA loans in Okaloosa, FL are designed to help military members and veterans access affordable housing.
05
Benefit:
Help with Closing Costs
Closing costs are an inevitable part of the home-buying process, no matter what type of mortgage product you choose. However, if you're a veteran, you may be pleased to know that the VA places limits on the fees and costs you're required to pay at the time of closing. Additionally, homebuyers have the option to ask sellers to cover all loan-related closing costs, as well as up to 4 percent of the purchase price for other expenses like prepaid taxes, insurance, and collections.
02
Benefit:
No Need for Private Mortgage Insurance
Coming up with a down payment can be challenging for both conventional and FHA homebuyers. In addition, they are required to pay for mortgage insurance unless they can make a sizable down payment, usually 20% of the purchase price. For instance, on a $400,000 mortgage, this would be a staggering $80,000 in cash.
FHA loans carry an upfront mortgage insurance premium and annual mortgage insurance. The latter now lasts for the life of the loan. On the other hand, conventional homebuyers will pay this monthly cost until they have built up enough equity, which can take several years.
Fortunately, VA loans do not require any mortgage insurance. However, there is a mandatory funding fee that goes directly to the Department of Veterans Affairs. Borrowers with a service-connected disability are exempt from paying this fee, which helps keep the program going for future generations.
04
Benefit:
Bankruptcy and Foreclosure
If you've experienced a financial setback such as a foreclosure, short sale, or bankruptcy, you may be worried about your chances of securing a VA home loan. However, don't lose hope just yet. With VA loans, it's still possible to be eligible for a home loan just two years after a foreclosure, short sale, or bankruptcy. In some cases, veterans who file for Chapter 13 bankruptcy protection can be eligible for a VA loan just a year after the filing date.
It's worth noting that the waiting periods for conventional or FHA financing can be significantly longer than those for VA loans. Additionally, even if you've lost a VA-backed mortgage to foreclosure, you may still be eligible for another VA loan.
So, if you're a veteran who's experienced a financial setback but still dreams of owning a home, don't give up hope. Explore your options and see if a VA loan with Mission One Mortgage could be the solution you need.
06
Benefit:
DTI Ratio Flexibility
It's important to keep in mind that VA lenders typically prefer borrowers to spend no more than 41 percent of their gross monthly income on major debts, such as mortgage payments or student loans. However, it's possible to get a VA home loan even if you have a higher DTI ratio. Some lenders may offer up to 55 percent or more depending on your credit score and ability to meet additional income requirements. This can give homebuyers more flexibility and greater purchasing power when it comes to finding their dream home.
Remember - if you have any questions about the benefits you just read about - like what credit score Mission One Mortgage requires for a VA loan - contact our office today. It would be our pleasure to help you navigate the VA loan process, one step at a time.
(843)822-5685How to Determine Your VA Loan Eligibility
One of the most common questions we get at Mission One Mortgage revolves around VA loan eligibility. Who is actually eligible for this type of loan? What are the requirements for getting a VA loan? If you meet the following requirements, chances are you'll be eligible for a VA loan.
- If you have completed 90 days of service during wartime or 181 days of service during peacetime, you may qualify as an active-duty military member or veteran.
- If you have served in the National Guard or Reserve for a minimum of six years, or have completed 90 days of active duty under Title 32 orders, with at least 30 of them being consecutive, you may be eligible for a VA loan in Okaloosa, FL.
- If your spouse was a service member who passed away while on active duty or due to a service-connected disability, and you haven't remarried, you may be eligible for a VA loan. In some cases, surviving spouses who remarried after the age of 57 and after Dec. 16, 2003, may also be eligible. Spouses of prisoners of war or service members missing in action may also be eligible for VA loans, as well.
- You meet the necessary requirements for credit and income to be eligible for a VA loan. It's important to note that while the VA doesn't set a minimum credit score for VA loans, individual lenders may have their own standards. In addition to credit, your lender will also evaluate your income and debts to assess your ability to repay the mortgage.
- The property you're interested in purchasing complies with the necessary safety standards and building codes. It's also worth mentioning that in most cases, the borrower is required to make the residence their primary home within 60 days of purchase. However, there are certain circumstances in which this timeline can be extended up to 12 months.
Follow These 5 Steps to Begin the VA Home Loan Process
Curious what the general steps are for purchasing a home with a VA loan? You're not alone. Keep reading to get a feel for what you have to do to enjoy the wonderful benefits of homeownership.
When applying for a VA home loan benefit, the Certificate of Eligibility (COE) is an important document that verifies your eligibility to your lender. If you have already used your VA loan benefit in the past, a current COE can help you determine how much remaining entitlement you have. Additionally, it can ensure that your entitlement has been restored for previous VA-backed loans that were paid in full.
After you've applied for your COE, it's a good idea to examine your finances. We're talking about items such as income, expenses, credit profile, and your monthly budget. That way, you know for sure that you're ready to purchase a home.
As a veteran, you have the choice of going through a bank, credit union, or a private VA mortgage company like Mission One Mortgage. Most lenders will have different loan interest rates and fees, so it's important to shop around. Remember - Mission One specializes in VA loans in Okaloosa, FL. Other lenders, such as large corporations and banks, often can't match the expertise and attention to detail that Mission One provides to veterans.
During this phase, it's a good idea to meet with a range of real estate professionals. Try to choose an agent who has experience processing and overseeing VA loans. Once you select an agent, you can bring your lender's pre-approval letter to their office and begin shopping.
This is the best part of the VA loan process, other than getting the keys to your new home. When looking for a house, remember to look at homes within your price range and budget. Lean on your real estate agent, friends, and family for help in your search.
A Word of Advice from Mission One Mortgage
If you're thinking about buying a home, it's important to weigh the pros and cons of homeownership. While renting can provide flexibility and less responsibility for maintenance, it comes with the risk of rent increases, potential property sales, and uncertainty about security deposit refunds.
On the other hand, owning a home can offer relatively stable mortgage payments and an opportunity to build long-term wealth for you and your family. Before making a decision, it's crucial to determine your priorities, such as your monthly budget for mortgage payments and other expenses like transportation and childcare. Ultimately, only you can determine what's best for your housing and financial needs.
The Key to Homeownership Starts with a VA Loan in Okaloosa, FL
At Mission One Mortgage, we take immense pride in simplifying the mortgage process and ensuring that our clients experience minimal stress. We understand that navigating the world of mortgages can be daunting, which is why we are committed to making it as smooth as possible.
By choosing to work with us, you're not just getting a mortgage broker - you're selecting a partner who is devoted to your financial well-being and dedicated to helping you achieve your dream of homeownership. By working together, we can work through the VA loan process one step at a time.
That rings true for all of our clients, but especially the U.S. Veterans we serve. In fact, we specialize in VA mortgages and are proud to offer them to US Veterans, those on Active Duty, and their spouses. VA Loans are one of the best mortgages available, offering no down payment requirements, no PMI, and some of the most favorable rates and terms.
If you're ready to take the next big step in your life and provide stability for your family with a place to call home, contact our office today. You're closer to the dream of home ownership than you might think.
Want to know more?
Clarify your Queries Call Us Now! (843)822-5685
Latest News in Okaloosa, FL
Live updates on Wednesday | Winter storm in Okaloosa County: Roads, schools, forecast and more
Collin Bestorhttps://www.nwfdailynews.com/story/news/local/2025/01/22/snow-in-okaloosa-county-florida-live-updates-on-wednesday/77874903007/
(This story was updated to accurately reflect the most current information.)The winter storm continued to hit Okaloosa County on Wednesday, with cold temperatures and major safety concerns. "Icy conditions have caused dangerous driving conditions. Please remain off of the roads unless absolutely necessary," Okaloosa County government s...
(This story was updated to accurately reflect the most current information.)
The winter storm continued to hit Okaloosa County on Wednesday, with cold temperatures and major safety concerns. "Icy conditions have caused dangerous driving conditions. Please remain off of the roads unless absolutely necessary," Okaloosa County government said in a Wednesday morning Facebook post. Follow along here today for the latest updates.
Who's the fairest of them all?
Which snowman is best?
What kind of grouper is this?
A word from Waste Management in Destin area
“Because of lingering icy road conditions, WM must suspend service for Thursday. Makeup service for residential customers with once-per-week garbage will be pushed one day. For twice-per-week garbage customers, service will resume on their next service day," according to a news release from Waste Management.
"It is recommended that if residents are unsure of when their garbage will be recovered, they should leave their cart by the road until it is serviced. Because of the two-day suspension, we may run slightly behind in our recovery efforts. We appreciate everyone’s understanding throughout this weather event.”
Extreme Cold Warning
The National Weather Service has issued a Extreme Cold Warning for Okaloosa and Walton Counties from 9 p.m. Wednesday to 9 a.m. Thursday.
Officals warn that any snow that may have melted on Wednesday will refreeze Wednesday night, creating hazardous road conditions.
"Don’t be lulled into a sense of security in seeing the sun doing its job and thinking the roads will be clear when the snow melts," wrote Okaloosa County Public Saftey Director Patrick Maddox in an email. "It will re-freeze tonight. Be careful. If you don’t have to be on the road, don’t."
— Collin Bestor
Early voting window extended
Due to hazardous road conditions brought on by Winter Storm Enzo, Okaloosa County early voting locations will reopen on Friday, Jan 24 at 10 a.m. All early voting sites will be open on Saturday, Jan. 25 from 7 a.m. to 7 p.m.
— Collin Bestor
Snowball fight, photo on the snowy beach and more images from the snow!
Video coverage of the winter storm that socked Florida
Destin-Fort Walton Beach Airport update
According to the Destin-Fort Walton Beach Airport website, the airport will remain closed on Wednesday, with a planned reopening at noon on Thursday.
— Collin Bestor
School updates for Okaloosa & Walton counties
According to Okaloosa and Walton County School Districts updates, all schools will remain closed for the rest of the week. All schools and district offices are expected to resume normal operations on Monday, Jan. 27.
— Collin Bestor
Related story:Okaloosa, Walton Co. schools to remain closed until Monday due to unsafe road conditions
Road closures as of 9:30 a.m.
In Okaloosa County, the following roadways are closed:
In Walton County, no roadways are closed at this time.
Local officials say all roads should be treated as if they are iced over and urge drivers to use caution when traveling.
— Collin Bestor
Live blog from Tuesday:Winter storm hits Okaloosa County. Conditions, forecast, closings and more
Historic storm
Snowfall totals still are being compiled. But as of Tuesday night the Florida record for snow (3 inches, set in 1895) already had been shattered. The National Weather Service said 8.8 inches fell in Milton.
— Jim Little and Dinah Voyles Pulver
(This story was updated to add new information)
(This story was updated to add a photo or video)
Winter Storm Weather Information Closures and Information for Okaloosa
Staff Reportershttps://crestviewbulletin.com/winter-storm-weather-information-closures-and-information-for-okaloosa/
NewsOkaloosa County Public Safety staff is continuously monitoring the incoming winter storm and is in regular communications with all pertinent County departments and agencies. Please monitor official news and official agency communications. The County has compiled information from other agencies and stakeholders in Okaloosa County related to closures/information. If you have questions beyond what is listed, please reach out to that specific agency. This information is as of Monday, Jan. 20, 2025 at 4 p.m.OKALOOSA COUN...
News
Okaloosa County Public Safety staff is continuously monitoring the incoming winter storm and is in regular communications with all pertinent County departments and agencies. Please monitor official news and official agency communications. The County has compiled information from other agencies and stakeholders in Okaloosa County related to closures/information. If you have questions beyond what is listed, please reach out to that specific agency. This information is as of Monday, Jan. 20, 2025 at 4 p.m.
OKALOOSA COUNTY GOVERNMENT – https://myokaloosa.com/ – email: OCPIO@myokaloosa.com
ROADS – https://www.facebook.com/MyFDOTNWFL
ANIMAL CONTROL – https://www.paws-shelter.org/
Panhandle Animal Welfare Society (PAWS) will be closed Tuesday, Jan. 21-22. Animal Control Officers will be on call for emergencies and available to help residents find lost animals. 850-243-1525 ext. 106 – animalcontrol@paws-shelter.org
COLD WEATHER SHELTERS
South County: Open through Saturday Night (Sunday, January 19th through January 25th).
One Hopeful Place – https://www.facebook.com/OHPFWB
850-586-7879
1564 Percy L. Coleman Rd, Fort Walton Beach, FL 32547
Pickup location is located at 205 Shell Ave, starting shuttle service at 3:15 pm ONE trip will be made. Returning transportation will be the following morning at 8:00 am.
*Note: backpacks are allowed, however, no wagons, bikes or suitcases are allowed on the bus.
North County: Open through Saturday Night (January 19th-January 25th)
Crestview Area Shelter for the Homeless. – https://www.facebook.com/sleepinabed
850-398-5670
120 Duggan Ave, Crestview, FL.
OKALOOSA COUNTY SUPERVISOR OF ELECTIONS – https://www.govote-okaloosa.com/
Supervisor of Elections office and Early Voting will be closed both Tuesday, January 21st and Wednesday, January 22nd. Office hours and Early Voting are currently scheduled to resume at 7am, Thursday, January 23rd.
OKALOOSA COUNTY CLERK OF COURT – https://okaloosaclerk.com/
Okaloosa County Clerk’s office will be CLOSED on Tuesday & Wednesday, January 21 & 22. At this time, they are scheduled to re-open on Thursday, January 23rd.
SCHOOLS – Okaloosa County School District https://www.facebook.com/OkaloosaCountySchoolDistrict
School and extracurricular activities are canceled on Tuesday, January 21st and Wednesday, January 22nd. According to OCSD they expect school to resume on Thursday, January 23rd.
OKALOOSA TAX COLLECTOR – OkaloosaTax.com
All locations will be closed Tuesday, Jan. 21st and Wednesday, Jan. 22nd. Normal business hours will resume on Thursday, Jan. 23rd.
TRASH AND RECYCLING
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***All scenarios are contingent upon weather, road and bridge conditions and transfer station availability.***
WM residential service is scheduled to begin routes early Tuesday morning to get ahead of the winter storm. Wednesday service is currently scheduled for a late start. This is based on today’s forecast but could change. In the event our trucks can’t run, make up service for residential customers with once-per-week garbage will be pushed one day. For twice-per-week garbage customers, service will resume on their next service day.
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1ST JUDICIAL CIRCUIT OF FLORIDA – https://www.firstjudicialcircuit.org/
The Courts will be closed Tuesday, January 21 and Wednesday, January 22 in Escambia, Santa Rosa, and Okaloosa Counties. Walton County Courts will be open until noon on Tuesday, and will be closed Tuesday afternoon and Wednesday, January 22. More information will be posted when available at firstjudicialcircuit.org
Winter storm in Okaloosa County: Schools closing, road info, snow outlook and forecast
Northwest Florida Daily Newshttps://www.nwfdailynews.com/story/news/local/2025/01/20/okaloosa-county-school-disctrict-closured-snow-ice-bridges/77834964007/
(This story was updated to accurately reflect the most current information.)The winter storm has caused major closures in Okaloosa County.There will be no school on Tuesday or Wednesday. Okaloosa County administration will close all non-essential administrative offices on Tuesday and Wed...
(This story was updated to accurately reflect the most current information.)
The winter storm has caused major closures in Okaloosa County.
There will be no school on Tuesday or Wednesday. Okaloosa County administration will close all non-essential administrative offices on Tuesday and Wednesday. Also, Tuesday's county commission meeting has been canceled.
State of Emergency:Gov. Ron DeSantis declares state of emergency ahead of winter weather
Is school canceled in Okaloosa County because of the winter storm?
School is canceled on Tuesday and Wednesday.
"We expect school to resume on Thursday, January 23rd, but will continue to monitor weather conditions to ensure it is safe. Communication about Thursday will be provided through district callout, text message, website, and social media accounts," the district said in a Facebook post.
Extreme cold watch in effect for Okaloosa County
The National Weather Service has placed Okaloosa County under an Extreme Cold Warning from 9 p.m. Monday until 10 a.m. Wednesday. "Dangerously cold wind chills as low as 5 above expected," the NWS said.
Okaloosa County also is under a Winter Storm Warning from 6 a.m. Tuesday until 6 a.m. Wednesday.
"Accumulating snow is expected and could be heavy at times. Total snow accumulations between 1 and 3 inches," the National Weather Service wrote in its advisory. "Roads, and especially bridges and overpasses, will likely become slick and hazardous. Plan on slippery road conditions. The hazardous conditions could impact the Tuesday morning and evening commutes."
On Monday, Okaloosa County Public Safety Director Pat Maddox issued an advisory. "Temperatures will remain bitterly cold through Thursday afternoon," he wrote. Snow could begin Tuesday morning with accumulation expected between noon and 6 p.m.
Related coverage:Florida on the cusp of a winter storm of the centuries: Will snow or ice prevail?
"Conditions will be breezy as the snow falls with gusts 20-30MPH. Right now there is a 70%-90% chance of frozen precipitation in our area, mainly in the form of snow, but sleet can be possible along the immediate coast," Maddox wrote.
What can Okaloosa County expect in terms of snow?
"Chances of 2-4” of snow in parts of Okaloosa, not only north of I-10 but expanding some distance south of that area on Tue/Tue night, is 70% as of right now, and will likely change up or down with coming updates," Maddox wrote Monday. "Accumulations of snow south of I-10 are predicted to increase in tonight’s update. Higher totals possible in the heaviest snow band."
Are bridges closed? What about the roads?
"DOT de-icing operations (chloride salts and ethylene glycol) are prepped for bridges, overpasses, state roads," Maddox wrote in an advisory on Sunday. "County public works crews are prepped for sand spreading in local areas if necessary."
"Okaloosa County Public Works crews will use sand on county-maintained roads if necessary. There are currently no road or bridge closures planned ahead of the storm. Conditions will be monitored," county government said Monday evening in an advisory.
Earlier coverage:The severe cold weather is coming. How will Okaloosa County fare? Here's what we know
Related coverage:Freeze warning, cold advisory? Be familiar with these official winter weather terms
How cold will it get?
Monday's high temperature in Fort Walton Beach is expected to reach 43 degrees, with a low of 26, according to the National Weather Service. On Tuesday the high will be 35 and the low 19. On Wednesday the high will be 37 and the low 24.
Will Okaloosa County government be closed because of the winter storm?
Administration offices will be closed Tuesday and Wednesday, according to a spokesman.
Will Animal Control be closed?
Panhandle Animal Welfare Society (PAWS) will be closed Tuesday and Wednesday. For emergencies and help finding lost animals, call 850-243-1525, ext. 106 or email animalcontrol@paws-shelter.org
Will there be shelters open in Okaloosa County?
Yes, there are two. Both are open through Jan. 25, according to a county government advisory.
"Pickup location is located at 205 Shell Ave., starting shuttle service at 3:15 p.m. One trip will be made. Returning transportation will be the following morning at 8 a.m.," county government said in the news advisory.
Will the landfill be closed?
Wright Landfill will be closed Tuesday and Wednesday; same for Household Hazardous Waste
Will the courts be closed?
The 1st Judicial Circuit will be closed Tuesday and Wednesday in Escambia, Santa Rosa and Okaloosa counties. Walton County Courts will be open until noon Tuesday, then closed for the afternoon and all day Wednesday, according to county government.
(This story was updated to add new information)
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