Government Loans
USVI VA Loans100% Financing for Virgin Islands Veterans
The Virgin Bay Advantage
Honored to Serve Those Who Served
We are honored to serve the Veterans and active-duty military personnel of the Virgin Islands. VA loans have highly specific Minimum Property Requirements (MPRs). Stateside underwriters frequently panic when a USVI VA appraisal mentions a cistern or an OLG survey. Our in-house underwriting team understands these nuances perfectly, ensuring your VA loan closes smoothly and on time.
Local Expertise
Deep roots in the USVI market and an understanding of island properties.
In-House Underwriting
Every step under one roof for faster approvals and fewer delays.
Local Loan Servicing
We keep servicing your loan after closing, so you always deal with us.
How VA Loans Work in the Territory
Zero Down Payment
100% financing available for eligible Veterans.No Mortgage Insurance
Unlike FHA or low-down-payment conventional loans on the mainland, VA loans do not require monthly mortgage insurance (PMI), keeping your payment low.Competitive Local Rates
VA loans usually carry the most competitive rates in the territory.
Eligible Property Types
- Primary Residences only
- Single-Family Homes & Townhomes
- 2-4 Unit Multi-Family Homes (Must occupy one unit)
- VA-Approved Condos
VA Loan Limits
VA loan limits depend on whether or not a borrower has full entitlement or partial entitlement.
Full Entitlement
Borrowers generally have full entitlement if:
- They never used a VA loan, or
- They previously used a VA loan, fully repaid it, and restored their entitlement, or
- They sold the home tied to the prior VA loan benefit and restored their benefit
When you have full entitlement available, the VA does not set loan limits, however, your loan may be capped depending on qualifying factors such as income and debt.
Partial Entitlement
Partial entitlement usually applies if:
- They currently have an active VA loan, or
- They used a portion of their entitlement and have not restored it
With partial entitlement, the USVI VA loan limits below apply.
USVI VA Loan Limits (for Partial Entitlement)
| 1 Unit | 2 Unit | 3 Unit | 4 Unit |
|---|---|---|---|
| $1,873,675 | $1,599,375 | $1,933,200 | $2,402,625 |
VA Fees to Consider
The VA Funding Fee
While VA loans bypass traditional private mortgage insurance (PMI), they require a one-time funding fee at closing (ranging from 1.25% to 3.3% depending on your down payment amount and whether it's your first time using the benefit). This fee can be rolled into the total loan amount.Lender Underwriting
Even with "no limit" under full entitlement, you must still financially qualify based on your income, credit profile, and debt-to-income (DTI) ratio as outlined by Military.com's VA Loan Guide.
Put Your VA Benefit to Work
Talk with a local loan officer who knows the USVI market. We respond within 24 hours.
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1-340-714-0033
contact@virginbay.com
A2-7, Red Hook Quarters, 6100, No. 2 Suite, St. Thomas, 00802
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
1-340-714-0033
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
Get Started Today
Contact our team of experts for personalized advice. Guaranteed to respond within 24 hours.
Local, Experienced, Trustworthy Advice For The USVI Mortgage Market
Loan Programs
Location & Hours
6100 Red Hook Quarters
Suite A2-7
St. Thomas, VI. 00802
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
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