Do I need to be stationed near St. Augustine to use a VA loan there?

No — VA loan eligibility is tied to your service record, not your current location. Any eligible veteran, active-duty member, or qualifying surviving spouse can purchase in St. Augustine using their VA benefit regardless of where they're stationed or which state they live in.

What is the VA funding fee for a St. Augustine purchase in 2026?

On a $412,000 St. Augustine purchase with 0% down (first VA loan use), the funding fee is 2.15% ($8,858), which rolls into the loan. With 5% down it drops to 1.5% ($6,180); with 10%+ down it's 1.25% ($5,150). Veterans with a service-connected disability rating of any level pay $0 funding fee. Surviving spouses also pay no funding fee.

How does VA compare to FHA for a $412,000 home in St. Augustine?

VA 0-down: $0 down, no monthly MIP, estimated PI of $2,625/mo (funding fee rolled in). FHA 3.5% down: $14,420 down, $182/mo MIP, total $2,738/mo. VA saves approximately $113/month. Over 30 years that's $40,680 in MIP savings alone — plus you keep $14,420 in cash at closing.

VA Loans · Florida

VA Home Loans in St. Augustine, FL

With 11.8% of residents having served, St. Augustine has a strong veteran community well above the national average.

Down Payment

VA Loan Amount

$420,858

Monthly P&I

$2,625/mo

vs. FHA

Save $113/mo

BAH Coverage in St. Augustine

E-5 with Dependents

$2,220/mo BAH — covers ~74.6% of estimated housing costs

E-5 BAH at $2,220/mo covers approximately 74.6% of estimated monthly housing costs in St. Augustine. Senior NCOs and officers (E-6 through O-5) see full or near-full coverage.

Base proximity: NAS Jacksonville — 38 miles

VA Funding Fee — St. Augustine

Down Payment	Funding Fee	Amount
0% down (first use)	2.15%	$8,858
5% down	1.50%	Lower fee
10%+ down	1.25%	Lowest — no MIP ever

Disabled veterans with a service-connected rating may be exempt from the funding fee entirely. Surviving spouses of service members who died in the line of duty are also exempt.

Income to Qualify

To comfortably afford a VA loan in St. Augustine, lenders typically look for $83,023/year gross income (28% front-end DTI on a $420,858 loan). VA is more flexible than most programs — residual income and compensating factors let some buyers qualify with lower income.

Veteran Population

An estimated 11.8% of St. Augustine residents are veterans. With 11.8% of residents having served, St. Augustine has a strong veteran community well above the national average.

Frequently Asked Questions

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