top of page
Key Highlights
The Benefits
Zero Down
100% financing may be available.
No Monthly PMI
Reduce monthly housing costs.
Flexible Financing
Competitive loan options available.
What's Required
VA Eligibility
Service requirements apply.
Eligible Property
Property standards apply.
Primary Residence
Occupancy is required.
The Ins & Outs
How it Works
A VA Home Loan provides eligible veterans, active-duty service members, and certain surviving spouses with access to government-backed home financing. VA loans can offer significant homeownership benefits, including the ability for qualified borrowers to purchase a home with no down payment and no monthly private mortgage insurance.
Backed by the U.S. Department of Veterans Affairs, VA financing may be used to purchase or refinance an eligible primary residence. Loan amounts, credit requirements, property standards, and available financing options vary by lender and borrower qualifications.
Example Scenario
An eligible veteran is purchasing a primary residence and wants to preserve their savings rather than make a large down payment. A VA Home Loan may allow the veteran to finance up to 100% of the home's purchase price without monthly private mortgage insurance.
What is a VA Home Loan?
A VA Home Loan is a government-backed mortgage benefit available to eligible veterans, active-duty service members, and certain surviving spouses for financing an eligible primary residence.
Do VA loans require a down payment?
Eligible borrowers may qualify for 100% financing with no down payment. Individual circumstances, property value, entitlement, and lender requirements may affect available financing.
Do VA loans require mortgage insurance?
VA loans do not require monthly private mortgage insurance (PMI). However, a VA funding fee may apply unless the borrower qualifies for an exemption.
How do I know if I'm eligible for a VA loan?
VA eligibility is based on qualifying military service or other eligible status. A Certificate of Eligibility (COE) is used to verify a borrower's VA home loan eligibility.
Can I use a VA loan more than once?
Yes. VA home loan benefits can generally be used multiple times. Available entitlement and other VA requirements determine how the benefit can be used for a subsequent purchase.
bottom of page