Current VA guidelines, updated from one source.
A handful of figures and the tables behind them decide most VA files, and all of them are here, drawn from one guideline source built on VA’s published rules: the down payment with full entitlement, the absence of mortgage insurance, the funding fee by first or subsequent use, the ratio guideline, and the residual-income table for the region.
100% financing with full entitlement
0% down is the program’s defining term: a buyer with full entitlement finances up to 100% of the lesser of price and value, the guaranty replaces the down payment, and the funding fee can be added on top of the loan rather than paid in cash.
No monthly premium, no upfront premium
A VA loan carries no mortgage insurance at full leverage, which FHA and conventional loans cannot say; the one-time funding fee, financed or paid at closing, is the program’s whole cost beyond the lender’s ordinary charges.
First use; 3.3% after first use; exempt for many disabled veterans
The funding fee is a one-time charge of 2.15% on a first-use purchase with less than five percent down and 3.3% on later uses; it drops with a larger down payment, can be financed into the loan, and is waived for the exempt groups listed below.
Residual income decides the file
Two tests, one guideline: the total-debt ratio is measured against 41%, and residual income is measured against the South table below for the household’s size. VA tells lenders the residual-income test carries more weight, which is why a modest ratio does not approve a thin budget.
| Loan type | Use | Down payment | Fee |
|---|---|---|---|
| Purchase or construction | First use | less than 5% down | 2.15% |
| Purchase or construction | First use | 5% to 9.99% down | 1.5% |
| Purchase or construction | First use | 10% or more down | 1.25% |
| Purchase or construction | After first use | less than 5% down | 3.3% |
| Purchase or construction | After first use | 5% to 9.99% down | 1.5% |
| Purchase or construction | After first use | 10% or more down | 1.25% |
| Cash-out refinance | First use | Any | 2.15% |
| Cash-out refinance | After first use | Any | 3.3% |
| IRRRL | Any | Any | 0.5% |
| Manufactured home (not permanently affixed) | Any | Any | 1% |
| Loan assumption | Any | Any | 0.5% |
| Vendee loan | Any | Any | 2.25% |
| Family size | Residual income |
|---|---|
| 1 | $441 |
| 2 | $738 |
| 3 | $889 |
| 4 | $1,003 |
| 5 | $1,039 |
| Each additional member, up to seven | + $80 |
Exempt from the funding fee: veterans receiving VA compensation for a service-connected disability, those eligible for it but receiving retirement or active-duty pay instead, surviving spouses receiving Dependency and Indemnity Compensation, service members with a pre-discharge claim rating, and active-duty service members who have received the Purple Heart. VA sets no minimum credit score; the wholesale programs behind these pages start at a 580 decision score and serve loan amounts up to $4,000,000, including loans above the conforming limit with full entitlement.
Refinances: cash-out to 100% loan-to-value after seasoning of 210 days and six payments with a net tangible benefit; rate-reduction refinances of an existing VA loan at a 0.5% fee without a VA appraisal. Current VA snapshot · updated October 1, 2026 · owner-occupied principal residences, one to four units · no VA loan limit with full entitlement · loans are assumable · no prepayment penalty · Lendmire is not affiliated with the Department of Veterans Affairs.
For informational purposes only. This is not a commitment to lend or extend credit, an offer, or a quote. Program parameters shown are VA guidelines and wholesale lender overlays, are subject to change without notice, and every figure depends on the borrower, the entitlement, the property, the selected program, and full underwriting. Lendmire is a mortgage broker, not a lender, and is not affiliated with or endorsed by the Department of Veterans Affairs. Licensed in sixteen states for consumer mortgages. NMLS #2371349.
What a VA loan is — and how the file is qualified.
Every Delray Beach VA file has the same skeleton: a certificate that proves eligibility, an entitlement figure that sets how much VA will back, a funding fee that pays for the backing or is waived, and an underwriting test that reads the household’s leftover income. The cards below explain each bone.
For the program overview, see Lendmire’s VA loan program, or the statewide guide at VA Loans in Florida; to request a Certificate of Eligibility, see VA.gov.
The guaranty replaces the down payment
Because VA backs part of every loan, the lender’s risk on a Delray Beach purchase is closer to a loan with a large down payment than to a high-leverage conventional loan. The program passes that difference to the borrower as no down payment, no mortgage insurance, and a cap on the fees a veteran can be charged.
Eligibility, entitlement, and the COE
The Certificate of Eligibility is the document that opens the file. It states the entitlement available, whether the funding fee is waived, and any prior use of the benefit. A Delray Beach lender can usually pull it within the VA system from a DD-214 or a statement of service, and VA.gov issues it directly as well.
The funding fee, and who is exempt
The fee scales with use and with the down payment: a first use with nothing down pays the base tier, a later use pays more, and five or ten percent down lowers either. Financed, it adds to the loan balance rather than the cash to close, which is the usual choice on a Delray Beach purchase; a veteran receiving, or eligible to receive, compensation for a service-connected disability pays none of it.
Residual income over ratios
The ratio VA names is a guideline; the residual-income table is the standard. A Delray Beach file above the ratio can be approved when residual income clears the table by a fifth or more, and a file below the ratio can still be declined when residual income falls short, which is the reverse of how FHA and conventional loans read a budget.
Change any of it in the calculator below: the Delray Beach price, a down payment if you want one, the fee tier, the term, the rate, and the escrows. VA supplies the fee table, the ratio guideline, and the residual-income figures; the payment is simply what those produce.
Where Delray Beach’s veterans and service members buy — and how VA fits.
A VA loan is sized against a local market, and these are Delray Beach’s numbers from the U.S. Census Bureau: how many households own, what a typical home is worth, and what households earn. They set the scale of the funding fee and the payment before any file is written.
Market context only. Two veterans with identical entitlement can see different files here: one buying at the median clears the residual-income table with room, another stretching above it needs the ratio justified. The market sets the spread.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Delray Beach neighborhoods, distinct VA files.
Six Delray Beach submarkets, six versions of the same program: the cards below describe the housing stock, the price range, and the VA question that comes up most often in each.
Condominiums and townhomes
Close-in Delray Beach condominiums suit the benefit well: nothing down, no insurance line, and a project review that runs through VA’s approved-project list. The dues go into the residual-income math, and the appraisal covers the project along with the unit. About 37% of Delray Beach’s households rent — roughly 11,005 renter households on the latest Census estimate.
Established close-in neighborhoods
Condition carries weight in Delray Beach’s established neighborhoods. The appraisal lists what VA wants fixed, the contract decides who fixes it, and the Notice of Value is issued once the value and the condition are settled. On a home at Delray Beach’s median value, a VA purchase with full entitlement needs no down payment at all — the funding fee on the full $420,300 is the program’s cost, and it can be financed.
Higher-value homes
On Delray Beach’s higher-value homes the VA loan’s reach shows: with full entitlement there is no down payment above the conforming limit, up to the maximum loan amount shown in the guidelines above. The credit floor is the lender overlay, and the file is qualified on residual income. Median household income in Delray Beach sits near $82,041 on the latest Census estimate.
Two-to-four-unit homes
Delray Beach duplexes and small apartment houses are VA purchases with nothing down when the veteran occupies one unit. VA counts rent from the other units under its own rules, which can require landlord experience or reserves. Roughly 18,928 Delray Beach households own their homes on the latest Census estimate — 63% of all households, the pool a VA purchase joins.
Service members and the occupancy rule
A service member buying within commuting range of an installation uses the benefit as designed: no down payment, an occupancy certification with allowances for deployment, and the option to keep the home as a rental on the next set of orders without refinancing. Delray Beach is home to about 68K people and sits within the Miami-Fort Lauderdale-West Palm Beach, FL area.
Newer infill and recent construction
On recent construction in Delray Beach the appraisal rarely raises findings and the arithmetic is the issue: does residual income clear VA’s table once the funding fee is financed into a larger loan, and does the certificate show full entitlement at that amount. The median owner-occupied home value in Delray Beach runs near $420,300 on the latest Census estimate.
Neighborhood sets the price and the property type; VA sets the rest. The guaranty, the funding fee, the ratio guideline, and the residual-income table apply identically on every Delray Beach file, and full entitlement carries no loan limit anywhere in the county.
Four ways Delray Beach veterans put the VA benefit to work.
A good use of VA is one the program’s shape fits: no down payment, no mortgage insurance, residual-income underwriting, and a guaranty that scales with the loan. Four common Delray Beach uses follow.
Refinance an existing VA loan
An existing VA loan in Delray Beach can be refinanced on its own record: the IRRRL skips the appraisal and most of the documentation, carries the smallest funding fee in the program, and must leave the borrower better off under VA’s net tangible benefit rules.
Buy a small multi-unit home and live in one unit
A Delray Beach duplex, triplex, or fourplex becomes a VA purchase the moment the buyer commits to occupying one unit. The guaranty covers the loan the same way it covers a house, and the other units’ rent is documented toward the ratios and residual income the way VA permits.
Buy a first home with nothing down
For a first purchase in Delray Beach, VA pairs no down payment with no mortgage insurance and a residual-income test that reads the whole household budget; the file closes on the certificate, the appraisal, the income, and the funding fee tier.
Take cash out of a home with equity
Cash-out on VA is a full refinance of the first mortgage at the leverage in the snapshot, after the later of the seasoning period or the required payments, with the funding fee at the cash-out tier. A Delray Beach owner weighs it against a home equity line, which keeps the existing first mortgage in place.
Estimate the VA payment on a Delray Beach price before requesting a quote.
The program’s own math on your Delray Beach inputs: price less any down payment, plus the financed fee, amortized at the benchmark, with escrows added and nothing for mortgage insurance. The actual rate, payment, and costs come in writing from a licensed loan officer.
Delray Beach VA payment estimate
Price starts from a Delray Beach value, with no down payment; fields update as you type.
Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a VA loan quote.
Illustrative starting assumptions: a $420,000 price near Delray Beach’s median owner-occupied home value, no down payment with full entitlement, a first-use funding fee financed into the loan, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for Florida (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not a VA loan quote; your rate is set by the lender at lock. The funding fee follows VA’s published table for the use and down payment entered; the residual-income figure is VA’s guideline for the region and family size, and the rough residual shown subtracts only the housing payment and the debts entered, while VA also deducts taxes, maintenance and utilities. Taxes, insurance and dues are editable estimates; closing costs are not included. Licensed in sixteen states for consumer mortgages. Lendmire is not affiliated with or acting on behalf of the Department of Veterans Affairs.
Same veteran, three very different closings.
The alternatives put VA’s cost in perspective: FHA charges a premium every month, conventional charges one until equity arrives, VA charges a fee once. The comparison below is written for a Delray Beach buyer weighing all three.
VA, FHA, or conventional.
VA fits nearly every Delray Beach buyer who holds eligibility: the leverage is complete, there is no insurance line in the payment, and the fee is paid once. Partial entitlement, a property that fails VA’s standards, or a fee tier that outweighs a short hold are the cases where another program competes.
FHA’s leverage is high and its credit standard is forgiving, but its insurance never comes off a full-leverage thirty-year loan. A Delray Beach veteran comparing the two sees the premium line in the FHA payment and nothing in that line on VA. See Lendmire’s FHA loan program.
Conventional is the comparison for a veteran with savings: with twenty percent down there is no mortgage insurance and no funding fee, and the payment can beat VA with a financed fee. Below that down payment, VA usually wins for a Delray Beach buyer. See Lendmire’s conventional loan program.
Which program fits best depends on the borrower’s numbers once eligibility is known. VA can come out ahead with a COE and full entitlement, conventional can for a veteran with twenty percent down and no fee exemption, and FHA is the fallback where the benefit is unavailable. The comparison is run on the actual numbers, in writing.
What to prepare for a Delray Beach scenario review.
What a lender reads on a Delray Beach VA loan, and what you can have ready before anyone asks.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, entitlement, and the income picture. Nothing here is legal or tax advice.
Local details that can change the loan.
When a Delray Beach VA file surprises someone, the cause is usually one of these: entitlement partly in use, a higher fee tier than expected, required repairs from the appraisal, a condominium without VA approval, or residual income below the table.
Use these checks to keep the Delray Beach file clean and fundable.
The list is short because the program is: entitlement, the fee, and the property decide most Delray Beach files before income is even opened.
- Confirm the entitlement: the COE states the entitlement available; full entitlement carries no loan limit.
- Know the fee: disabled veterans receiving compensation and the other exempt groups pay no fee.
- Mind the residual: residual income is measured against the regional table for the family size.
Full or remaining entitlement
Entitlement is full on a first use, and it is restored when an earlier VA loan is paid off and the home sold; it is partial when an earlier VA loan is still outstanding or was lost to foreclosure. A Delray Beach buyer with full entitlement has no loan limit; with remaining entitlement, the lender may require a down payment.
The funding fee tier and the exemptions
Financed, the fee raises the loan balance and the payment; paid at closing, it raises the cash to close; paid by the seller, it counts toward the concessions cap. Which is best on a Delray Beach file depends on the tier and on how long the home will be kept, and the loan officer shows all three ways side by side.
Residual income and the ratio guideline
Residual income is measured after the housing payment, other debts, taxes, and VA’s allowance for maintenance and utilities, against a table by region and family size. A Delray Beach household must meet the figure for its size, and a ratio above VA’s guideline needs residual income well above the table or a documented justification.
Credit, seasoning, and the prior VA loan
Each waiting period is VA’s own, and the recent housing record carries the most weight. A foreclosure on an earlier VA loan adds a second question for a Delray Beach veteran: the entitlement used on that loan stays used until the loss is repaid, leaving remaining entitlement for the new purchase.
The VA appraisal and the Notice of Value
When the value comes in under the contract price on a Delray Beach file, VA’s process gives the appraiser a chance to weigh additional sales before the Notice of Value is final, and the escape clause lets the buyer walk away with the deposit if the gap cannot be closed. Repairs the appraiser requires are usually completed before closing.
From a Delray Beach Certificate of Eligibility to keys in hand.
Underneath, the Delray Beach process is any mortgage process; on top sit VA’s checks: the certificate, the property requirements, the project approval where it applies, and the residual-income test. Each step below says what happens and what the buyer does.
COE and pre-approval
A Delray Beach pre-approval is a sizing exercise: the certificate, the income, the family size, the funding fee tier, and the price. The loan officer confirms eligibility and entitlement against the program rules and puts the pre-approval in writing for the offer.
Contract and appraisal
The appraisal is the VA step that surprises buyers most: it reports on condition as well as value, and a low value opens VA’s reconsideration process before the figure is final. Required repairs are negotiated with the seller, and the Delray Beach contract is adjusted or released under the escape clause.
Underwriting
Underwriting on a Delray Beach VA file reads the whole picture: the entitlement on the certificate, the housing payment history, the seasoning of any derogatory event, and the residual income after VA’s deductions for taxes and upkeep. Conditions are issued, documented, and cleared before the approval is final.
Closing
Closing is where the fee becomes real: financed into the total loan or paid at the table, with the seller’s concessions applied and the fees a veteran may not pay removed from the sheet. The Delray Beach buyer takes the keys and VA backs the lender.
A brokerage that puts the benefit to work.
The case for a brokerage on a VA loan is candor with numbers: VA beside conventional on the same inputs, the fee tier stated outright, the entitlement checked first, and the terms in writing.
Three programs, one set of numbers
Before any recommendation, VA, FHA, and conventional are run on the same Delray Beach price, income, and down payment. The buyer sees the payment, the insurance or fee line, and the cash to close for each, and the choice follows the figures.
The fee and the entitlement explained before the offer
The certificate fixes two things a buyer should know before signing a contract: the funding fee tier and the entitlement available. Lendmire states both for the Delray Beach purchase and explains the exemption and the refund rules where they apply.
Licensed, consumer-purpose, in writing
Lendmire carries the license for the state the Delray Beach home is in, delivers the disclosures a consumer mortgage requires, and commits the terms to paper. The program figures on this page are read from one guideline source built on VA’s published rules.
Trusted by veterans & families alike.
Delray Beach VA loan FAQs
The questions below come up on nearly every Delray Beach VA conversation. The answers are general; the figures in the snapshot above are the program’s current parameters.
What is a VA loan, and who is it for?
A VA loan is a mortgage from a private lender with a partial guaranty from the Department of Veterans Affairs: VA backs a share of the loan, and in exchange the program allows no down payment with full entitlement, no monthly mortgage insurance, a residual-income test, and a cap on the fees a veteran can be charged. It is for veterans, service members, National Guard and Reserve members, and eligible surviving spouses buying a principal residence in Delray Beach.
Who is eligible for a VA loan in Delray Beach?
The requirements depend on when and how you served, and VA publishes them by era. A Delray Beach loan officer can check the service record against them in a few minutes, and the Certificate of Eligibility is the official answer.
How do I get a Certificate of Eligibility?
Most Delray Beach buyers let the lender pull it: with a DD-214 or a statement of service, the lender can often obtain the certificate from VA’s system during the first conversation. VA.gov issues it online as well, and VA Form 26-1880 by mail is the slowest route.
What is the VA funding fee, and do I have to pay it?
The funding fee is a share of the loan paid once, with the amount set by VA’s table in the snapshot; it is waived for several groups and refundable when a disability rating is granted retroactively. On a typical Delray Beach purchase it is financed, so it raises the balance rather than the cash to close.
Is there a VA loan limit in Delray Beach?
VA removed the loan limit for veterans with full entitlement; the wholesale programs behind these pages serve loan amounts up to the ceiling in the snapshot. Only a Delray Beach buyer with entitlement still in use on another loan needs the county figure, and it is confirmed by a loan officer rather than quoted here.
Can the seller pay my closing costs on a VA loan?
Yes. The seller may pay ordinary closing costs without limit, and may pay concessions such as prepaid items, the funding fee, and payoff of the buyer’s debts up to VA’s cap as a share of the value. VA also bars certain fees from being charged to the veteran at all, so the contract and the fee sheet are reviewed together.
Can I take cash out with a VA refinance?
A VA cash-out refinance replaces the first mortgage with a larger VA loan at the leverage in the snapshot, after the seasoning rule and with a net tangible benefit. A Delray Beach owner weighs it against a home equity line, which keeps the existing first mortgage in place.
Does a VA loan have mortgage insurance?
Not at any loan-to-value. FHA charges an upfront and an annual premium, conventional charges private mortgage insurance until equity grows, and VA charges neither; the funding fee is paid once.
What happens after my Delray Beach offer is accepted?
Your Delray Beach contract goes to the lender, VA assigns the appraiser, and underwriting follows the Notice of Value. The usual detours are required repairs or a value under the price, which VA’s reconsideration process and the escape clause are built for; a loan officer keeps the timeline honest.
Is a VA loan assumable?
VA loans are assumable with lender approval of the new borrower. The feature costs nothing at origination and can matter years later; the one caution is entitlement, which stays in use unless the assuming veteran substitutes theirs.
Run the Delray Beach VA numbers, then get the terms in writing.
A Delray Beach VA purchase starts with three questions: eligibility, the fee, and the price. Lendmire answers them, compares the programs, and writes up the one that fits.
This guide covers Delray Beach — for the statewide guidelines, markets, and scenarios, see VA Loans in Florida, part of Lendmire’s VA loan program.
Nearby markets in Florida: Boynton Beach · Boca Raton · Deerfield Beach · Coconut Creek · Pompano Beach · Margate · Coral Springs · Wellington
Related programs: Conventional Loans · FHA Loans · Jumbo Loans