VA Loans

Zero down payment for those who served

What is a VA loan?

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and available to veterans, active-duty service members, National Guard and Reserve members, and eligible surviving spouses. The VA guaranty replaces the need for a down payment or monthly mortgage insurance, which typically makes it the lowest-cost financing available to anyone who qualifies.

Ideal for: Veterans, active-duty service members, Guard and Reserve members, and eligible surviving spouses — especially those who would otherwise be stretched by a down payment.

Key Benefits

  • No down payment required with full entitlement
  • No monthly mortgage insurance, ever
  • Rates typically below conventional pricing
  • Funding fee waived for veterans with a VA disability rating
  • No prepayment penalties
  • Streamlined IRRRL refinance available later

    • How VA Loans Work

    Confirm eligibility and entitlement

    Your Certificate of Eligibility (COE) proves service requirements are met and shows how much entitlement you have available. We can usually pull it electronically in minutes.

    Buy with no down payment

    Full entitlement means no down payment on most purchase prices, with no loan limit as long as you qualify for the payment.

    Pay a one-time funding fee

    The VA funding fee replaces monthly mortgage insurance. It varies by down payment and first or subsequent use, and it is waived entirely for veterans receiving service-connected disability compensation.

    Reuse or restore your benefit

    VA entitlement is not one-and-done. It can be restored after a sale or payoff, and in some cases used for a second property with remaining entitlement.

    VA Loans Requirements at a Glance

    Eligibility

    Service requirements met, COE on file

    Minimum down payment

    $0 with full entitlement

    Credit score

    No VA minimum; most lenders want 580–620+

    Mortgage insurance

    None

    Occupancy

    Primary residence

    What it costs

    Closing costs are similar to other loans, but the VA limits which fees you can be charged and lets sellers pay up to 4% in concessions plus normal closing costs. The funding fee is typically financed into the loan rather than paid at the table.

    Things to Consider

  • The VA funding fee applies unless you are exempt
  • Primary residence occupancy is required
  • VA appraisals include minimum property requirements
  • Some sellers are unfamiliar with VA offers — a strong pre-approval matters

    • VA Loans FAQs

    Is there a VA loan limit?

    Not for borrowers with full entitlement. Loan limits only come into play if you have used part of your entitlement and not restored it.

    How much is the VA funding fee?

    It depends on down payment and whether it is your first use. Veterans receiving service-connected disability compensation are exempt from the fee entirely.

    Can I use a VA loan more than once?

    Yes. Entitlement can be restored after you sell or pay off a VA-financed home, and remaining entitlement can sometimes fund a second purchase.

    Do VA loans require mortgage insurance?

    No. That single feature is usually worth hundreds of dollars a month compared with a low-down-payment conventional or FHA loan.

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