Buy a home at a reasonable rate with a VA loan in Brevard, 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 Brevard, 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.

Va Mortgages Brevard, FL

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.

What are the Biggest Benefits of Having a VA Loan in Brevard, 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 Brevard, 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.

How 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 Brevard, 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.
 HomeReady Mortgages Brevard, FL

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.

 Home Ready Mortgages Brevard, FL

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 Brevard, 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 Brevard, 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 Brevard, FL

Treat your mom: Ideas for dining out on Mother's Day in Brevard

Mother’s Day is a time to celebrate the mother figure in your life and the busiest day of the year for many restaurants. Families will gather at Brevard venues to honor moth...

Mother’s Day is a time to celebrate the mother figure in your life and the busiest day of the year for many restaurants. Families will gather at Brevard venues to honor mothers of all kinds — you should reserve your spot today!

Since most restaurants are open on this day, we've curated a list of top buffets in Brevard County, as well as a few ideas to turn meals into an adventure on Mother's Day, May 11.

All-you-can-eat buffets

Djon’s Village Market, 249 Fifth Ave., Indialantic: Reservations open at 10 a.m. and the last seating is at 3 p.m. The rooftop, indoor tables and patio will be open for reservations. Offering classic brunch favorites, plus prime rib and a raw bar. Pricing for the buffet: Adults are $54.95 and Children under 10 are $29. Beverages, tax and tip are additional.

Frigate’s Waterfront Bar and Grill, 1120 N. Harbor City Blvd., Melbourne: Renowned for its brunch buffet, this Mother's Day from 9 a.m. to 4 p.m., Frigate’s will elevate its abundant offerings with premium stations, along with traditional brunch entrees. Pricing: $50 per adult and $19 per children 12 years old and younger. Children under 3 are free. Call 321-306-3800 or visit www.frigatesmelbourne.com.

Indian River Preserve Golf Club, 3950 Clubhouse Drive, Mims: Brunch will be offered from 10 a.m. to 2 p.m., with salad, hot food and dessert stations. Carving stations will feature salmon, beef and turkey. Pricing: $36 per adult and $16 per children ages 5-12. Call 321-385-2099. indianriverpreservegolfclub.com

The Landing Rooftop, 801 E. Strawbridge Ave., Melbourne: The restaurant atop the Hotel Melby will be serving a full buffet from 10:30 a.m. to 3 p.m. Enjoy a variety of entrees, including prime rib, salmon and grilled chicken breast, traditional brunch items, charcuterie and cheese boards and various desserts. Pricing: $69.95 per adults, with mimosas and house wine included, $29.95 per child 6 to 12 years old. Children under 5 are free. Tickets are available at Mother's Day Tickets via Eventbrite.

Snack and stroll with mom

Brevard Zoo, 8225 N. Wickham Road, Melbourne

Moms are treated to free admission to the Zoo on Mother’s Day. Grab a bite at Nourish 321 or pizza and sandwiches at Slice and have fun visiting the animals on Mother's Day. Parents must be accompanied by a paying child of any age and tickets can be purchased online or in person.

Rockledge Gardens, 2153 U.S. 1, Rockledge

From 11 a.m. to 4 p.m., stroll through the gardens and peruse the offerings of local artisans, with live music and mimosas You'll have your choice of various food vendors to fashion a picnic in the garden. All mother figures will receive a free 4" plant.

Get out on the water

Indian River Queen cruise, boarding from Cocoa Village: 90 Delannoy Ave, Cocoa

Enjoy brunch, as you cruise along the beautiful Indian River Lagoon with fresh pastries, biscuits and gravy, french toast bar and more. All aboard at 10:30 a.m. and set sail by 11 a.m. All three decks are open to enjoy. Tickets can be found at: Indian River Queen Riverboat Cruises.

Gator's Grill and airboat rides at Camp Holly, 6901 U.S. 192, Melbourne

From gator bites to burgers, they have indoor and outdoor seating on a large patio and pets are welcome. When finished with your meal, take an airboat ride to see the wildlife on the St. Johns River at Camp Holly. Call: 321-723-2179

Lone Cabbage Fish Camp and Twister airboat rides, 8199 State Road 520, Cocoa

Located on the St. Johns River, the fish camp offers airboat rides as part of a classic, "real Florida" experience. This is the place locals bring visitors to try frog legs, fresh gator and catfish. Call: 321-632-4199

Amber Olesen is FLORIDA TODAY's food and dining reporter. Reach her at aolesen@floridatoday.com.

Self Defense Through Tactical Shooting

Brevard County Sheriff’s Office is happy to offer a “Self Defense through Tactical Shooting & Decision Making” Course. This 8 hour course is designed to give civilians the opportunity to learn safe gun handling skills as well as the legal aspects of gun ownership. The course will be delivered in 4 parts:Upon completion of this course, you will receive a certificate as verification of training that satisfies the State training requirement to acquire your Concealed Weapons Permit from the State of Florida. You can ...

Brevard County Sheriff’s Office is happy to offer a “Self Defense through Tactical Shooting & Decision Making” Course. This 8 hour course is designed to give civilians the opportunity to learn safe gun handling skills as well as the legal aspects of gun ownership. The course will be delivered in 4 parts:

Upon completion of this course, you will receive a certificate as verification of training that satisfies the State training requirement to acquire your Concealed Weapons Permit from the State of Florida. You can contact the Florida Department of Agriculture and Consumer Services Division of Licensing at 850-245-5691 for further information about the permit process. Concealed Weapons Packets can also be picked up at your local precinct.

Requirements & Other Information

Must be 21 years of age or older and pass a background check.

Enroll by mailing the registration form and a $99.00 check or money order to:

Brevard County Sheriff’s Office,Attention: Career Development Unit700 Park AvenueTitusville, FL 32780.

You may not use the “pay online” option for this program.

Money is non refundable. Checks should be made payable to: Brevard County Sheriff’s Office.

Self Defense Through Tactical Shooting Registration Form

Your check and registration form must be received in our office no later than 10 days prior to class date to be enrolled. Once we receive your payment and registration information, you will receive confirmation of enrollment and directions to the firing range.

Upcoming Classes

2025 Class schedule

April 26 – FULL

More Dates Coming Soon

Self Defense Through Tactical Shooting & Decision Making-On STEROIDS

All applicants must take the original Self Defense through Tactical Shooting and Decision Making Course and provide a copy of your original certificate

Topics Covered: How to protect you and your family against violent criminals, Firearms Safety, Safe Handling/Manipulation of a Firearm.

How To: Reload quickly and safely, Shoot quickly and accurately, Draw from a holster or concealed carry purse, Shoot at moving targets, Shoot from a seated position, Defend yourself against multiple targets, MILO Simulator.

Self Defense Through Tactical Shooting On Steroids Registration Form

Upcoming Classes

May 10

If you have questions regarding either of these courses, please contact the Career Development Unit at (321) 264-5281.

Brevard County to issue burn ban as Palm Bay fire sends smoke over I-95

A burn ban is set to take effect Tuesday in Brevard County, Florida, following a vegetation fire in Palm Bay. The fire was located near St. Johns Heritage Parkway and Davis Lane, and smoke from the blaze was visible from Interstate 95 and surrounding local streets.The BriefPALM BAY, Fla. - On Tuesday, a burn ban will go into effect in Brevard County, where firefighters had been battling a fire on the south side of Palm Bay.'It's super dry out here'...

A burn ban is set to take effect Tuesday in Brevard County, Florida, following a vegetation fire in Palm Bay. The fire was located near St. Johns Heritage Parkway and Davis Lane, and smoke from the blaze was visible from Interstate 95 and surrounding local streets.

The Brief

PALM BAY, Fla. - On Tuesday, a burn ban will go into effect in Brevard County, where firefighters had been battling a fire on the south side of Palm Bay.

'It's super dry out here'

What we know:

A burn ban is set to take effect Tuesday in Brevard County, Florida, following a vegetation fire in Palm Bay.

The fire was located near St. Johns Heritage Parkway and Davis Lane, and smoke from the blaze was visible from Interstate 95 and surrounding local streets. Palm Bay Fire Rescue said crews were actively working to contain the flames.

Firefighters have confirmed that, as of now, no homes are threatened and there are no evacuation orders in place.

What we don't know:

It’s also unclear how many acres have burned or when the fire will be fully contained. No official timeline has been provided for how long the burn ban will remain in effect or what penalties may apply for violations.

The backstory:

Central Florida has been experiencing unusually dry conditions, prompting several counties, including Brevard, to implement burn bans. These measures are aimed at preventing wildfires sparked by controlled burns, fireworks, or open flames in vulnerable areas. In recent weeks, local fire departments have been on high alert due to a surge in brush fires across the region.

Big picture view:

The fire underscores the increasing threat of wildfires in Florida as drought conditions worsen. With more counties instituting burn bans, the region is bracing for a potentially dangerous wildfire season. Palm Bay, which includes growing residential developments, sits at a junction between urban sprawl and preserved natural land — making the area especially sensitive to fires caused by human activity.

What they're saying:

"It's super dry out here," said Sarah Kern. "All of the wood out here and everything… it was a fire waiting to happen."

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Cinco de Mayo: Best places in Brevard to celebrate

Cinco de Mayo, which means "Fifth of May," falls on a Monday this year, but that won't stop the celebrations happening around ...

Cinco de Mayo, which means "Fifth of May," falls on a Monday this year, but that won't stop the celebrations happening around Brevard. Many restaurants and bars are gearing up for a festive day filled with music, dancing, margaritas and delicious Mexican cuisine.

While it's a minor holiday in Mexico, Cinco de Mayo has become a major celebration in the United States, showcasing vibrant Mexican traditions and culture.

We've put together a list of the best spots in Brevard to join the festivities, with some venues celebrating all weekend long.

Bravo Taco, 1250 Garden Street, Titusville, 321-225-8445

Celebrate the day with $2.99 Coronas and Dos Equis and buy one get one margaritas. Satisfy your cravings with $7.79 taco specials, from 10 a.m. to 9 p.m.

Cantina Dos Amigos: 990 N. State Road A1A, Indialantic, 321-724-2183

They have planned an all-day party with DJ Fuego from 12 p.m. to 9 p.m., sip on $5 house margaritas, $4 domestic beers and plenty of other specials to celebrate.

Chaparral Mexican Grill: 1341 N. Cocoa Blvd., Cocoa, 321-576-9800

Featuring live music, a mechanical bull for those feeling brave, bounce house and face painting for the kids, Chaparral's will also have $6 house margaritas all day and plenty of raffles and prizes.

El Leoncito Mexican and Cuban Restaurant: 4280 S. Washington Ave, Titusville, 321-267-1159

Like their sister restaurant listed above, they go all out with the party starting at 5 p.m. with live music, a mechanical bull, bouncy house, face painting, and margarita and drink specials.

Fiesta Azteca of Suntree, 6765 N. Wickham Road, Melbourne, 321-255-2185

Starting at 10 a.m., Fiesta Azteca will have live music and DJ's all day, including the band Switch and a salsa band straight from Puerto Rico. Test your skills on the mechanical bull, bounce house and face painting for the kids, and food and drink specials galore.

La Marimba Cocina Mexicana, 411 Barton Blvd., Rockledge, 321-637-9607

From Saturday, May 3, to Monday, May 5, enjoy live music from local bands, including The Smoking Toads, along with DJ performances. Don't miss out on drink specials, special menu items and exciting giveaways.

Masa Taqueria Y Cantina, 445 Eau Gallie Blvd., Indian Harbour Beach, 321-610-1462

Starting their street party on Saturday, May 3, Masa will have DJ Ducati under the tent, chef's tasting of street tacos, nachos and elote and specialty tequilas, in addition to outdoor bars with margaritas, tequila flights and Mexican beers. The restaurant will carry the festivities through the weekend with their full menu and Cinco de Mayo specials.

If you choose to celebrate at home, Masa also has curbside pick-up for Cinco taco kits and margaritas to go.

Milpa Tacos Y Tortillas, 207 Brevard Ave., Cocoa, 321-631-1133

Starting May 3 and continuing until close on May 5, Milpa Tacos plans on celebrating all weekend long with live music including several bands and DJ Florida Manley, craft cocktails, plenty of margaritas and food and drink specials.

Sandbar Sports Grill, 4301 Ocean Beach Blvd., Cocoa Beach, 321-799-2577

They will be serving up $3.50 Coronas and $5 Modelo drafts. The three-pound burrito eating contest starts at 5 p.m. and the band Bullet Dodgers starts at 8 p.m.

Amber Olesen is FLORIDA TODAY's food and dining reporter. Reach her at aolesen@floridatoday.com.

A Walmart in Brevard is getting updated to be 'store of the future.' Find out which one.

...

A few dozen Florida Walmarts, including one in Brevard, are undergoing major renovations.

More than $1.6 billion has already been invested to transform the 34 Walmart locations into “stores of the future.” Nationwide, the plan includes remodeling 650 stores this year.

“The new stores will offer Walmart’s every day low prices and save customers time with convenient pickup and delivery options. Each new Neighborhood Market will create approximately 100 new jobs and are currently scheduled to open later this year,” Walmart said in a release.

Which Brevard Walmart is being transformed into a store of the future?

That would be the beachside Melbourne location at 1001 E. Eau Gallie Blvd.

Shoppers will notice new layouts with wider aisles, more products, larger signage, including digital displays, according to a company press release. Pharmacies will have a new private screening room and privacy checkout.

Areas for online pickips and deliveres also will be expanded. The "Stores of the Future" are also designed with sustainability in mind, the company said, including more energy-efficient equipment and lighting, lower-impact refrigerants and more.

How long will it take to renovate the Melbourne Walmart?

Company officials said renovations, which are already underway, should take a few months.

The store will not close while the update is in progress. It’s not clear exactly when the renovation will be complete due to construction schedules and other factors.

What Florida Walmarts are becoming “stores of the future?”

Spitzer is a Trending Reporter. She can be reached at MSpitzer@Floridatoday.com.

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