A benefit you earned. Let’s use it well.
For eligible veterans and service members, VA financing offers advantages that are hard to match, including no down payment options for those who qualify and no monthly mortgage insurance. We will help you make the most of it.
What to know.
The honest version, in plain language, so you can decide for yourself.
Who qualifies
VA loans are for eligible veterans, active-duty service members, and certain surviving spouses. Eligibility is confirmed with a Certificate of Eligibility, which we can help you request.
Often zero
For those who qualify, VA loans may allow financing with no down payment, which is one of the strongest benefits in home lending. Terms are subject to eligibility and approval.
Lower payment
VA loans do not carry monthly mortgage insurance, unlike FHA and low down payment conventional loans. That can meaningfully lower your monthly payment.
One-time cost
Most VA loans include a one-time funding fee, which can often be financed into the loan. Some veterans, such as those with a service-connected disability, may be exempt.
Questions we get about this.
Who qualifies for a VA loan?
VA loans are available to eligible veterans, active-duty service members, members of the National Guard and Reserves who meet service requirements, and certain surviving spouses. Eligibility is documented with a Certificate of Eligibility, or COE, which we can help you obtain. Meeting the service requirement is the first step; you still need to qualify based on credit, income, and the property, like any loan. If you are unsure whether your service qualifies, it is worth a quick conversation rather than assuming either way.
Do VA loans really require no down payment?
For eligible borrowers, VA loans may allow financing with no down payment, which is one of the most valuable benefits available. That said, no down payment is not automatic in every situation, and putting some money down can reduce your funding fee and your payment. Whether zero down is the right move depends on your cash position and goals. Loan approval and terms are subject to eligibility, credit, income, and property qualification.
What is the VA funding fee?
The VA funding fee is a one-time fee that helps keep the VA loan program running. The amount depends on factors like your down payment and whether you have used your VA benefit before, and it can often be financed into the loan rather than paid in cash. Some veterans are exempt from the funding fee, including many with a service-connected disability. We will tell you your specific figure and whether an exemption may apply.
Let’s look at your options.
Tell us your situation and we will tell you honestly what is possible, including if the answer is to wait.