VA Loans in SW Florida - Fort Myers, Naples, Cape Coral

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This week I want to talk about the most misunderstood loan in the business. VA loans. I had two Veteran deals this week that both almost didn't happen because of bad information. More on that below.

If you take one thing from this email, let it be this: when a Veteran walks into your open house, you're holding the strongest offer tool in SW Florida. Most agents just don't know it yet.

VA appraisals stay with the Veteran borrower, NOT the property.

FHA appraisals stay with the property for 6 months.

Don't FHA the VA Buyers! 😉

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📊 Rates This Week

30-Yr Fixed Conventional
6.625%*
30-Yr Fixed FHA
6.0%*
30-Yr Fixed VA
6.125%*

Rates crept up this week after Tuesday's CPI report. Nothing dramatic. The Fed meets July 28-29 and the market's mostly sitting on its hands until then.

Notice the gap. VA is running about 1/2 a point below conventional right now,  Saving them $$$$.

*Sample national average rates as of July 17, 2026, for illustration only. Rates change daily and vary by credit score, loan amount, and scenario. Not a commitment to lend or a rate quote. Call me for live pricing on your buyer's exact scenario. Mike Steele NMLS #241787. *underwriting guildelines apply for Veteran to be approved iwth no money down

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VA Loans: The Agent's Secret Weapon

Real talk: a lot of listing agents still flinch when a VA offer comes in. That's a 2006 reflex. Today's VA loan closes on time, appraises fine, and gives your buyer more firepower than anything else on the menu.

Three things I'd tattoo on every agent's forearm:

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Two buckets of seller help. Standard closing costs have no seller cap. The 4% concession limit only applies to the extras, like paying off the Veteran's car loan or buying down the rate. Structure it right and your Veteran can walk in with $0 out of pocket.
✓
Tidewater is a safety net, not a threat. If the appraiser thinks value is coming in low, they have to say so before finalizing. We get 48 hours to send comps. Conventional deals would kill for that second chance.
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No loan limits with full entitlement. Your Veteran can buy in Naples or Fort Myers with $0 down at any price point*, as long as the income supports it. Yes, really. *some lenders may have overlays

Bottom line: stop fearing the VA appraisal and start loving the VA approval. When the listing agent pushes back on your Veteran's offer, send them this section. Or just send them me.



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🏆 Win of the Week (Double Feature)

So here's what happened. Two different Veterans, and both had been fed the same bad information.

Veteran #1 used his VA benefit years ago and thought it was one-and-done. It's not. The VA benefit is reusable, and in his case it was fully restored and ready to go.

Veteran #2 was told he could only have one VA loan at a time. Also wrong. He still had a VA loan on his current home, so we tapped his bonus entitlement. That's the second layer of the benefit most loan officers never even check. He's using his earned VA benefits to get into his next home while keeping the first loan in place.

The takeaway for you: if a Veteran ever tells you "I already used my VA loan," don't take that as a no. Have them call me. Five minutes with their Certificate of Eligibility and I'll tell you exactly what they're working with.

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💡 Tip of the Week

Here's something most agents don't know. Veterans with a service-connected disability rating are exempt from the VA funding fee. That's often 2-3% of the loan amount, gone. On a $400K purchase that can be $8K-$12K back in your client's pocket.

Ask every Veteran buyer one simple question: "Do you receive VA disability?" If the answer is yes, their deal just got a whole lot cheaper. That one question makes you look like a pro.

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The Loan Menu

One credit pull. 100+ wholesale lenders. I shop them all so your buyer doesn't have to.

★  VA & Luxury VA

★  FHA

★  Conventional

★  Second Home

★  DSCR (Investors)

★  Bank Statement

★  1099-Only

★  Non-QM Options

📱 Weekend? I Pick Up.

Showing homes to a Veteran this weekend and need a fast answer on entitlement, buying power, or structuring the offer? Call or text me. That's the whole point of working with a broker who actually answers.

(239) 571-6943

Let's get some Veterans into homes this month. They earned it.

Mike

Mike Steele NMLS #241787 | Edge Home Finance LLC, NMLS #891464

MikeSteeleLoans.com  |  (239) 571-6943

Proudly serving Cape Coral, Fort Myers, Naples, Punta Gorda, Lehigh Acres & all of Southwest Florida

Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval, underwriting, and program guidelines. Rates and terms subject to change without notice. VA loans available to eligible Veterans, service members, and surviving spouses; eligibility determined by the Department of Veterans Affairs.


Florida Fort Myers, FL

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