How to Qualify for a VA Loan (Without Getting Stuck in Bank Red Tape)
If you’re a veteran, active-duty military, or surviving spouse, the VA loan is hands-down the best mortgage option out there. Period.
But I’ve been in this game long enough to know a lot of people either:
Think it’s too good to be true
Got turned down by their bank and gave up
Or simply don’t understand how it works
Let me break it down in plain English and show you exactly how to qualify for a VA loan in Florida — especially if you're buying in Port St. Lucie or anywhere on the Treasure Coast.
👊 First, What’s a VA Loan?
A VA loan is a mortgage backed by the Department of Veterans Affairs. It’s a benefit you EARNED — and if used correctly, it can save you thousands.
Here’s what makes it awesome:
✅ $0 down payment (yes, really)
✅ No PMI (saves you hundreds per month)
✅ Flexible credit guidelines
✅ Competitive interest rates
✅ Can be used more than once
You still go through a lender, but the VA guarantees the loan — which gives us more room to work with people who might not fit in the typical “bank box.”
🗂️ Step 1: Are You Eligible?
Let’s get this out of the way. Here’s who qualifies for a VA loan:
90 consecutive days active duty during wartime
181 days during peacetime
6 years in the National Guard or Reserves
Surviving spouses of service members who died in service or from service-connected disabilities
If that’s you, you’re most likely eligible. We can help you pull your Certificate of Eligibility (COE) to confirm it — super quick, and part of the process when you work with me.
📋 Step 2: What Do Lenders Actually Look For?
Here’s where most folks get stuck — and it’s usually because a big-box bank told them they didn’t qualify.
Let’s be clear:
🚫 The VA does NOT have a minimum credit score requirement.
But here’s the catch: lenders do.
Most banks and retail lenders want to see a 620+ score. If you're under that, they’ll often just say no — and move on.
Here’s where working with a broker like me makes a huge difference.
I have access to multiple VA-approved lenders, and some of them will approve VA loans with scores in the 500s.
Yep, you read that right.
I’ve helped veterans with lower scores, recent credit challenges, and even past bankruptcies get approved — because I know which lenders to go to and how to structure the deal the right way.
Bottom line? Don’t disqualify yourself. Talk to someone who actually understands VA loans.
💼 Income & DTI: What You Need to Show
VA loans are pretty flexible when it comes to income, but lenders still want to see that you can afford the monthly payment.
Here’s what we look at:
Your current employment and income
Other monthly debts (car, student loans, credit cards)
Your debt-to-income ratio (DTI) — should ideally be under 41%, but we’ve gotten approvals higher with strong compensating factors
Residual income — this is unique to VA loans and helps make sure you’ve got enough left over after bills to handle life
If that sounds confusing, don’t worry. I’ll run the numbers for you and tell you exactly where you stand — no pressure, no guessing.
🧾 What You’ll Need to Apply
When you’re ready to move forward, here’s what we typically ask for:
COE (we’ll help you get it)
Recent pay stubs or LES
Last 2 years of W-2s or tax returns
2 months of bank statements
Photo ID
DD-214 (if you’re out of the service)
If you’re self-employed or have variable income, we’ll just need a bit more paperwork — but again, we’ll walk you through it step by step.
❌ Don’t Fall for These VA Loan Myths
I’ve heard just about every VA loan myth out there. Let’s set the record straight:
❌ “You can only use it once.”
Nope. You can use it multiple times, and even carry two VA loans at once in certain situations.
❌ “It takes longer to close.”
Not if you work with the right people. We close VA loans as fast (or faster) than conventional loans.
❌ “It’s only for single-family homes.”
Wrong again. VA loans can be used for duplexes, some condos, even new construction — if it’s a primary residence, we can make it work.
📍 Why This Matters in Port St. Lucie
The VA loan is especially powerful here in Port St. Lucie and the Treasure Coast. Why?
Home prices are still reasonable compared to other parts of Florida
There are lots of new construction options eligible for VA financing
Plenty of sellers willing to cover closing costs (which means you could move in with almost no out-of-pocket expense)
I’ve helped vets buy in Tradition, Torino, Verano, and all over the area — and I know what sellers and builders are offering right now.
🎯 Final Word: You Earned This — Don’t Let a Bank Tell You No
If you’ve served, this benefit is yours. Let’s make sure you use it the right way — and with someone who actually knows what they’re doing.
I’m a veteran. I’ve used a VA loan. And I’ve helped tons of local vets do the same.
📞 Want to talk?
I’ll pull your eligibility, run the numbers, and give you honest answers.
No pressure. Just straight-up help.
👋 Let’s Chat
📍 Emmett Dempsey
🏠 Treasure Coast Mortgage, LLC
📞 772-618-5058
📧 [email protected]
🌐 tcmortgage.com
NMLS #208522
Helping veterans and families own homes across Florida — one deal at a time.
