VA Loans
VA loans are a benefit for eligible veterans, active-duty service members, and certain surviving spouses, guaranteed by the U.S. Department of Veterans Affairs.
Who this may fit
- Eligible veterans and active-duty service members
- Buyers who want to purchase with little to no down payment
- Buyers who want to avoid monthly mortgage insurance
Typical advantages
- Down payments as low as $0 in many eligible scenarios
- No monthly private mortgage insurance
- Often competitive interest rate pricing relative to other programs
- Can be reused multiple times over a veteran's lifetime under the right circumstances
Potential drawbacks
- A VA funding fee typically applies (though it can be waived for some disability-rated veterans) — this fee changes periodically, so current numbers matter
- Property must meet VA minimum property requirements
- Requires a Certificate of Eligibility (COE) to confirm entitlement
Qualification considerations
- Eligibility is based on service history — length and type of service matters
- A Certificate of Eligibility is required before closing
- Underwriting still looks at credit, income, and debt-to-income, even though down payment requirements are relaxed
Down payment
Many eligible VA borrowers can purchase with no down payment at all, which is one of the program's signature benefits.
Mortgage insurance
There's no monthly mortgage insurance on VA loans — instead, most borrowers pay a one-time VA funding fee, which can often be financed into the loan.
Property considerations
The home must be your primary residence and meet VA minimum property requirements, which focus on safety, soundness, and sanitation.
When another program might make more sense
If you're eligible for VA, it's almost always worth comparing first — but for a second home or investment property, you'll need a different program since VA is primary-residence only.
Loan guidelines, limits, and mortgage insurance requirements change and vary by lender, credit profile, and property. Nothing on this page is an offer of credit or a guarantee of eligibility — it's a starting point for a real conversation about your specific situation.
VA FAQ
Do I have to be currently serving to use a VA loan?
No — eligibility extends to many veterans and certain surviving spouses, not just active-duty service members. We'd confirm your eligibility with a Certificate of Eligibility.
Is the VA funding fee always required?
Most borrowers pay it, but some veterans with a qualifying service-connected disability rating may be exempt. This is worth confirming directly.
Can I use a VA loan more than once?
In many cases, yes — VA entitlement can potentially be reused or restored. We can look at your specific entitlement situation.
Want to know if VA actually fits your numbers?
Let's look at your credit, cash, and income together and talk through real options.