VA Loan
VA Loans
You served. Now let us help you use one of the most powerful home loan benefits available to veterans and active duty service members.
Smart Financing. Personal Service.
How It Works
What You Need to Know About VA Loans
VA loans are one of the most valuable benefits available to those who have served. They are designed to make homeownership more accessible and affordable for veterans and their families.
1
No Down Payment Required
Eligible borrowers can purchase a home with zero down, making it possible to buy without years of saving for a large down payment.
2
No Private Mortgage Insurance
Unlike conventional and FHA loans, VA loans do not require monthly mortgage insurance, which keeps your payment lower.
3
VA Funding Fee
Most borrowers pay a one time funding fee instead of monthly mortgage insurance. The amount varies based on your service history, down payment, and whether it is your first time using the benefit. Certain veterans are exempt.
4
Flexible Credit Guidelines
VA loans tend to be more forgiving than conventional loans when it comes to credit history, making them accessible to a wider range of borrowers.
Basic Eligibility Requirements
Service: Meets VA minimum service requirements
Certificate of Eligibility: Required to confirm VA entitlement
Credit Score: No VA minimum, lenders typically require 580 to 620
Debt to Income: Reviewed with VA residual income guidelines
Property: Primary residence only
Occupancy: Borrower must intend to occupy the home
Pros and Cons
Is a VA Loan Right for You?
For eligible borrowers, a VA loan is one of the best mortgage options available. Here is what makes it stand out and what to keep in mind.
The Advantages
- Zero down payment required in most cases.
- No private mortgage insurance ever.
- Competitive interest rates often lower than conventional loans.
- More flexible credit and income guidelines.
- Limits on closing costs that lenders can charge.
- Loan is assumable by a qualified buyer in the future.
The Tradeoffs
- Only available to eligible Veterans, service members, and surviving spouses.
- VA funding fee required unless exempt due to disability.
- Property must meet VA minimum property requirements.
- Some sellers are unfamiliar with VA loans which can complicate offers.
- Only available for primary residences.
- Certificate of Eligibility required before closing.
Who It's Best For
VA Loans Work Best For...
If you are eligible, a VA loan is almost always worth exploring first. The combination of no down payment and no mortgage insurance is difficult to match with any other loan program.
Active Duty Service Members
Service members currently on active duty who are ready to purchase a primary residence near their duty station.
Veterans Ready to Buy
Veterans who want to maximize their hard earned benefit and purchase a home with zero down and no mortgage insurance.
Surviving Spouses
Eligible surviving spouses of Veterans who want to take advantage of VA loan benefits to purchase or refinance a home.
Common Questions
Frequently Asked Questions
Straight answers to the questions we hear most often.
What is a VA loan?
A VA loan is a mortgage benefit available to eligible veterans, active duty service members, and surviving spouses. It is backed by the Department of Veterans Affairs and offers significant advantages over conventional financing.
Do I need a down payment for a VA loan?
In most cases no. Eligible borrowers can purchase a home with no down payment, which is one of the most valuable benefits the VA loan program offers.
Is there mortgage insurance on a VA loan?
No. VA loans do not require private mortgage insurance regardless of your down payment. There is a one time funding fee in most cases, which can be rolled into the loan.
Who is eligible for a VA loan?
Eligibility is based on your service history. Generally this includes veterans, active duty members, National Guard and Reserve members who meet service requirements, and eligible surviving spouses.
Can I use a VA loan more than once?
Yes. VA loan benefits can be used multiple times as long as you meet eligibility requirements and have remaining entitlement available.
Not Sure Where to Start?
Let's Figure It Out Together.
Whether you're ready to apply or just exploring your options, we're here to help. No pressure, no obligation, just honest guidance.