Home financing for those who have served

VA Loans for Veterans and Service Members

Mortgage benefits for veterans, service members who meet VA requirements, and certain surviving spouses.

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0% Down payment may be possible
No PMI Monthly private mortgage insurance
Reusable VA benefit

What is a VA loan?

A VA loan is offered by a private lender and partially backed by the U.S. Department of Veterans Affairs. This backing may provide favorable terms to homebuyers who meet VA requirements.

Who may qualify?

Veterans, active-duty service members, members of the National Guard or Reserve, and certain surviving spouses may qualify based on their service. A Certificate of Eligibility (COE) helps document your VA benefit.

Key features

  • A purchase with no down payment may be possible when the price does not exceed the appraised value and all other requirements are met.
  • No monthly private mortgage insurance is required.
  • Requirements may be more flexible than those of some other loans.
  • May be used to purchase a home you will use as your primary residence.
  • The benefit may be used more than once when the applicable rules are met.

VA funding fee

Many borrowers pay a one-time funding fee that helps support the program. The amount depends on the type of loan, the down payment, and whether the benefit has been used before. Some borrowers may be exempt because of a service-connected disability or other qualifying circumstances. If the fee applies, it can generally be added to the loan amount instead of paid in cash at closing. Financing the fee increases the loan balance and the interest paid over time. Our team can help you compare the two choices.

The home and the appraisal

The property must be a home you will use as your primary residence and pass a VA appraisal. The appraisal reviews value and certain minimum property requirements, but it does not replace a complete home inspection for the buyer.

The appraised value may affect whether a down payment is needed.

Money needed at closing

No down payment does not mean there are no purchase expenses. Closing costs, the appraisal, an inspection, deposits, and reserves may still apply. Certain costs may be negotiated with the seller, subject to applicable rules.

We can help you review the total cost before you make an offer.

From preparation to closing

Steps in the financing process

We can help you request your COE, understand the funding fee and closing costs, and move through each step with clear guidance. We’ll be with you every step of the way.

  1. 1Review your VA benefit and request your COE.
  2. 2Review your credit, income, and budget.
  3. 3Obtain a prequalification from an approved lender.
  4. 4Shop for a home you will occupy as your primary residence.
  5. 5Complete the application, appraisal, and loan conditions.
  6. 6Review the final documents and complete your closing.

Clear answers

Frequently asked questions

Do I have to be a first-time homebuyer?

No. The VA benefit may be used for a first purchase or used again when the applicable requirements are met.

What is a Certificate of Eligibility (COE)?

It is the document that confirms to the lender that you meet the service requirements to use the VA home loan benefit.

Does the VA set a minimum credit score?

The VA does not publish one universal minimum score for all VA loans, but the lender will evaluate your credit, income, and ability to repay under its own guidelines.

Can I buy a multi-unit property?

It may be possible to buy a property with up to four units if you occupy one unit as your primary residence and meet the other requirements.

Can I be exempt from the funding fee?

Some veterans, service members, and surviving spouses may be exempt. Your COE and supporting documentation will help confirm whether an exemption applies.

Let us help you explore your benefits

Our team can help you review your VA benefit and explain the financing process.

Call (561) 641-4663