A home loan benefit built for eligible service members.
VA loans are guaranteed by the U.S. Department of Veterans Affairs and can provide eligible borrowers with favorable home-financing features.
Qualified borrowers may be able to buy with no down payment and no monthly private mortgage insurance. A VA funding fee may apply unless the borrower is exempt.
Eligibility is only the first step. Income, residual income, credit, property requirements and lender underwriting still determine final approval.
How It Works
Four steps to use your VA benefit.
We confirm eligibility early and keep the process organized.
1
Confirm Eligibility
Obtain or verify your Certificate of Eligibility and review entitlement.
2
Build the Pre-Approval
Review income, credit, debts and the monthly payment range that fits.
3
Property + Appraisal
The VA appraisal considers value and minimum property requirements.
4
Final Approval + Closing
Complete underwriting conditions, review final terms and close.
VA Advantages
Why eligible borrowers consider VA financing.
DOWN PAYMENT
No down payment may be required
Subject to eligibility, entitlement, lender approval and the purchase price relative to appraised value.
MORTGAGE INSURANCE
No monthly PMI
VA loans do not require conventional monthly private mortgage insurance.
CLOSING
Seller concessions may help
VA rules allow certain seller-paid costs and concessions within program limits.
REUSE
The benefit can be reusable
Entitlement can often be restored or reused depending on prior VA loan history and circumstances.
Important Details
What still matters in a VA file.
FUNDING FEE
A funding fee may apply
The amount depends on loan purpose, down payment and prior VA use; some borrowers are exempt.
RESIDUAL INCOME
Cash flow is reviewed
VA underwriting considers residual income in addition to debt ratios.
PROPERTY
Minimum requirements apply
The property must generally meet VA minimum property requirements.
OCCUPANCY
Primary residence
VA purchase loans are generally intended for a home the eligible borrower will occupy.
FAQ
Common questions.
Who is eligible for a VA loan?+
Eligibility is based on qualifying service history or status. A Certificate of Eligibility helps document the benefit, but lender underwriting is still required.
Is a VA loan always zero down?+
Zero-down financing may be available for qualified borrowers with sufficient entitlement, subject to appraisal and lender requirements.
What is the VA funding fee?+
It is a program fee that generally applies to many VA loans. Certain eligible borrowers are exempt, and the amount varies by transaction.
Can I use VA financing more than once?+
Often yes. Entitlement can be reused in many circumstances, depending on prior VA loan payoff and restoration or remaining entitlement.
