VA Home Loans
Guaranteed by the U.S. Department of Veterans Affairs for eligible service members, veterans, and surviving spouses.
VA-backed loans are made by private lenders and partly guaranteed by the U.S. Department of Veterans Affairs. For eligible borrowers, they can mean no down payment and no monthly mortgage insurance.
Who may qualify for a VA loan
VA home loan benefits are available to many veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses who meet service requirements (VA eligibility).
- A Certificate of Eligibility (COE) confirms your entitlement. You or your lender can request it (VA).
- You must meet VA’s and your lender’s standards for credit and income.
- You must live in the home you buy with the loan (VA purchase loan).
How down payments work
VA doesn’t require a down payment if the sale price doesn’t exceed the home’s appraised value (VA).
With full entitlement, there’s no VA loan limit. If you have remaining (partial) entitlement, for example because a previous VA loan is still active, a down payment may be needed for larger loans (VA loan limits and entitlement).
Sellers can pay normal closing costs, and VA limits seller concessions to 4% of the home’s reasonable value (VA).
Credit and income considerations
VA asks lenders to review your credit and income but leaves minimum credit scores to lenders, so requirements can differ from lender to lender.
Lenders look at your debt-to-income ratio and other measures of whether the payment fits your budget. Ask Shane how a VA review would look at your full picture.
Mortgage insurance or funding fees
VA loans don’t have monthly mortgage insurance. Instead, most borrowers pay a one-time VA funding fee, which can be paid at closing or financed into the loan (VA).
For a purchase, the fee depends on your down payment and whether you’ve used the benefit before. For example, VA lists 2.15% for first use with less than 5% down. See VA’s current funding fee table for every scenario.
You won’t pay the fee if, for example, you receive VA compensation for a service-connected disability or you’re a surviving spouse receiving Dependency and Indemnity Compensation. VA lists all exemptions.
Key advantages
- No down payment for many eligible borrowers.
- No monthly mortgage insurance.
- No VA loan limit with full entitlement.
- Funding fee exemptions for many disabled veterans and eligible surviving spouses.
- Can be used for 1–4 unit homes when you live in one unit.
Important limitations and risks
- The funding fee adds to the loan when financed.
- Borrowing 100% of the price leaves little equity if values fall or you need to sell soon.
- Condos must be in a VA-approved project.
- Primary residence only; not for investment properties or second homes.
- Partial entitlement can require a down payment for larger loans.
Common misconceptions
MythA VA loan can only be used once.
RealityEntitlement can be used more than once, and it may be restored after a VA loan is paid off.
MythVA loans take much longer to close.
RealityTimelines depend on the file, appraisal, and lender, not on the loan type alone.
MythSellers won’t accept VA offers.
RealityOffers are judged on many factors. A strong preapproval and clear terms matter for any loan type.
Questions to ask before choosing
- Do I have full or partial entitlement, and do I need a down payment at my target price?
- Am I exempt from the VA funding fee? If not, what would it be?
- What are the lender’s credit and debt-to-income requirements for VA?
- How could seller concessions and closing-cost credits help my cash to close?
- How does VA compare with conventional or FHA for my numbers?
Compare VA with another option.
Open the comparison tool with VA already selected, or browse all ten guides.
Keep comparing.
Conventional Mortgages
Not government-insured. Usually follows Fannie Mae or Freddie Mac guidelines.
Read the guide →Loan typesFHA Loans
Insured by the Federal Housing Administration. Flexible credit standards.
Read the guide →Rate structuresFixed-Rate Mortgages
The interest rate is set at closing and doesn’t change for the life of the loan.
Read the guide → All guidesMortgage Programs Center
All ten guides and the side-by-side comparison tool.
Compare programs →VA questions, answered.
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Ask Shane a question →Do VA loans require a down payment?
Not if the sale price doesn’t exceed the appraised value and you have full entitlement. With partial entitlement, a down payment may be needed for larger loans.
Do VA loans have mortgage insurance?
No monthly mortgage insurance. Most borrowers pay a one-time VA funding fee instead, which can be financed; some borrowers, including many with service-connected disabilities, are exempt.
How much is the VA funding fee?
It depends on your down payment and whether you’ve used the benefit before. VA lists 2.15% for first use with less than 5% down on a purchase. Check VA’s current table for your scenario.
Can I use a VA loan more than once?
Yes. Entitlement can be used again, and it may be restored after a prior VA loan is paid off.
Is there a VA loan limit?
With full entitlement, VA doesn’t set a loan limit. With remaining entitlement, county limits affect how much you can borrow without a down payment.
Sources
- VA: Purchase loan
- VA: Eligibility for VA home loan programs
- VA: How to request a Certificate of Eligibility (COE)
- VA: Home loan entitlement and limits
- VA: Funding fee and closing costs (seller concessions limit)
Important: This page is educational and general in nature. It isn’t a recommendation, a loan offer, a rate quote, a Loan Estimate, an approval, or a determination of eligibility. Program guidelines, limits, fees, and availability change and vary by lender and investor; actual eligibility, pricing, and terms require a full application and review. References to a program don’t mean Ease Mortgage currently offers it; ask Shane about current availability. Information was last reviewed November 9, 2026. Shane Thomas, Senior Loan Officer | Ease Mortgage, NMLS #444451. Ease Mortgage NMLS #2273319. Licensed in Michigan and Indiana. Equal Housing Opportunity.
Let’s Compare Your Real Mortgage Options.
Guides explain how VA generally work. Your real options depend on your goals and numbers. Start your secure application, or call Shane to compare them side by side.
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