VA Loans
A benefit earned through service.
A benefit earned through military service: eligible veterans, active-duty service members, and surviving spouses can buy with no down payment and no monthly mortgage insurance.
Program Highlights
- 0% down payment required in most cases
- No monthly private mortgage insurance (PMI) — ever
- Competitive interest rates, often lower than conventional financing
- VA funding fee applies (can be financed into the loan), and is waived entirely for veterans with a service-connected disability rating
- More flexible credit and debt-to-income guidelines than conventional loans
- Seller can contribute up to 4% of the purchase price toward closing costs
- VA IRRRL (Interest Rate Reduction Refinance Loan) available for existing VA loan holders — a streamlined refinance with minimal documentation
- VA Cash-Out refinance available up to 100% of home value in many cases
Best For
- Veterans and active-duty service members
- National Guard and Reserve members meeting service requirements
- Eligible surviving spouses buying or refinancing a primary residence
What You'll Need to Qualify
- Valid Certificate of Eligibility (COE)
- Property must be a primary residence
- VA funding fee applies (waived for service-connected disability)
- VA appraisal required
Guidelines vary by lender and borrower profile. All loans subject to underwriting approval. Not a commitment to lend.
Good to Know
the VA funding fee varies based on down payment amount, whether it's a first or subsequent use of the benefit, and loan type — ask for your exact fee, since disabled veterans are exempt entirely.
Common Questions
Do I have to put any money down?
No — most VA-eligible borrowers can purchase with 0% down.
Is there mortgage insurance on a VA loan?
No monthly PMI; there's a one-time funding fee instead (waived for qualifying disabled veterans).
Can I use my VA benefit more than once?
Yes, VA loan benefits can be reused, including for subsequent home purchases, though funding fee percentages may differ on later uses.