VA Loans
Buy a Home
VA Loans
A home loan benefit earned through service. VA loans offer eligible veterans, active-duty service members, and qualifying surviving spouses a path to homeownership backed by the U.S. Department of Veterans Affairs.
Who May Benefit
- Veterans who meet minimum active-duty service requirements
- Active-duty service members
- Qualifying surviving spouses of veterans
- Borrowers seeking competitive financing without a large down payment
- Those who want to avoid private mortgage insurance (PMI)
How It Generally Works
VA loans are made by private lenders and guaranteed in part by the VA. The guarantee reduces lender risk, which can result in more favorable terms for eligible borrowers. To use the benefit, you'll need a Certificate of Eligibility (COE) confirming your entitlement.
VA loans are available for purchase, refinance, and certain renovation purposes. They are intended for primary residences. Lender overlays, credit standards, and property requirements still apply.
Key Considerations
Certificate of Eligibility
A COE is required to confirm your VA entitlement. Your lender can often request it on your behalf through the VA's automated system.
Funding Fee
Most VA loans include a funding fee that varies by loan type, down payment, and usage. Veterans with qualifying service-connected disabilities may be exempt.
Occupancy Requirement
VA loans require the borrower to occupy the property as a primary residence. Investment-only purchases are not eligible.
Property Eligibility
The property must meet VA Minimum Property Requirements (MPRs). A VA appraisal is required and evaluates both value and condition.
This website is not affiliated with or endorsed by the U.S. Department of Veterans Affairs. VA loan eligibility, entitlement, and program details are subject to VA guidelines and lender requirements. Verify your eligibility and current program terms before proceeding.
Frequently Asked Questions
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