VA Loans
VA loans offer 0% down payment and no mortgage insurance for eligible veterans, active duty service members, and surviving spouses. Backed by the Department of Veterans Affairs, these loans provide lower interest rates, more flexible credit requirements, and can be used multiple times throughout your lifetime.
If you have ever served in any branch of the U.S. military, including as a Reserve, National Guard, or Coast Guard, you are likely eligible for a Veterans Administration Loan (VA loan).
Even if you have already used your loan benefits in the past, we can assist in restoring your entitlement so you can buy a home or refinance again.
Advantages of a VA Loan?
- No down payment is required in most cases for Purchases.
- Loan maximum may be up to 100 percent of the VA-established value of the property.
- No monthly mortgage insurance premium to pay.
- VA loans are assumable on sale or transfer.
- Limitation on buyer's closing costs.
- An appraisal which informs the buyer of property value.
- Thirty year loans with a choice of repayment plans:
- (1) Traditional fixed payment: Constant principal and interest; increases or decreases may be expected in property taxes and homeowner's insurance coverage.
- (2) Hybrid ARM product: Newly offered by the VA so you may choose between a fixed rate or an adjustable rate.
People Also Ask
Can I get a VA loan with bad credit?
Yes. While most lenders prefer 620+, VA loans have no minimum credit score requirement set by the VA. We work with veterans who have credit scores in the 500s and can help you find lenders with flexible guidelines for service members.
Do I need a Certificate of Eligibility for a VA loan?
Yes, but we can help you obtain it. The COE confirms your military service qualifies you for VA benefits. We can typically get your COE within 24-48 hours through the VA's online portal, or we can request it by mail if needed.
Can disabled veterans avoid the VA funding fee?
Yes. Veterans with a service-connected disability rating are completely exempt from the VA funding fee. This can save thousands of dollars at closing. Purple Heart recipients and surviving spouses also qualify for the exemption.
What is the VA loan limit in 2025?
There is no maximum loan amount for veterans with full entitlement. However, loans over the conforming limit ($806,500 in most counties for 2025) may require a down payment unless you have bonus entitlement. We'll help you calculate your available entitlement.
VA Loan Key Terms
- COE (Certificate of Eligibility)
- Official VA document confirming your military service qualifies you for VA loan benefits. We can obtain this for you electronically in 24-48 hours or request by mail if needed.
- VA Funding Fee
- One-time fee (1.25%-3.3% of loan amount) that helps keep the VA loan program running. Can be financed into your loan. Veterans with service-connected disabilities are exempt.
- Entitlement
- The amount the VA guarantees on your loan, allowing 0% down payment. Basic entitlement is $36,000, with additional entitlement available for loans over $144,000. Full entitlement allows borrowing with no limit.
- Residual Income
- Money left over after paying all debts and living expenses. VA requires minimum residual income based on family size and region to ensure you can afford the home comfortably.
- VA Streamline Refinance (IRRRL)
- Interest Rate Reduction Refinance Loan allows current VA loan holders to refinance quickly with minimal documentation, no appraisal, and reduced closing costs.
VA Loan Eligibility Requirements
Veterans who served on active duty and were discharged under conditions other than dishonorable, during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days service. Veterans with service only during peacetime periods and active duty military personnel must have had more than 180 days active service. Veterans of enlisted service which began after September 7, 1980, or officers with service beginning after October 16, 1981, must in most cases have served at least 2 years of continuous active duty or the full period (at least 181 days) for which you were ordered or called to active duty and been discharged under conditions other than dishonorable, or have completed at least 181 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1171 (Early out), or have been determined to have a compensable service-connected disability; or have been discharged with less than 181 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances for the convenience of the Government.
If you served on active duty during the Gulf War, you must have completed 2 years of continuous active duty or the full period (at least 90 days) for which you were called or ordered to active duty, and been discharged under conditions other than dishonorable; or completed at least 90 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1173 (Early out), or have been determined to have a compensable service-connected disability, or have been discharged with less than 90 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances, for the convenience of the Government.
Current Active Duty
If you are now on regular active duty (not active duty for training), you are eligible after having served 181 days (90 days during the Gulf War) unless discharged or separated from a previous qualifying period of active duty service.
National Guard/ Reserves Service
If you are not otherwise eligible and you have completed a total of 6 years in the Selected Reserves or National Guard (member of an active unit, attended required weekend drills and 2-week active duty for training) and were discharged with an honorable discharge; or were placed on the retired list; or were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable service; or continue to serve in the Selected Reserves. Individuals who completed less than 6 years may be eligible if discharged for a service-connected disability. Eligibility for Selected Reservists expires 09/30/2009.
Spouses of Veterans
You may also be determined eligible if you are an unremarried spouse of a veteran who died while in service or from a service connected disability, or are a spouse of a serviceperson missing in action or a prisoner or war.
WWII Service
Eligibility may also be established for certain United States citizens who served in the armed forces of a government allied with the United States in WWII and individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seamen with WW II service, and others.
VA Loans vs Conventional Loans
Understanding your mortgage options as a veteran
| Feature | VA Loan | Conventional Loan |
|---|---|---|
| Down Payment | ✓ 0% - No down payment required | 5-20% typically required |
| Mortgage Insurance | ✓ No PMI required | PMI required if less than 20% down |
| Funding Fee | 1.25%-3.3% (can be financed) | ✓ No funding fee |
| Credit Requirements | ✓ More flexible guidelines | Typically 620+ required |
| Eligibility | Veterans, active duty, reserves | ✓ Available to all qualified buyers |
| Interest Rates | ✓ Typically lower rates | Competitive market rates |
| Loan Limits | ✓ No maximum (with full entitlement) | Conforming limits apply |
| Best For | Veterans seeking maximum benefits | Non-veterans with good credit |
Ready to use your VA benefits? Our VA loan specialists are here to help you navigate the process and maximize your home buying power with no down payment.
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